Financial Times

J-Biz goes on the offensive

Business leaders look a picture of gloom as they ponder a bleak future for the economy and the corporate sector at last week's Joint Business Forum meeting. The current fragile economic recovery is doomed if efforts to settle differences between President Chandrika Kumaratunga and Prime Minister Ranil Wickremesinghe continue to be unsuccessful. Pic by Gemunu Wellage

The Joint Business Forum's effort to mount pressure on the political leadership to end the current power struggle that was jeopardising economic and corporate performance drew wide support from a cross section of the island's business leaders but opinion was divided over how to influence public opinion and force a compromise to end the stalemate.

Calls for action beyond the statements that had been issued till now range from peaceful street demonstrations by the business community as a show of strength to a token strike and refusal to pay taxes as a mark of protest over the intransigence of the political leadership.

The unprecedented J-Biz meeting drew over 300 business leaders from different chambers and associations not only from Colombo but also from the outstations such as Jaffna, Trincomalee and Hambantota.

It was called after mounting criticism that the business community was not aggressive enough in putting pressure on President Chandrika Kumaratunga and Prime Minister Ranil Wickremesinghe to end their antagonism. Traditional corporate leaders were being seen as too conservative and too closely linked to one or the other of the UNP or SLFP leaders and of not being independent enough to lead the private sector.

J-Biz chairman Mahendra Amarasuriya acknowledged that they had not achieved any breakthrough despite several meetings with President Chandrika Kumaratunga and Prime Minister Ranil Wickremesinghe and that J-Biz proposals to end the crisis had been "summarily dismissed." The meeting was called because of a growing feeling of complacency among civil society and politicians and to prevent the stalemate dragging on as that could have a debilitating effect on the economy and corporate performance, he said.

While the meeting was largely supportive of J-Biz efforts to mount a campaign to influence public opinion and pressurise the political leadership, there were a few dissenting voices that were critical of 'big business' attitudes. Sarath Uyanhewa, vice president of the Association of Small and Medium Scale Enterprises, said he felt that the J-Biz meeting was not successful. "Members present at the meeting are figures of big corporate entities. They aren't patriotic.

only reason why they are agitated is because the current crisis has affected their profit margins," he said in an interview on the sidelines of the meeting. "In my opinion, this story of a bleak future under the existing political set up is mere rhetoric by Prof. G.L. Peiris in order to agitate the private sector to exert pressure on the President."

Former DFCC chairman Lakshman Watawala gave vent to the frustration felt by many in the private sector when he made an emotional intervention as the meeting was about to be wound up, calling for decisions on future action.

"Let us demonstrate and show our strength," he declared. "If you go back to the J-Biz (for decisions) you have wasted our time." Among the other proposals that were discussed was for the private sector to lobby political leaders, perhaps with the support of other sectors of civil society such as the clergy, labour unions and non-governmental organizations.

It was suggested that the private sector become a "third force" as an alternative to the two main political parties and that in the long term, constitutional reform was the only lasting solution. Apparel exporter Lyn Fernando told the meeting that they should mobilise businessmen in rural areas and bring pressure on local politicians who in turn would be compelled to pressurise their national leadership.

A call by businessman Tissa Jayaweera to identify who had done wrong in the current impasse, with the majority opinion putting the blame on President Kumaratunga, drew a round of applause.

CBK, Ranil for J-Biz talks
The Joint Business Forum has decided to invite President Chandrika Kumaratunga and Prime Minister Ranil Wickremesinghe together for talks with the business group on joint action to resolve the political crisis, a J-Biz statement said after an emergency meeting on Friday.

It plans to organize a peaceful demonstration along with civil society groups and has invited their representatives for talks on Monday. J-Biz also wants to "formulate an action plan to assist in resolving the existing crisis", the statement said without giving details.

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