The Free Trade Manufacturers Association (FTZMA)expressed deep concerns overthe operations of the export sector being affected due to the current economic crises in the country. FTZMA notes that an interim cabinet with subject experts should be appointed to get out of the current crises.
“In response to the growing demand of the citizens for the President and Parliament to step down which may be an ultimate solution, we strongly feel that there is a dire need to move forward with the IMF engagement and restructure the debt-paying processes to stabilise the country’s economy and the administration system. FTZMA is of the view that the Executive,the Legislature and all political parties should unequivocally support this at this juncture. Therefore, we request all parties to be devoid of any actions that could further disrupt the country’s economic and political stability,” noted a FTZMA statement.
It added “Since the public is overwhelmingly rejecting the existing administration system with the incumbent Executive, Cabinet and MPs, FTZMA believes that all parties agree to appoint experts who can oversee the ongoing economic and financial turmoil under a new caretaker government.
“By doing so, it would pave the way for such experts to take up appointments as new members of the Cabinet which should then immediately negotiate with all multilateral financial institutions on debt restructuring and actively get involved in administrating day to day affairs whilst ensuring that the bare necessities of the people such as Fuel, Gas and Electricity supply would be made available without hindrance.
By Rajiesh Seetharam