We have to look at economic reforms within next five years – PM

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Public sector experts have to decide on how to resolve the issues faced by Sri Lanka’s public administration system today, Prime Minister Ranil Wickremesinghe said on Thursday.

Speaking during the launch of the book titled ‘Managing Development People, Policies and Institutions’ penned by Colandavelu Narayanaswami in Colombo, the Prime Minister said the government will leave the public sector experts to decide how to resolve the issues faced by the country’s public administration system.

“We will leave you to decide on how to resolve the problems faced by Sri Lanka’s public administration system today,” the Prime Minister said highlighting that the government is looking towards economic reforms within the next five years.

“We will have to look at economic reforms within the next five years. Sri Lanka will have to go for an export-oriented economy. We have to decide what sectors we have to look at and see whether we are going to produce automated products or decide on producing other items. Then we will have to think of the markets which we are going to capture,” he said.

“We will have to think of paying the country’s debts which we will have to earn and pay. This is why it is essential to increase export earnings,” he added.

Central Bank Governor Indrajit Coomaraswamy who was a special guest at the event said one of the key institutions that need to be made independent to see that the country is developed, is the Supreme Court and the Central Bank. Also, he said Sri Lanka’s workforce in the agriculture sector is higher than the norm. “Over 45 per cent of Sri Lanka’s workforce are in the agriculture sector whereas the global norm is that it should only be around 25 per cent in the said sector,” Dr. Coomaraswamy said. He added that the structure of the workforce in Sri Lanka should be changed.