News
Govt. not allocating enough funds to grant relief to public–Economist
By Rathindra Kuruwita
The Sri Lankan government was not allocating funds to ensure the availability of essential public goods despite the gradual stabilisation of the economy, Prof. Priyanga Dunusinghe, of Department of Economics at the Colombo University said addressing the media.
“The government has to maintain roads, provide healthcare and education, security, etc. I don’t see the government allocating the required funds. On the other hand, the prices of goods and services are high, and interest rates are high. So, despite the stabilisation of the economy compared to 2022, the policy makers have a lot to do to ensure that the outlook remains positive in the medium and long term,” he said.
Prof. Dunusinghe said that the Central Bank had played a key role in reducing inflation. The interest rate increase had been painful but necessary to put an end to runaway inflation, he said.
“The government’s tax policy is also important in increasing its revenue. I know that tax hike has impacted a lot of people adversely, and they are angry. However, these hikes were necessary.
He said that the Customs, Inland Revenue Department and the Excise Department had remained inefficient for a long time.
“However, recent declarations by ministers in charge of finance about special acts and regulations are mere rhetoric. However, they have not done what’s needed to reform these institutions. It is obvious that the Central Bank and Finance Ministry is doing the heavy lifting when it comes to economic stabilisation, under IMF conditions. Other ministers have done precious little to help. What has the Export Development Board, Tourism Authority or the Board of Investment done? Without everyone doing their part we can’t overcome this crisis in a sustainable manner “he said. (RK)
Prof. Dunusinghe said most MPs have no interest in reducing the perks they enjoy. In fact, some of them are only interested in profiting from the current crisis. The onus of austerity is on the people and that this has created anger, he said.
“We are taking some steps because the IMF asks. However, there is no discussion or consideration of how these policies will affect the development trajectory of the country. There is no plan. For example, we need to think about reforming the Ceylon Electricity Board in a manner that contributes to the national economy better. However, we are trying to reform the Board so that the burden on the government lessens. There is no consideration of the bigger picture,” he said.
Parliament needs to come up with more stringent fiscal and budget regulations , so that governments can’t deviate from the set path.
“We must use the crisis to bring about a rules based order when it comes to fiscal and monetary affairs. It’s not possible to separate the economy and politics. Politicians and senior bureaucrats have become a privileged class, and this unfortunately has attracted undesirable people. We need to get rid of these privileges, if we want to bring in honest people,” he 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
