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FSP opposes move to make Central Bank of Sri Lanka independent of Parliament
The Frontline Socialist Party says that the Central Bank of Sri Lanka Bill, if passed, would enable President Ranil Wickremesinghe to come to Parliament one day and state that there had been no Central Bank robbery for there had been no Central Bank to be robbed.
Addressing the media at the party headquarters, in Nuegegoda, FSP Educational Secretary, Pubudu Jagoda, said that the new legislation would deprive Parliament of power over the Central Bank. “This Bill contains provisions to do away with the Parliament’s powers of controlling the Central Bank. Parliament has the supreme control over public finance. It will hand the Central Bank’s autonomy to a few officials,” Jagoda said. “This Bill contains nothing but realisation of the general concept of an Independent Central Bank (ICB) promoted across the world by neo-classical economists and institutions such as the IMF. ICBs are fundamentally antithetical to democracy. The Parliament of elected representatives will lose their power to stop if an ICB oversteps its regulations. Parliament cannot make an ICB accountable. This has been tried and failed in many parts of the world. What happened in Latvia recently exemplifies ICB well. The Latvian Central Bank Governor was accused of bribery and money laundering. The Latvian Parliament voted 55 to 0 against him. However, when he was barred, the European Union stated that it was against the EU law because the Latvian Central Bank was an ‘independent’ institution.
Jagoda said that the US Parliament had been able to nothing when the Federal Reserve bank took away 4.7 trillion dollars from public funds meant for people’s welfare and deposited them in bank accounts of the super-rich.
“Years ago, all the countries had national central banks. It was noticed that there were a hindrance to the global money circulation because the banks were guided by the interests of their countries. Then came a concept proposing to make these banks independent. This independence is given by removing all the rights of the electives of people to intervene in the central bank. The new law will rescind Parliament’s power to appoint top officials of the Central Bank. As of now, Parliament can summon Central Bank officials and question them. This would not be possible if the Central Bank of Sri Lanka Bill is passed. This would surely end the Central Bank’s national role. After the bank is done away with, President Ranil Wickremesinghe could come to Parliament and state that he did not rob the Central bank as there was no Central Bank to be robbed,” Jagoda said.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
