The Youth’s Success Over Failing State Enterprises

President Ranil Wickremesinghe emphasized that restructuring loss-making public institutions will lead to more resources being allocated to education and healthcare in the future. He highlighted that the true wealth of the country lies in its youth and not in struggling state enterprises. The President also mentioned that many state enterprises are now operating without burdening the government, with expectations that the financial obligations related to SriLankan Airlines will be resolved by the end of the year.

These statements were made by President Wickremesinghe during a ceremony at the newly built Faculty of Allied Health Sciences at Ruhuna University in Walahanduwa, Galle, on the 19th of the month. At the event, the President unveiled a plaque and officially handed over the college building to the students. He also interacted with the university staff and took a tour. Vice-Chancellor of Ruhuna University, Mr. Sujeeva Amarasena, presented a commemorative plaque to President Wickremesinghe.

As part of the event, the President planted a sapling in the Faculty of Science grounds and took a group photo with the university staff.

President Ranil Wickremesinghe stated:

“Minister Ramesh Pathirana played a crucial role in establishing the Faculty of Allied Health Sciences. I urge everyone to make full use of this facility. Universities in countries like the United States benefit from such buildings around the clock. When government funds are allocated for education, we must maximize their utilization. Disruptions to classes will have negative consequences for both the students and the country.

A significant amount was spent on SriLankan Airlines and other corporations, but effective management of these funds is necessary. Rather than leading to loans under three different governments and escalating national debt, these funds should have generated substantial returns. When the country’s economy was in crisis, our initial step was to cease borrowing, a difficult yet essential decision. We had to identify new revenue sources and instructed every government agency to cover their own expenses.

This initiative affected all sectors and faced severe criticism. I had to choose between allowing the economy to collapse or enduring the backlash. Despite the criticism, we remained committed, with full ministerial support.

Initially, some individuals opposed the state enterprise restructuring program. Today, utilities prices are aligned with global rates, and subsidies have been eliminated. The only remaining financial obligation is SriLankan Airlines, which we aim to resolve by year-end. This resolution will pave the way for redirecting funds to education and healthcare services in the future.

When introducing these measures, they faced significant opposition. I posed a critical question: is our national wealth tied to failing corporations or to our youth? We must decide between sustaining loss-making enterprises and investing in education and healthcare. I urge everyone to support a new economic transformation over the next few years with these initiatives to move the country forward.”

Minister of Health and Industries Dr. Ramesh Pathirana:

“The people of Galle extend their gratitude to the President for inaugurating this university building, which is vital for the future of our nation’s youth, amidst his busy schedule. I am delighted to have completed such a crucial project during this challenging period.

Thanks to President Ranil Wickremesinghe’s sound economic strategies, the Galle district has witnessed several significant projects. In the 2024 budget, substantial funds were allocated for health and education, marking a positive step for our children’s future. This newly inaugurated college is a source of pride for the Southern Province.”

Chairman of the University Grants Commission Senior Professor Sampath Amaratunge:

“I thank the President for his participation in this event. The non-academic staff, who had been on strike for 75 days, will return to duty from next Monday. The President intervened to address their salary disparities, making it possible for the Treasury to allocate Rs. 4.2 billion to settle their arrears. Eliminating strikes from our country’s landscape signifies true development.”

The Chancellor of Ruhunu University Ven. Akuratiye Nanda Nayaka Thera, the Maha Sangha, other religious clergy, Southern Province Governor Lakshman Yapa Abeywardena, Members of Parliament Mr. Wajira Abeywardana, Sampath Athukorala, a group of former vice chancellors, deans, academic staff, students, and others were present at the event.