‘How Can Sri Lanka Stay on the Growth Expressway?

Economic growth is a basic condition of the economic development which is measured by GDP growth. Even though Sri Lanka got the independence in 1948 there is no any change of its economic position as developing country. In current context Sri Lanka is achieved around 8% growth rate and it is required to enhance its growth in an express manner. However it is clear that there are some in-efficiencies in economy which have to change from the grass root level to top level in order to stay on the Growth Expressway.

Sri Lankan Government sector is the giant facilitator of the economy who has to act various roles in the economy to lead the country towards its growth. Even though it has very practicable system of functioning there are some obstacles which still not have been addressed. As an example there is no integration with government strategies and its stakeholders. Recently the currency value is devaluated in order to enhance the export sector but suppliers are not able increase their supply of exports at once. This leads to reduce the short term benefits of the currency devaluation as well as due to economic uncertainty they will not able to gain the long term benefits too. This implies that government needs a system of integration to provide a better helping hand for the economic growth.

Infrastructure development is a major sector that needs to develop in the country. This is not a matter of developing physical infrastructure such as roads, harbors etc. Country needs to manage existing infrastructure with having proper monitoring and maintenance. As an example it takes nearly seven hours to travel from Colombo to Badulla by public transportation mode in today as well as before forty years ago. Number of people who included in Labor force of Sri Lanka uses public transport instead of private vehicles. No any arguments that improve the speed and quality of the general transportation lead to enhance the labor productivity. As well as, have any one knows how the roads were developed when President visits to a particular place (town)? Really it is unbelievable to see how they construct carpeted road for 2-3 kilometers within one day. There are more examples: Do we use our exiting harbors in full capacity? Does the business community use the southern expressway? If country needs enhance its growth in an express manner need to address these kinds of issues quickly.

Government sector is the largest single employment holder of the country but not having high labor productivity. It is because of lack of proper rules and regulations and the mismanagement. As an example there are some bus depots which having more than ten employees for one bus. Can we stay on the growth express way by using such labor force? Why government did not motivate those employees to engage with cooperate entrepreneurship.

Education system is another most important part which has to develop to achieve an economic growth. Average literacy rate is 91.9 % in 2011 but it is not a real indicator of knowledge level. Most of the business organizations need the practical knowledge. Is there enough room to have practical knowledge for the students? As examples students who sat for GCE A/L examination required waiting at least one year without doing any job until the university commenced. As well as university students also not allowed to participate at least as part time workers to contribute the economic growth. These things are not difficult to change but there is no any single effort to do these changes

These are very small examples that provide clear guidance to step on the Growth Expressway. Simply these matters imply that this is the time for awakening an independent third party to assist the economy. There should be a mechanism except from role of the central bank and the government opposite politics parties. Definitely it should be consist with staff of the private sector and it should be connected with the general public in order to have the information which really exists without manipulation. It is clear that government would not able to manage the economy as a centralized unit. Therefore If Sri Lanka needs to stay on the Growth Expressway it is required to taking hand with independent third party. But it is questionable that, who will take the first step, Government or the Private sector?