News
DEW: Rs. 229 bn relief package will lead to printing more money
… says govt. has got priorities mixed up
By Shamindra Ferdinando
Former Minister D.E.W. Gunasekera says that the cash-strapped government lacked the wherewithal to implement the much publicized Rs 229 bn relief package.
Therefore, the one-time General Secretary of the Communist Party said the government had no option but to print more money at the expense of financial stability at a time the country was under tremendous pressure. The former minister quit the top party post in August 2020.
CP organ ‘Aththa,’ in its January 09, 2022 edition quoted the former lawmaker as having alleged that the Rs 229 bn relief package meant for the public sector, pensioners and Samurdhi recipients was nothing but a political strategy to revive the waning popularity of the government.
Declaring that he had no issue with the government providing relief to the public sector et al, the ex-MP warned that such measures wouldn’t help resolve the growing crisis. The outspoken former minister said that the controversial relief package should be examined against the backdrop of the failure on the part of the government to allocate the required funds through the 2022 budget.
Mr. Gunasekera last served as a National List MP from 2010 to 2015.
Reiterating that such a move had been necessitated by political compulsions, the veteran Communist warned of the grave risk of rising inflation. The CP member questioned the absence of a mechanism to assist those in the private sector, small and medium scale industries as well as the unregulated economy. The much weakened national economy couldn’t be revived unless the government paid attention to the neglected sectors.
The veteran politician explained how the global Covid-19 epidemic devastated the unregulated economy world over. However, the government hasn’t taken into consideration the fuller picture. Instead the government sought to use the financial package to counter dissenting views within the government.
The ex-Minister said that even if printing money caused inflation, the government could have achieved positive results if the total amount was used to increase domestic production. Had that happened, the government could have accomplished both political and economic objectives.
The former MP said that incumbent Finance Minister Basil Rajapaksa hadn’t still understood the developing economic crisis.
Mr. Gunasekera told The Island that the private sector, including the plantation companies had quite clearly turned down the government request to match the special Rs. 5,000 monthly grant to employees. The government seemed not to have examined the situation at all, the former MP said, asserting that the current crisis could be the worst ever in post-independence Sri Lanka.
Continuing political instability in the wake of serious differences among coalition members with three ministers challenging a cabinet decision in the Supreme Court has jeopardized recovery attempts, Mr. Gunasekera said.
The one-time Chairman of the Committee on Public Enterprises (COPE) emphasized the pivotal importance of some real effort to reach consensus on the country’s response to the emerging threat. “We are almost overwhelmed. Unless tangible measures are taken there can be a catastrophe. Losses are likely to be immeasurable and irrevocable.”
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
