PM not satisfied with govt.'s performance in employment generation

Prime Minister Ranil Wickremesinghe yesterday said the government’s performance with regard to employment generation is far from being satisfactory.

The Prime Minister said this during a ceremony held at Temple
Trees to give letters of appointments to unemployed graduates.

“Some 430,000 people have been employed after this government came to power. If the number of people who began self-employment schemes and those who found employment overseas are added it will come to around 700,000. The number of EPF account holders before 2015 was 7.8 million. There are 8.2 million EPF account holders today. However this is not enough, I am not satisfied and the government also cannot be satisfied with it. We have to generate more employment” the Prime Minister said.

“There was a debt servicing issue when we took over in 2015. There were no sufficient funds to meet the debt services. Some thought that the government would fall by end of 2015. We accepted the challenge. We have managed to stabilize the economy. The target for the end of 2018 is to reduce debt servicing up to 70 per cent of GDP. We hope to reduce it up to 60 per cent of GDP by 2025. We are confident about the future. The country faced a difficult situation as a result of natural disasters. We were criticized for taking difficult decisions. We have to face these realities in politics and there are times when we have to make difficult decisions. We even lost an election. However we will go forward now,” he added.

“Private sector investment has to be enhanced in order to achieve a speedy development. We have to go for exports. The country’s revenue has to be doubled. We got an export revenue of $ 11,73million in 2017. This is hardly sufficient. This has to be doubled. Bangladesh economy was in shambles in 1978 but now they have jumped up to 34th slot in the global economic position rankings. Vietnam will beat us before long. Indonesia is set to become a developed economy. We have set the stage for economic resurgence but it is essential to take off now, “ he also said. (Yohan Perera)