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Govt. should not deviate from agenda of national needs in discussions to find solutions to crises – Eran
Member of Parliament of the Samagi Janabalavegaya, Eran Wickramaratne has said the country’s crises cannot be resolved only by agreeing to the agendas of multilateral agencies that provide assistance to find solutions to the crises that Sri Lanka is currently facing. When holding discussions with the International Monetary Fund, the government should adopt a strategy to discuss not only their agenda but also to include our agenda of national interest.
Wickramaratne said this while addressing the debate held in Parliament yesterday (10) on the President’s policy statement.
The MP said:
The International Monetary Fund has advised us to revise the electricity tariffs. It has also been said to restructure the balance sheet of the petroleum corporation. It is also said to increase the perimeter of the external credit limit. As of now, our foreign debt is about 30% of the total debt.
Dealings have to be negotiated with other parties who agree to assist in resolving issues. The unique problem for Sri Lanka is the non-availability of dollars. There are also issues with financial problems and a balance of payments related to the budget. But we have no problem with banks. If we do not engage in negotiations to protect our banking system, the emergence of another crisis cannot be avoided.
Wickramaratne asserted that Sri Lanka should not ever consider the domestic debt restructuring proposal in particular. We must be firm in that position. Otherwise, while trying to solve one problem, the country may be pushed into another problem. If a banking crisis occurs, it will take another decade to resolve it.
He said:
In the economic crisis we are facing, the huge problem is the national debt. According to government statistics on public debt, the percentage of debt received from China is 10%. 13% from the Asian Development Bank, 9% from the World Bank, and 47% from sovereign bonds (ISB). 10% from Japan, 2% from India and 9% from all other countries.
Statistics prove that China has actually given more than what was shown in the debt stock. The China Exim Bank has given loans directly to several SoEs with sovereign guarantees and the government has not reported them as government loans. These loans given to public corporations are also government loans and the government itself has to repay them. Also, in Foreign Currency Financing, the amount to be paid to China Development Bank is not included as public debt. From this point of view, the total amount of debt received from China is about 20%.
There are other facts that explain the magnitude of our crisis. Japan’s JICA has stopped the concessional loan of 570 million dollars given for the construction project of the second terminal building at Katunayake Airport. And China’s Exim Bank has also stopped US $ 51 million offered for the construction of the first phase of the Central Expressway from Kadawata to Mirigama, Also, the World Bank announced, on July 29, 2022, that it will not lend to Sri Lanka until macroeconomic stability is established.
“How can the government solve the country’s problems in the midst of such crises” asked Eran Wickramaratne.
The government should understand that these problems cannot be solved just as suggested by other parties involved in the discussion with the government. When holding discussions with the International Monetary Fund, the government should be strategic to include our agenda in the discussion, instead of merely agreeing to follow their agenda alone.
Focusing on the President’s policy statement, Eran Wickramaratne quoted as follows:
“It is imperative to completely eradicate bribery, corruption, and fraud from this society. I will implement a national anti-bribery and corruption policy. We are also approaching combatting corruption with the International Monetary Fund,” declared in that policy statement.
But how can we deviate from the culture of corruption in our country? The main reason for this culture is bribery and corruption. The current Prime Minister also then said that the current President robbed the Central Bank when he was the Prime Minister.
What is clear when studying the history of the last four decades is that there is no way to find out how much the public funds of this country have been looted more or less by the politicians and high officials like chain links by making use of the words democracy, religion, racism and national security in front of them.
Politicians protect their fellow officers who are accused of irregularities and theft. Officers protect their employers – the politicians – and, throughout history, these two parties have been seen sneaking through the loopholes of the law through a soul bond and Wickramaratne demanded that apart from politicians, professionals, too, should come forward in order to build the country.
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
