Systems on verge of collapse, warns FUTA member

By Rathindra Kuruwita

Sri Lanka was the only country that has exclusively used funds like EPF, which are there for the welfare of the workers, when restructuring domestic debt, Ramindu Perera, senior lecturer at the Open University Law Faculty and Federation of University Teachers Association (FUTA) member told The Island yesterday.

“There are 14 countries that have restructured domestic debt along with external debt. Out of the 14 countries, 12 have not touched funds like EPF. Only Grenada and Ghana have restructured these funds. These two countries too have restructured loans taken from other domestic lenders. Sri Lanka is the only country that has exclusively used funds like EPF that are there for the welfare of the workers,” he said.

Over 600 lecturers had left universities during the past six months, Perera said. “This has affected the quality of the education. Most lecturers, and professionals in general, are leaving because of high taxes,” he said.

“No one is against paying taxes. The government needs to collect taxes to keep the country going. We oppose only the percentages. When professionals protested, the President said he would reevaluate taxes during the September 2023 IMF review. However, we don’t see any such review. The systems are on the verge of collapse,” he said.

Dr. Perera said that the government had been attempting to distract people from economic woes by using racism.

“The government has no solution to the economic problems. However, people are aware of these attempts. .