FSP: Ranil’s new finance bill based on IMF formula, detrimental to country

Frontline Socialist Party aka Peratugaami pakshaya has alleged that the so-called Economic Transformation Bill will benefit only the corrupt at all levels.

FSP spokesman Pubudu Jagoda claimed that four parties, namely the International Monetary Fund (IMF), the Wickremesinghe-Rajapaksa government that had no mandate from the people, influential and politically connected business community and the neo liberalists masquerading as educated and academics were involved in the operation to enact this law.

The former JVPer said so addressing the media from FSP office at Melder Place, Nugegoda on Wednesday (22) afternoon.

Jagoda said that the proposed law was entirely based on IMF thinking. “They wanted to blame the economic fallout on the budget deficit, thereby hiding the decades’ long balance of payments crisis. That is the real reason,” Jagoda said.

The FSPer alleged that the current dispensation, through the proposed law, aimed to create an environment of impunity for powers that be to go ahead with their sordid operations. Referring to specific sections in the bill that had been submitted to parliament on Wednesday, Jagoda said, adding that the relevant minister could take unilateral decisions with regard to necessary approvals unless anticipated responses weren’t received during the stipulated period.

The existing labour, environments and other laws could come redundant overnight if President Ranil Wickremesinghe enacted the Economic Transformation Bill.

Jagoda claimed that in terms of this law the government could go ahead with projects regardless of consequences for national security as well as public health etc.

On the other hand, Wickremesinghe’s unrealistic dreams, too, had been included in this bill, he said.

Referring to a recent statement issued by SLPP Chairman and former President Mahinda Rajapaksa, Jagoda said that while backing Wickremesinghe in parliament, he, too, had admitted that the current dispensation lacked mandate to take far reaching decisions in respect of privatisation and restructuring.

Declaring that the existing 15 export processing zones were run profitably, Jagoda alleged that Wickremesinghe’s controversial law would pave the way for those near and dear to him and his acolytes to take over these zones. Jagoda disclosed that 90 percent of land of 12 zones had been already assigned to investors. However, the new law would facilitate the establishment of a top-heavy set-up that could be used to accommodate current rulers’ friends and associates (SF)