Sri Lanka president expects strong mandate after snap poll
Election officials transport sealed ballot boxes to a counting centre at the end of voting in Sri Lanka's legislative elections in Colombo on November 14, 2024. (Photo: Getty Images)
By EasternEyeNov 14, 2024
SRI LANKA'S Lanka's president Anura Kumara Dissanayake expressed confidence in securing a significant victory as polls closed for Thursday’s snap legislative elections.
Dissanayake, who assumed the presidency in September with a commitment to fight corruption and recover misappropriated assets, now aims to solidify his position following Sri Lanka’s severe economic crisis two years ago, which saw former president Gotabaya Rajapaksa ousted.
On Thursday, the 55-year-old president indicated he anticipated "a strong majority" in parliament to continue his agenda.
“We believe this election will be a defining moment for Sri Lanka,” Dissanayake told reporters after casting his vote in the capital.
“At this election, the NPP expects a mandate for a very strong majority in parliament,” he added, referring to the National People's Power coalition led by his party, the People’s Liberation Front (JVP).
Police reported that the nine-hour voting process was free of violent incidents, a contrast to previous elections, though three election workers, including a police constable, died due to illness while on duty.
Turnout figures were not yet available, though election officials noted participation appeared lower than in the presidential election, where nearly 80 percent of eligible voters cast ballots.
“I hope for a government that serves the people,” said 70-year-old pensioner Milton Gankandage, one of the first to vote in Colombo’s Wellawatte district. “Previous leaders deceived us; we need new rulers to develop the country.”
Dissanayake has been a member of parliament for nearly 25 years and briefly served as agriculture minister. His NPP coalition held just three seats in the previous parliament. He rose to the presidency by distancing himself from establishment politicians blamed for Sri Lanka’s economic crisis in 2022.
Dissanayake’s JVP party, which led two major insurrections in the past, resulting in thousands of deaths, has since transformed, with this election among the most peaceful in the country’s history.
University lecturer Sivalogadasan remarked that while changes have begun, fulfilling Dissanayake’s promises will take time. “Some things have started to change... but you can't expect immediate results,” the 52-year-old said.
'Investor confidence'
Nearly 8,900 candidates contested for 225 parliamentary seats.
Despite previously suggesting a potential renegotiation of a controversial $2.9 billion International Monetary Fund (IMF) bailout, Dissanayake has maintained the agreement. The Ceylon Chamber of Commerce, Sri Lanka's main private sector lobby, has expressed support for his reform agenda.
“Continuing reforms... could boost both investor confidence and fiscal discipline, laying the groundwork for sustainable growth,” said Bhuwanekabahu Perera, CCC secretary.
An IMF delegation is scheduled to arrive in Colombo to review Sri Lanka’s progress ahead of the next $330 million tranche of the bailout loan.
Opposition leader Sajith Premadasa, who advocated for a coalition government, pledged at his final campaign rally to “press Dissanayake to fulfil promised tax cuts.”
'Foregone conclusion'
Poll monitors and analysts noted that Thursday's election generated less excitement and violence than past elections.
“The opposition is dead,” said political analyst Kusal Perera. “The outcome of this election is a foregone conclusion.”
The outgoing parliament was primarily controlled by the party of former leaders Mahinda and Gotabaya Rajapaksa. Neither Rajapaksa brother is running, though Mahinda's son Namal, a former sports minister, is contesting.
Private sector employee Damayantha Perera, 49, said he was aware the election would likely favour Dissanayake’s NPP but voted for a party that was not predicted to win. “I voted according to my conscience,” he said.
UK life sciences sector contributed £17.6bn GVA in 2021 and supports 126,000 high-skilled jobs.
Inward life sciences FDI fell by 58 per cent from £1,897m in 2021 to £795m in 2023.
Experts warn NHS underinvestment and NICE pricing rules are deterring innovation and patient access.
Investment gap
Britain is seeking to attract new pharmaceutical investment as part of its plan to strengthen the life sciences sector, Chancellor Rachel Reeves said during meetings in Washington this week. “We do need to make sure that we are an attractive place for pharmaceuticals, and that includes on pricing, but in return for that, we want to see more investment flow to Britain,” Reeves told reporters.
Recent ABPI report, ‘Creating the conditions for investment and growth’, The UK’s pharmaceutical industry is integral to both the country’s health and growth missions, contributing £17.6 billion in direct gross value added (GVA) annually and supporting 126,000 high-skilled jobs across the nation. It also invests more in research and development (R&D) than any other sector. Yet inward life sciences foreign direct investment (FDI) fell by 58per cent, from £1,897 million in 2021 to £795 million in 2023, while pharmaceutical R&D investment in the UK lagged behind global growth trends, costing an estimated £1.3 billion in lost investment in 2023 alone.
Richard Torbett, ABPI Chief Executive, noted “The UK can lead globally in medicines and vaccines, unlocking billions in R&D investment and improving patient access but only if barriers are removed and innovation rewarded.”
The UK invests just 9% of healthcare spending in medicines, compared with 17% in Spain, and only 37% of new medicines are made fully available for their licensed indications, compared to 90% in Germany.
Expert reviews
Shailesh Solanki, executive editor of Pharmacy Business, pointed that “The government’s own review shows the sector is underfunded by about £2 billion per year. To make transformation a reality, this gap must be closed with clear plans for investment in people, premises and technology.”
The National Institute for Health and Care Excellence (NICE) cost-effectiveness threshold £20,000 to £30,000 per Quality-Adjusted Life Year (QALY) — has remained unchanged for over two decades, delaying or deterring new medicine launches. Raising it is viewed as vital to attracting foreign investment, expanding patient access, and maintaining the UK’s global standing in life sciences.
Guy Oliver, General Manager for Bristol Myers Squibb UK and Ireland, noted that " the current VPAG rate is leaving UK patients behind other countries, forcing cuts to NHS partnerships, clinical trials, and workforce despite government growth ambitions".
Reeves’ push for reform, supported by the ABPI’s Competitiveness Framework, underlines Britain’s intent to stay a leading hub for pharmaceutical innovation while ensuring NHS patients will gain faster access to new treatments.
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