{"id":97040,"date":"2022-08-06T05:07:46","date_gmt":"2022-08-06T05:07:46","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=97040"},"modified":"2022-08-06T05:07:46","modified_gmt":"2022-08-06T05:07:46","slug":"social-market-economy-need-of-the-hour-for-sri-lanka-president-by-shabiya-ali-ahlam","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/social-market-economy-need-of-the-hour-for-sri-lanka-president-by-shabiya-ali-ahlam\/","title":{"rendered":"Social market economy need of the hour for Sri Lanka: President &#8211; By Shabiya Ali Ahlam"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"font-size: 24px; color: #800000;\"><strong>Social market economy need of the hour for Sri Lanka: President &#8211; <span style=\"color: #333399;\">By Shabiya Ali Ahlam<\/span><\/strong><\/span><\/h1>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Indicates the need to ensure no segment is left behind in ongoing economic reconstruction efforts<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Says just as much as there is a need to make higher profits, more money must be available for the people<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Asserts highly competitive economy cannot run on low wages<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Assures SL will not go back to \u2018old\u2019 systems<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Stresses the need for change and increase in income\u00a0<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Says without prioritising economy nothing can be achieved<\/strong><\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px; color: #000000;\">Source :\u00a0<span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/www.dailymirror.lk\/business__main\/Social-market-economy-need-of-the-hour-for-Sri-Lanka-President\/245-242525\" target=\"_blank\" rel=\"noopener\">dailymirror.lk<\/a><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">By Shabiya Ali Ahlam<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">Sri Lanka as a nation must step up efforts in establishing a social market economy, so that going forward the people can move forward with the assurance of sustainable growth and development, President Ranil Wickremesinghe said.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-97042 alignleft\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/08\/Social-market-economy-need-of-the-hour-for-Sri-Lanka-President.jpg\" alt=\"Social market economy need of the hour for Sri Lanka: President - By Shabiya Ali Ahlam\" width=\"200\" height=\"352\" \/>\u00a0Wickremesinghe, speaking at a conference yesterday that was aimed at reforming Sri Lanka\u2019s current economic status, indicated that more must be done to bridge the inequality prevailing in the country and ensure all sections of the people across the\u200b\u200b island grow and reap the benefits of development and prosperity.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">\u00a0\u201cJust as much as we must make money and make bigger profits, there must be more money available to the people. The housing needs must be met in the next 15 to 20 years.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">\u201cPoverty should no longer be existent the rural areas of Sri Lanka, and for that matter the urban areas. We are a small country, we can go ahead,\u201d said Wickremesinghe at the \u2018Reform Now\u2019 conference hosted by Colombo-based think-tank Advocata Institute.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">While the higher end of the business community and the economy have repeatedly harped on the need for higher productivity and efficiency, the President pointed out that a highly competitive economy cannot run on low wages.\u00a0<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">Low wages and salaries have been the case for Sri Lanka in recent years, especially after the Covid-19 pandemic. Employers, and businesses, even those that made higher profits resorted to trimming payroll expenditure to reduce operational costs in the name of sustaining operations.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">The outcome of such moves, which are still in place, has made it increasingly difficult for the bulk of those in the workforce to carry on with their day-to-day expenses. This has been further worsened by the escalating cost of living.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">\u201cA highly competitive economy runs on high wages and high productivity. Both are necessary. Without those we cannot go ahead,\u201d asserted the President.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">Meanwhile, Wickremesinghe went on to state that the pain felt by the people at present will not go away overnight, and is likely to stay for the whole of next year as well.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">He attributed the increasing challenges to the global situation being unfavourable to \u201canyone\u201d next year.<\/span><br \/>\n<span style=\"font-size: 16px; color: #000000;\">\u00a0\u201c2024 will be better. But we have to get through all this. We have to find niche markets. We have to find people. So, are you ready to take up the challenge? Are you ready to influence other people to take up the challenge?\u201d said the President while questioning the audience on their commitment to bring about the changes the nation has been demanding for.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">He went on to state that there is no going back to the old system and the suffering of the most vulnerable must not be for in vain, for which coordinated efforts are required to improve the lives of the people.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">\u00a0\u201cThere have \u200b\u200bto \u200bbe\u200b change\u200bs\u200b. There has to be a \u200b\u200brise in income. Workers have to be looked after. Education facilities have to be made available. For this we are going to a newer system,\u201d stressed Wickremesinghe.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">The President further stated that while efforts are underway to reconstruct the future, the priority should be the economy.<\/span><\/p>\n<p style=\"text-align: justify;\">\n<span style=\"font-size: 16px; color: #000000;\">\u201cThe first item of the agenda should be the economy. It may also be the second item on the agenda. Without doing the economy, we cannot do anything else,\u201d he pointe<\/span><span style=\"font-size: 16px;\">d out.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Social market economy need of the hour for Sri Lanka: President &#8211; By Shabiya Ali Ahlam Indicates the need to ensure no segment is left behind in ongoing economic reconstruction efforts Says just as much as there is a need to make higher profits, more money must be available for the people Asserts highly competitive [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":97042,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[4743,46338,687],"class_list":{"0":"post-97040","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-ranil-wickremesinghe","9":"tag-social-market-economy","10":"tag-sri-lanka","11":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Social market economy need of the hour for Sri Lanka: President - By Shabiya Ali Ahlam - eLanka<\/title>\n<meta name=\"description\" content=\"Indicates the need to ensure no segment is left behind in ongoing economic reconstruction efforts Says just as much as there is a\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social market economy need of the hour for Sri Lanka: President - By Shabiya Ali Ahlam\" \/>\n<meta property=\"og:description\" content=\"Indicates the need to ensure no segment is left behind in ongoing economic reconstruction efforts Says just as much as there is a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/social-market-economy-need-of-the-hour-for-sri-lanka-president-by-shabiya-ali-ahlam\/\" \/>\n<meta property=\"og:site_name\" content=\"eLanka\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eLanka.com.au\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-06T05:07:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/08\/Social-market-economy-need-of-the-hour-for-Sri-Lanka-President.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"200\" \/>\n\t<meta property=\"og:image:height\" content=\"352\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"eLanka admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eLanka admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/social-market-economy-need-of-the-hour-for-sri-lanka-president-by-shabiya-ali-ahlam\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/social-market-economy-need-of-the-hour-for-sri-lanka-president-by-shabiya-ali-ahlam\/\"},\"author\":{\"name\":\"eLanka admin\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd\"},\"headline\":\"Social market economy need of the hour for Sri Lanka: President &#8211; 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