The Hon. Faiszer Musthapha, PC
Faiszer Musthapha stated support for anti-corruption measures but cautioned that investment activity should not be broadly treated as corruption. He urged the Government to develop a stronger programme to attract foreign direct investment, arguing that loan capital alone cannot drive development. He specifically requested reconsideration of the 15 per cent tax on BPO operations and proposed tax incentives and investor facilitation measures, citing India’s infrastructure and concession-based “plug-in” model as an example.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 We too are against corruption. Your anti-corruption measures are good. But not everything is corruption. We must create an enabling environment for investment and encourage investors to invest in Sri Lanka; not everything can be dismissed as corruption.
¶ 02 We need a programme to attract FDIs; without them, there will be no development. Regarding BPO operations, you have imposed a 15 per cent tax. I request you to reconsider. BPOs provide services to foreign call centres; they can easily keep monies offshore and remit only costs, so taxation disincentivizes investment. Consider tax incentives instead. This Budget has many positives; but on investment, please focus more. Loan capital alone cannot take this country forward—investment must. Do not be like frogs in a well. Many countries offer investor facilitation. India has a plug-in system providing infrastructure and concessions. Kindly consider these suggestions to help Sri Lanka reach a better position.
¶ 03 Thank you.
Provenance
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- Hansard, Tuesday, 25 February 2025 ·No. 1741258607035810 ·English daily/uncorrected Hansard
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Cite as: The Hon. Faiszer Musthapha, PC. 10th Parliament, Parliament of Sri Lanka. Hansard, 25 February 2025. No. 1741258607035810. Politick, https://staging.politick.io/lk/speeches/26677