-By Special Corresponent
(Lanka-e-News -11.March.2025, 11.30 PM) The National People's Power (NPP) government must push forward with its promised system change at a much faster pace. The people of Sri Lanka elected this government with the expectation of sweeping reforms—not just minor tweaks. However, if bureaucratic inefficiency and red tape continue, even the most ambitious economic policies will collapse under their own weight.
One of the biggest obstacles to economic progress in Sri Lanka is a slow, outdated, and corrupt approval system. Take, for example, the Board of Investment (BOI)—meant to attract investors, yet it takes ages to approve even basic investments. Then there’s the Export Development Board, Finance Ministry, and Customs—all requiring endless licenses and approvals for imports, exports, and business ventures. Why is Sri Lanka still operating like a relic of the colonial era, where everything needs the rubber stamp of ten different government agencies?
President Anura Kumara Dissanayake has pledged to cut through this bureaucratic mess, but resistance from within the civil service is slowing progress. Ministries are filled with Secretaries, Additional Secretaries, Ministerial Coordinators, and countless others, but the actual productivity of the Sri Lankan civil servant is estimated to be below 5%. That’s a massive waste of taxpayer money.
A staggering 85% of government officials do not move applications or workload unless they receive a bribe. This is the reality investors face. A Chinese mattress firm, for example, invested billions, only to have its exports stuck at the port due to bureaucratic inefficiencies and bribery demands. Such incidents cripple Sri Lanka’s reputation as an investment destination.
To fix this, the NPP government must introduce harsh penalties for corrupt officials, including:
Minimum 10-year prison sentences for officials caught taking bribes.
Seizing assets of those convicted of corruption.
Strict monitoring and digital tracking of investment approvals to ensure accountability.
Another major problem is that Sri Lanka’s biggest business groups—such as Hayleys, John Keells, Aitken Spence, and Maharaja—control key industries. Through their network of government officials, they block new competitors and prevent fresh investments from entering the market. This kills competition, stifles innovation, and keeps prices high. The government must introduce stronger anti-monopoly regulations and break the stranglehold of these corporate giants to allow new businesses to thrive.
If Sri Lanka wants to attract investment, speed and efficiency are key. The NPP government must introduce a fast-track approval system, where:
Investors submit applications on Day 1 and undergo due diligence checks.
By Day 14, all approvals must be completed, including those from the BOI, environmental agencies, local governments, and customs.
A single coordinated office should handle the process, instead of making investors run from one ministry to another.
Sri Lankans have been patient for decades, but they will not tolerate another government that fails to deliver. If the NPP truly wants system change, it must act now—eliminate bureaucratic bottlenecks, punish corruption, encourage fair competition, and create a faster, more efficient investment process.
If not, public frustration will grow, and the government will find itself replaced as quickly as it was elected.
-By Special Corresponent
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by (2025-03-11 19:11:30)
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