{"id":80429,"date":"2018-08-25T16:14:45","date_gmt":"2018-08-25T23:14:45","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=80429"},"modified":"2018-08-25T16:14:45","modified_gmt":"2018-08-25T23:14:45","slug":"private-sector-is-the-pillar-of-open-economy-and-it-is-collapsing","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2018\/08\/25\/private-sector-is-the-pillar-of-open-economy-and-it-is-collapsing\/","title":{"rendered":"PRIVATE SECTOR IS THE PILLAR OF OPEN ECONOMY AND IT IS COLLAPSING?"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Dr Sarath Obeysekera<\/em><\/span><\/h2>\n<p>Ordinary people are not aware that major private companies are facing difficulties. They cannot\u00a0 \u00a0even pay salaries.Big construction companies who have been providing support to generate \u00a0employment are facing bankruptcy.<\/p>\n<p>Large Chinese companies have invaded Sri Lanka taking over all the construction work. One \u00a0property developer which provide flats to people at Fair Prices\u201d\u00a0 owe over 3-4 billion to another Sri Lankan construction Company .Multi discipline conglomerate who had undertaken government contracts are not getting any more work \u00a0and state agencies own them billions .Government boasts about economic growth as stated by learned central bank governor .<\/p>\n<p>Many new entrepreneurs who have grown fast are moving into retail supermarket because they will entertain free cash flow with many creditors waiting to pay.<\/p>\n<p>Our economy is collapsing despite the claim by the governor<\/p>\n<p>Quote<\/p>\n<p><strong>Economic growth in 2Q will improve &#8211; CB Governor<\/strong><\/p>\n<p><strong>\u2018As economy is soft no need to tighten monetary policy\u2019<\/strong><\/p>\n<p><u>By Lalin FernandopulleBusiness<\/u><\/p>\n<p>The Central Bank is in the process of revising the country\u2019s economic growth target for this year which was initially set at between 4 to 4.5 % , Central Bank Governor Dr. Indrajit Coomaraswamy told journalists at a media briefing held at the Central Bank to announce the Monetary Policy stance of the Central Bank on Friday. I think 5% is a very ambitious target considering the 3.2 % growth rate recorded in the first quarter this year.<\/p>\n<p>This is humbug<\/p>\n<p>Dr Sarath Obeysekera<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dr Sarath Obeysekera Ordinary people are not aware that major private companies are facing difficulties. They cannot\u00a0 \u00a0even pay salaries.Big construction companies who have been providing support to generate \u00a0employment are facing bankruptcy. Large Chinese companies have invaded Sri Lanka taking over all the construction work. One \u00a0property developer which provide flats to people at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[116],"tags":[],"class_list":["post-80429","post","type-post","status-publish","format-standard","hentry","category-dr-sarath-obeysekera"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/80429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=80429"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/80429\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=80429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=80429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=80429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}