What Firms Want

Dilshan Wirasekara, Chief Executive Officer of First Capital Treasuries PLC

Sixty per cent of the private sector is betting on a three to five per cent growth in the economy for 2003, below government forecasts. rn

rnA wistful 58 per cent expect prices to swell within a range of seven and eleven per cent in 2003.rn

rnThe findings are responses to an International Monetary Fund (IMF) and Ceylon Chamber of Commerce (CCC) survey conducted in mid January, to gauge Sri Lankan private sector sentiment. rn

rnKey findings from the study were presented at a meeting with the members of the Sri Lanka Institute of Directors (alternative line – directors of private sector firms) on Friday. rn

rnThe survey found the private sector voting for poor labour laws, a lack of infrastructure, high interest costs, and taxes as the leading impediment affecting competitiveness. rn

rnPoor regulation also factored in high in the list of impediments. rn

rnHowever, nearly 80 per cent of the private firms expect their businesses to increase by over 5 per cent during the year. rn