“This would require focus on balanced sectoral growth, and establishing growth enablers and accelerators, covering digitisation, education, SME acceleration, energy, and more,” he said.
“A holistic framework for inclusive economic acceleration would also require the good governance, an installation of meritocracy, transparency, and elimination of corruption.
The draft Economic Acceleration report said governance improvements were needed to ensure proper implementation.
“Sri Lanka has many vision documents and national policies across many sectors. However, the execution and implementation is often weak, or non-existent,” it said.
It lists several current plans and programmes that must be implemented fully, like the National Export Strategy.
Recommend initiatives include a ‘National Implementation Oversight Committee’ consisting of both public and private sector officials, with sub-committees formed at different levels.
An action tracker for all government initiatives, mandatory quarterly progress reports and a sound public communication strategy is also recommended, along with mandatory performance audit by the Auditor General’s department, in addition to a fiscal audit function.
The report suggests vesting the overall function of monitoring development projects with a line Ministry responsible for monitoring and evaluation.
(COLOMBO, 18 Sep, 2019)