The Sri Lanka United National Business Alliance (SLUNBA), which represents small and medium enterprises, says the current economic climate has made it extremely difficult to operate a business in Sri Lanka, placing the blame squarely on tax burdens introduced under the government’s latest budget.
SLUNBA Chairperson Tania Abeysundara, criticized the government’s failure to deliver on its promises, stating that verbal assurances without practical, long-term policy implementation have left the private sector in crisis.
Issuing a stark warning about the deteriorating state of the country’s economy, she highlighted a mass exodus of skilled professionals, collapsing industries, and a lack of new investment.
“Industries are closing down, entrepreneurship is not emerging, and even existing businesses are relocating to other countries,” she said.
Abeysundara noted that Sri Lankan businesses are not being protected, and apart from the burden of excessive taxation, high utility costs have also made it nearly impossible for local enterprises to survive, let alone thrive.
“We are overloaded with taxes and unbearable electricity costs. These conditions are crushing businesses instead of uplifting them,” she added.
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