President Calls for Revitalised Co-operative Network to Stabilise Prices in Sri Lanka's Small Market

President Anura Kumara Dissanayake has called for a fundamental strengthening of Sri Lanka's co-operative movement, arguing that market competition alone cannot be relied upon to regulate the prices of goods and services in a small economy like Sri Lanka's.

Market Competition Insufficient for Price Regulation

Addressing the need for structural economic reform, the President stressed that the unique characteristics of Sri Lanka's limited market mean that price regulation through competition between private players is simply not adequate. He underscored the importance of the Government taking an active and deliberate role in establishing a strong price regulatory framework to protect consumers.

Co-operatives as a Market Force

President Dissanayake called for the co-operative movement to be transformed into a robust and well-organised network capable of playing a meaningful and active role in the marketplace. Rather than existing as a peripheral institution, he envisions co-operatives serving as a genuine counterbalance to private market forces, helping to keep the cost of essential goods in check for ordinary Sri Lankans.

The co-operative movement must be strengthened into a robust network that plays an active role in the market, the President emphasised.

Broader Economic Vision

The President's remarks reflect the government's broader economic philosophy, which places greater emphasis on state-guided mechanisms to ensure fair pricing and equitable access to essential commodities. Officials believe that a revitalised co-operative sector could serve as one of the key pillars in achieving greater economic stability and reducing the burden on Sri Lankan households.

The call to action signals that the government intends to pursue concrete policy measures aimed at repositioning co-operatives as dynamic economic institutions rather than outdated relics, bringing renewed relevance to a movement that was once central to Sri Lanka's post-independence economic vision.