Economists predict:

Eight percent growth

* Economic benefits distributed equally

* Many massive development projects

Nadira GUNATILLEKE

For the first time in the country’s history, Sri Lanka is going to achieve economic independence using its geographical location under the economic policy of Mahinda Chintana – Vision for the future. Countries such as Gibraltar, Singapore, Hong Kong and the Maldives have already done this very successfully, said Prof Buddhadasa Hevavitharana of the Peradeniya University.

Addressing a press briefing at the Information and Media Ministry yesterday to analyze the economic policy of Mahinda Chintana – Vision for the future, Prof Hevavitharana said the significance of the policy is to make sure that economic benefits are distributed among the public equally.

Since independence everyone was questioning about economic independence of Sri Lanka and only now under Mahinda Chintana, there is a clear strategy to achieve it. It is expected to achieve an eight percent growth rate by developing the country as a naval, aviation, commercial, energy and knowledge hub. Under this strategy the country’s economy will not be pushed from the back, it will be pulled from the front.

The strategy is already under way with the commencement of constructing the Hambantota harbour and other harbours, Mattala International Airport and many other projects. In 2005, Mahinda Chintana commenced after clearing the backlog created by previous regimes without developing infrastructure.

Prof W.D. Lakshman of Colombo University said that with the achievement of permanent peace in May 2009, Sri Lankan economy is now having the chance of leaping forward. The existing environment will certainly assist to achieve eight percent growth rate if a major disaster does not take place in the future. There should be a vision to achieve great achievements and there are some visions included in both election manifestos. The difference in Mahinda Chintana – Vision for the future is, it very clearly states how and when the vision can be realised. The strategies are clearly mentioned in it. The policy does not focus only on the services side of the economy.

Dr Lloyd Fernando of the University of Sri Jayewardenepura said that Singapore achieved its present economic status because of the vision the country had in the past under its leadership. Foundation for the vision included in Mahinda Chintana – Vision for the future has already been laid. For example, there is no other country in the world that issues a passport within 24 hours and Sri Lanka does it. Our State Departments, State hospitals and similar institutions have already been modernised and developed to a high standard. The country should walk forward further. Dr Lalithasiri Gunaruwan of the Colombo University said that the victory Sri Lankan economy achieved in the middle of a global economic crisis is maintaining a growth rate of six percent for a period of four years. Therefore, achieving a growth rate of eight percent is not a challenge for the country at all. In Mahinda Chintana – Vision for the future, it is very clearly stated where the country’s economy is heading for, how the mentioned targets could be achieved and what are the strategies that will be used to achieve targets. But in the other election manifestos, only the vision is there but nothing more than that. No target or strategy has been stated in it.