Sri Lanka, which is slowly recovering from its worst economic crisis, will vote on Saturday to elect its next president. Incumbent Ranil Wickremesinghe is running for another term but is facing a challenge from prominent opposition leader Sajith Premadasa.
Mr Premadasa, 57, is the son of former President Ranasinghe Premadasa. He leads the Samagi Jana Balawegaya Party or SJB, which broke away from Ranil Wickremesinghe’s party – the United National Party or UNP in 2020.
Mr Premadasa’s centrist, more left-wing party has sought major changes to a $2.9 billion bailout programme with the International Monetary Fund (IMF) and has outlined its own plans to adjust some of the goals, such as changing taxes to reduce the cost of living. He is planning a very different approach from that of Mr Wickremesinghe.
Mr Premadasa favours a mix of interventionist and free market economic policies, and has promised subsidies and has been accused of giving away freebies at his election rallies. But he says he has a different vision for Sri Lanka and a plan for achieving it.
In an exclusive interview with NDTV, Mr Premadasa explains how his approach differs from the current government, how he plans to revive the economy differently from the current President, how he sees India-Sri Lanka relations and his plans to deal with China.
Here are the highlights of his interview to NDTV:
Q: What do you think makes these elections so important and decisive?
A) Sri Lanka is facing many crises. In the economic sphere, in the social sphere, in the political sphere – and we do not have a legitimate government, in the sense that the current administration is an extension of the administration that was primarily responsible for bankrupting Sri Lanka. It is the same parliamentary majority that caused the bankruptcy. So the people of Sri Lanka are eagerly waiting to express their opinion and give their mandate for change. Change that will make the country prosper.
Q) It is widely acknowledged that current President Ranil Wickremesinghe is credited with stabilising the economy, but you are saying he is part of the problem, not the solution – this is a serious accusation. Can you please elaborate?
A) If one takes to the streets with one’s testimonies and talks to the poor, the Dalits, the self-employed, the labour force, entrepreneurs, the rural and urban estate sectors; if you look at the major sections of society, apart from the super rich, who have been badly affected, and if I can give you some statistics… The statistics ascertained by the government statistics department show that over 260,000 micro, small and medium-sized enterprises have closed down. Lakhs of people have become unemployed, lakhs of people have become poor, and the government has no strategy to deal with this.
Micro, small and medium-sized enterprises contribute 50% to GDP, employ over 4 million people, so people are suffering from the policies of the government, which have basically suffocated people. So, if you are achieving sustainability at a huge human cost… at a cost where people are suffering, I don’t think this is the right way to do it.
Q: So, comparatively, what is your action plan?
A) We procrastinate that we will buy our way out of the problem. We have to go on a path of massive economic growth. There is a huge amount of FDI coming into Sri Lanka, society is being restructured to ensure that entrepreneurs are thriving. The bureaucratic stranglehold, which has basically stifled entrepreneurship, must be removed. Make sure businesses are thriving… make sure micro, small and medium-sized industries are being adequately supported. What you have right now is not inclusiveness, it is exclusive.
Q) So, how do you plan to ensure all this? How will you solve the funding problem? And also, ensure that the economy grows and does not shrink due to lack of funds?
A) You are absolutely right in saying that the economy is weak. This weakness does not give an excuse to be corrupt… to loot the government treasury. If we are elected, what we propose to do is to ensure that we follow good governance practices… ensure that the major indices which are contributing factors with respect to foreign direct investment, good governance indices, ease of doing business… we must have a responsible government, a transparent government, and a government that is accountable – all three of these are lacking at the moment.
Q) One of the criticisms your party is facing is that you are promising huge subsidies and freebies to people at a time when the economy is facing a money crunch. Where will the money come from? Won’t this put the economy in even greater danger?
A) We will dismantle the crony-capitalist structure that currently exists. We will ensure that growth is the key event in our economic programme. This government does not understand growth. They are downplaying growth. To show everybody that the economy is stable, you are downsizing everything – that is not the way. We have to get ourselves out of the problem. So, stability with malnutrition, stability with massive unemployment, stability with growth contraction, stability while losing livelihoods, stability with low standards of living… I am sorry, I do not agree with that. The difference between the government and us is that we do not focus only on macroeconomics, we also look at microeconomics. So, we are taking a broad integrated approach, while this government is only keen to show the entire world and a particular section of our country that everything is stable and fine.
Question: India has strategic interests in the region. India had and still has very close relations with Sri Lanka. How do you see India-Sri Lanka relations?
A) When you talk about recovery, I must say that in these very difficult and trying times, India has been one of the countries that has been very generous and very supportive… And I would like to thank the Government of India, PM Modi’s government and the people of India very much… And also the various states that have come forward to help our country. So, thank you very much. Having said that, I do think Sri Lanka is on the right path to recovery. So, we will ensure that we have a very balanced policy. Where India comes in is that our foreign policy will be one that promotes our national interests. We will do what is right for our country, and it is in our country’s interest to have cordial relations with India and the rest of the powers in the world.
We recognise that there is a special relationship, an affinity, a cordiality between our two countries and we have a history of positive progressive and good relations. We have to build on that and I think we will ensure that the mutual interests that are important to both of us are met.
Q: China is an important player in the region and the last few years have seen an increase in Chinese investments and Chinese naval presence in the region. How do you see the China equation for Sri Lanka?
A) As I told you, in our external relations, we have a special relationship with India. But we also have to work with all other nation states. I am the only politician (from Sri Lanka) who has proposed that India should be included in the United Nations Security Council. Having said that, we as a country will work together with all other countries, all other democracies, all other nation states to ensure that Sri Lanka’s national interests are achieved. We will not work towards undermining the security and geopolitical interests of others in any way.
Question: What is your rationale behind giving veto power to India in the United Nations Security Council?
A) Well, this is a major reflection of the global geopolitical reality and I must say it is not only China… All the five permanent members of the UN Security Council have veto power. Sri Lanka has been very balanced overall. We want to ensure that we protect our interests and also ensure that the interests of other nations are not compromised and neutralised. So we are very sensitive to ensure that we do not interfere in the affairs of other countries.
Question: Given your vision for Sri Lanka and the region, what would be your first expectation or demand from India?
A) First and foremost, I must say that I do not demand. I always use power to persuade. I will use all the skills available to me to get India to invest more in Sri Lanka, help Sri Lanka get out of this problem, help the people of Sri Lanka… ensure that social and economic stability is secured. So, I will use my power to persuade your great country, India, to protect the human rights of the people of Sri Lanka, not only political and civil rights, but also their economic rights, their social rights, their right to life, right to reduce poverty, right to reduce unemployment… and this is the area in which we expect to cooperate with India.
