Features
JVP stance on debt traps, fertilizer import bans, ports and PC elections
by Saman Indrajith
The JVP says that the country is caught-up in what it calls ‘debt-trap diplomacy’ and warns that Sri Lanka is poised to lose more national assets in the immediate future. “Several rating agencies downgraded Sri Lanka’s sovereign credit ratings, the long-term foreign-currency issuer and senior unsecured ratings, while the long-term foreign-currency issuer default rating signalling concerns about the country’s ability to fulfil foreign debt repayments. In the face of this crisis, the government will either have to print more currency, borrow more or sell off national assets,” says former JVP Kalutara District MP and Politburo member Dr Nalinda Jayatissa in an interview with the Sunday Island.
Excerpts:
Q: Some ministers have made statements about the possibility of holding elections for provincial councils. Is your party ready for provincial council elections?
A: They started speaking of provincial council elections only after Indian Foreign Secretary Harsh Vardhan Shringla’s recent visit. The visit has jolted the government into action. The elections are to be held not because people have asked for them but because India wants the government to have them. This indicates the present plight of our nation. In 2019, Gotabaya Rajapaksa came to power under the slogan of ‘Rata Rakina Viruva’ (The hero who protects the country). Now that same hero has succumbed to pressure from India, the US and China and many other foreign powers.
Q: Energy Minister Udaya Gammanpila says that Trincomalee oil tank farm had been given to India by former governments in 1987 and 2003. The present government tries to show they are on a mission get the tanks back from India. What is your party’s stand on this?
A: We believe that Trincomalee harbour and the oil tank farm were the reason for India shoving the Indo-Lanka Accord down our throat in 1987. The then President was supportive of US camp while India was supporting the USSR bloc. President Jayewardene was considering giving Trincomalee to the US. India was upset and invaded the air space of this country, dropped parippu and sent Indian ships to our waters to terrorize that government and coerce it to sign the Indo-Lanka Accord.
The correspondence between Jayewardene and Rajiv Gandhi before the signing of the Accord shows that India would not let Lanka make independent decisions about the use of Trincomalee harbour without India’s concurrence. But such conditions are not included in the agreement. In 2003, Ranil Wickremesinghe’s government leased 99 oil tanks for 35 years to India for an annual fee of 100,000 US dollars. A Memorandum of Understanding was signed to reach an agreement in six months. It is only with the signing of such an MoU that the lease would have had legal effect. However there has been no such agreement since 2003. Therefore, India does not have any legal hold of the oil tanks and that land. Yet, they have paid the annual fee for the past 18 years.
Gammanpila is only putting up a show. The former ministers who had the Ceylon Petroleum Corporation (CPC) under their purview, Susil Premjayantha, Anura Priyadarshana Yapa and Chandima Weerakkody, got cabinet papers passed in 2011, 2014 and 2016 stating that those oil tanks belong to the Lankan government. India continues to hold those tanks illegally. One of our trade unions in 2017 filed a case at the Supreme Court against this. The decision is pending.
In terms of the provisions of the Ceylon Petroleum Corporation Act No. 28 of 1961, only the CPC can import petroleum to this country. Ranil Wickremesinghe broke that monopoly in 2004 and gave permission to Lanka Indian Oil Corporation (LIOC) to import fuel for 20 years with effect from January that year. That permission expires in December, 2023. Then the monopoly of petroleum importing, exporting, storing, refining, distributing and selling will return to the CPC. If government would not extend this permit, then India will lose its argument for the need to use Trincomalee Tank Farm. India’s present need is to get the oil tanks and the land they stand on for another 50 to 60 years. That was the primary objective of the Indian Foreign Secretary’s visit. Their actual target is the Trincomalee harbour and the oil tank farm gives them a foothold to move in that direction.
Q: So it’s all about Trincomalee harbour?
A: Yes, it is. Not a single harbour but many. The harbour in Trincomalee is considered one of the finest deep-sea, natural harbours in a strategic location. Sri Lanka’s geostrategic location is vital not only for the Asia-Pacific region but for the entire world. The importance of that location finally depends on the control of our harbours. We have three main harbours in Colombo, Hambantota and Trincomalee. What has happened to them? Hambantota is now owned by China for 198 years. It is China that controls the Hambantota port and its surrounding land of 15,000 acres. The Trincomalee harbour is being eyed by India. Then we have the Colombo Port, which is considered one of the busiest harbours in the Indian Ocean and is at No. 24 in the Top 50 World Container Ports list.
This position could be bettered if we could increase the depth of the access route to that port, deepen and expand the terminals and berths and increase the number of terminal operations opening the way for the world’s largest vessels to enter the Colombo Port. Now South Asia Gateway Terminal (SAGT) with berth of 18 meter depth is controlled by China. Mahinda Rajapaksa gave it to China for 35 years in 2012. Basil Rajapaksa recently brought a cabinet paper to give 13 acres of adjacent land to China to set up an operational and service center. So, even when the 35-year period ends, China will still have control there.
When China is given such hold, other countries also try to get a piece of the pie. The Selendiva project will enable selling many adjacent areas covering the Grand Oriental Hotel, Gafoor Building, York Building, Foreign Ministry and the old GPO. The Bank of Ceylon (York Street) is earmarked to be moved to Battaramullla, so that land too could be sold. There had been an attempt to give away the East Container Terminal (ECT) to an Indian company but it was suspended owing to protests. SAGT could be taken back by the Ports Authority in 2028. Currently it is under John Keells Holdings which is the local agent of India’s Adani Group that is involved in the West Container Terminal (WCT) development. After building that terminal, the two most important terminals of the Colombo Port will be controlled by China and India. This process shows how we have lost control of the three most important terminals during the past ten years. The income they earn is taken by foreigners to their countries leaving us with little.
Historical records show that the harbours have been among the most important feature in our civilisation. Recent archaeological findings yield evidence to prove that the Anuradhapura civilisation had been founded on the Mathota harbour which is said to be in Mannar. It was this harbour that supported the thriving Anuradhapura civilisation that constructed giant stupas and tanks during the 400 years from 150 AD to 250 AD.
During that period, South Indian traders invaded the Anuradhapura kingdom and ruled it intermittently when they had the control of Mathota and its resources. King Elara ruled that kingdom for 44 years and took away what it generated to South India. Later five other South Indian rulers before King Vattagamani Abhaya did the same. They took home what was earned from that harbour. They (the harbours) have been a principal prop of our civilisation.
Even when the Portuguese came here, they asked the King of Kotte only for one thing – that was to build a fort near the Colombo port. The present day rulers are depriving this country and its people the ownership of those harbours and thereby we lose the country’s geostrategic importance.
Q: The government describes those transactions as investments. Do not we need such investments?
A: China spent only USD 500 million to develop South Terminal of Colombo Port. The Lankan government took a loan of USD 1,400 million to build the Hambantota port. If the government took a loan of USD 500 million instead and developed the South Terminal of the Colombo Port, then we would have earned profits from there. China or India will not come here to invest in our health, transport or education sectors. Their investments have the objective of snaring us in a debt trap and taking control of our assets.
Even the previous governments used to have similar excuses. They used to say there were loss making enterprises which needed to be privatized. That has no place in the present times, so they use the word investments. For example, 40 percent of the Kerawalapitiya power plant is being sold to America’s New Fortress Energy (NFE). That plant is built and we could earn profits in the years ahead. Now it is being sold. The government is handing over the gas pipeline and floating storage system for the Kerawalapitiya power plant with the entire supply of gas to the NFE for a period of 10 years. There is massive waste, fraud and corruption in awarding this contract.
A contract has been awarded to the company without a tender to supply liquefied natural gas for 10 years at a cost of US$ 6 billion. Usually, we need electricity from the Kerawalapitiya power plant only between 6.00 pm and 12.00 pm. The ‘Take or Pay’ (TOP) deal to which we have committed ourselves is hugely disadvantageous as we will be paying for LNG we will not be using because we don’t need it. Could such deals be called investments?
This power plant is to supply around 35 percent of the power generated to the national grid. So NFE will have a near power supply monopoly in this country. It will also have the opportunity to place ships for floating storage near Colombo harbour permanently. These are not investments. If they really are investments, the government should have called for separate tenders for the floating storage and the pipeline and kept the ownership of the plant 100 percent. Gas could have been purchased at the world market prices through spot tender or term tender processes.
Q: The government says that there is economic instability therefore they are compelled to take such decisions. Is this true?
A: It is those whoz had governed this country since Independence, who should be held responsible for the current economic instability. As of now the country’s sum total of debt is nearly 17,000 billion rupees. Our total revenue is not sufficient to pay the loan and interest instalments. In this scenario, the government has solutions such as printing money, taking more loans and selling off national assets to pay the loans. It is said that the government has printed currency notes worth Rs 1,400 billions during the past 20 months. It is a sum equal to total government revenue for a year. This would certainly result in inflation.
People should ask the question why we have borrowed so much. We as a nation are trapped in debt raised for loans taken for mega projects some of which were not our priorities. A country with an economy like this should never have borrowed to build an International Cricket Stadium at Sooriyawewa, an International Convention Hall at Hambantota or the Lotus Tower in Colombo. These are neither essential nor priorities. The loans taken to pay for them were many times their actual cost with commissions ending up in the pockets of politicians. Whenever there are international exposés such as the recent Pandora Papers, many names of Lankans surface. They show how such commissions are stashed away in overseas accounts. What these political leaders do is show people a mega project and take their cut. When the loan cannot be settled they sell off national assets. This is the ultimate consequence of a process known as ‘debt-trap diplomacy’. We are in this plight because of a corrupt political culture.
Q: Hardly a day passes without a protest. Farmers stage protests everywhere in the rural hinterland demanding fertilizer. What’s the JVP standpoint on this fertilizer issue? Do you recommend continued use of chemical fertilizers?
A: The first excuse of the government when they abruptly stopped imports of chemical fertilizers, insecticides, weedicides and pesticides was that this was done to save dollars going out of the country. Then weeks later they said the ban was to save people from kidney disease and cancer. Organic fertilizers are fine but no country can switch from chemical to organic all at once. It is not feasible to ask farmers to go organic in the next Maha season soon after the end of Yala season. Farmers, agricultural scientists and everyone who dared to open their mouths in the Agriculture Ministry repeatedly said that this was not practical. But the President and the government did not listen. Now we are in a crisis. This will surely result in a food scarcity in a few months time.
The government says that it will compensate the farmers for crop losses if that happens. Such compensation would be sufficient only for few months for the farmers. But what about the food shortages? You cannot eat currency notes. This is just another example for the whimsical nature of this President. Apart from that there is a serious doubt whether this is just the beginning of a plan with the objective of compelling farmers to sell their land. When farmers cannot cultivate for two or three seasons, they have no option but to give up their livelihoods. They will have to sell their land or lease them to companies. This is an agricultural country. When agriculture is destroyed this country would go bankrupt in few years time.
by Dr Gotabhya Ranasinghe
Senior Consultant Cardiologist
National Hospital Sri Lanka
When we sought a meeting with Hon Dr. Ramesh Pathirana, Minister of Health, he graciously cleared his busy schedule to accommodate us. Renowned for his attentive listening and deep understanding, Minister Pathirana is dedicated to advancing the health sector. His openness and transparency exemplify the qualities of an exemplary politician and minister.
Dr. Palitha Mahipala, the current Health Secretary, demonstrates both commendable enthusiasm and unwavering support. This combination of attributes makes him a highly compatible colleague for the esteemed Minister of Health.
Our discussion centered on a project that has been in the works for the past 30 years, one that no other minister had managed to advance.
Minister Pathirana, however, recognized the project’s significance and its potential to revolutionize care for heart patients.
The project involves the construction of a state-of-the-art facility at the premises of the National Hospital Colombo. The project’s location within the premises of the National Hospital underscores its importance and relevance to the healthcare infrastructure of the nation.
This facility will include a cardiology building and a tertiary care center, equipped with the latest technology to handle and treat all types of heart-related conditions and surgeries.
Securing funding was a major milestone for this initiative. Minister Pathirana successfully obtained approval for a $40 billion loan from the Asian Development Bank. With the funding in place, the foundation stone is scheduled to be laid in September this year, and construction will begin in January 2025.
This project guarantees a consistent and uninterrupted supply of stents and related medications for heart patients. As a result, patients will have timely access to essential medical supplies during their treatment and recovery. By securing these critical resources, the project aims to enhance patient outcomes, minimize treatment delays, and maintain the highest standards of cardiac care.
Upon its fruition, this monumental building will serve as a beacon of hope and healing, symbolizing the unwavering dedication to improving patient outcomes and fostering a healthier society.We anticipate a future marked by significant progress and positive outcomes in Sri Lanka’s cardiovascular treatment landscape within the foreseeable timeframe.
by Fr. Emmanuel Fernando, OMI
Jesuit Fr. Aloysius Pieris (affectionately called Fr. Aloy) celebrated his 90th birthday on April 9, 2024 and I, as the editor of our Oblate Journal, THE MISSIONARY OBLATE had gone to press by that time. Immediately I decided to publish an article, appreciating the untiring selfless services he continues to offer for inter-Faith dialogue, the renewal of the Catholic Church, his concern for the poor and the suffering Sri Lankan masses and to me, the present writer.
It was in 1988, when I was appointed Director of the Oblate Scholastics at Ampitiya by the then Oblate Provincial Fr. Anselm Silva, that I came to know Fr. Aloy more closely. Knowing well his expertise in matters spiritual, theological, Indological and pastoral, and with the collaborative spirit of my companion-formators, our Oblate Scholastics were sent to Tulana, the Research and Encounter Centre, Kelaniya, of which he is the Founder-Director, for ‘exposure-programmes’ on matters spiritual, biblical, theological and pastoral. Some of these dimensions according to my view and that of my companion-formators, were not available at the National Seminary, Ampitiya.
Ever since that time, our Oblate formators/ accompaniers at the Oblate Scholasticate, Ampitiya , have continued to send our Oblate Scholastics to Tulana Centre for deepening their insights and convictions regarding matters needed to serve the people in today’s context. Fr. Aloy also had tried very enthusiastically with the Oblate team headed by Frs. Oswald Firth and Clement Waidyasekara to begin a Theologate, directed by the Religious Congregations in Sri Lanka, for the contextual formation/ accompaniment of their members. It should very well be a desired goal of the Leaders / Provincials of the Religious Congregations.
Besides being a formator/accompanier at the Oblate Scholasticate, I was entrusted also with the task of editing and publishing our Oblate journal, ‘The Missionary Oblate’. To maintain the quality of the journal I continue to depend on Fr. Aloy for his thought-provoking and stimulating articles on Biblical Spirituality, Biblical Theology and Ecclesiology. I am very grateful to him for his generous assistance. Of late, his writings on renewal of the Church, initiated by Pope St. John XX111 and continued by Pope Francis through the Synodal path, published in our Oblate journal, enable our readers to focus their attention also on the needed renewal in the Catholic Church in Sri Lanka. Fr. Aloy appreciated very much the Synodal path adopted by the Jesuit Pope Francis for the renewal of the Church, rooted very much on prayerful discernment. In my Religious and presbyteral life, Fr.Aloy continues to be my spiritual animator / guide and ongoing formator / acccompanier.
Fr. Aloysius Pieris, BA Hons (Lond), LPh (SHC, India), STL (PFT, Naples), PhD (SLU/VC), ThD (Tilburg), D.Ltt (KU), has been one of the eminent Asian theologians well recognized internationally and one who has lectured and held visiting chairs in many universities both in the West and in the East. Many members of Religious Congregations from Asian countries have benefited from his lectures and guidance in the East Asian Pastoral Institute (EAPI) in Manila, Philippines. He had been a Theologian consulted by the Federation of Asian Bishops’ Conferences for many years. During his professorship at the Gregorian University in Rome, he was called to be a member of a special group of advisers on other religions consulted by Pope Paul VI.
Fr. Aloy is the author of more than 30 books and well over 500 Research Papers. Some of his books and articles have been translated and published in several countries. Among those books, one can find the following: 1) The Genesis of an Asian Theology of Liberation (An Autobiographical Excursus on the Art of Theologising in Asia, 2) An Asian Theology of Liberation, 3) Providential Timeliness of Vatican 11 (a long-overdue halt to a scandalous millennium, 4) Give Vatican 11 a chance, 5) Leadership in the Church, 6) Relishing our faith in working for justice (Themes for study and discussion), 7) A Message meant mainly, not exclusively for Jesuits (Background information necessary for helping Francis renew the Church), 8) Lent in Lanka (Reflections and Resolutions, 9) Love meets wisdom (A Christian Experience of Buddhism, 10) Fire and Water 11) God’s Reign for God’s poor, 12) Our Unhiddden Agenda (How we Jesuits work, pray and form our men). He is also the Editor of two journals, Vagdevi, Journal of Religious Reflection and Dialogue, New Series.
Fr. Aloy has a BA in Pali and Sanskrit from the University of London and a Ph.D in Buddhist Philosophy from the University of Sri Lankan, Vidyodaya Campus. On Nov. 23, 2019, he was awarded the prestigious honorary Doctorate of Literature (D.Litt) by the Chancellor of the University of Kelaniya, the Most Venerable Welamitiyawe Dharmakirthi Sri Kusala Dhamma Thera.
Fr. Aloy continues to be a promoter of Gospel values and virtues. Justice as a constitutive dimension of love and social concern for the downtrodden masses are very much noted in his life and work. He had very much appreciated the commitment of the late Fr. Joseph (Joe) Fernando, the National Director of the Social and Economic Centre (SEDEC) for the poor.
In Sri Lanka, a few religious Congregations – the Good Shepherd Sisters, the Christian Brothers, the Marist Brothers and the Oblates – have invited him to animate their members especially during their Provincial Congresses, Chapters and International Conferences. The mainline Christian Churches also have sought his advice and followed his seminars. I, for one, regret very much, that the Sri Lankan authorities of the Catholic Church –today’s Hierarchy—- have not sought Fr.
Aloy’s expertise for the renewal of the Catholic Church in Sri Lanka and thus have not benefited from the immense store of wisdom and insight that he can offer to our local Church while the Sri Lankan bishops who governed the Catholic church in the immediate aftermath of the Second Vatican Council (Edmund Fernando OMI, Anthony de Saram, Leo Nanayakkara OSB, Frank Marcus Fernando, Paul Perera,) visited him and consulted him on many matters. Among the Tamil Bishops, Bishop Rayappu Joseph was keeping close contact with him and Bishop J. Deogupillai hosted him and his team visiting him after the horrible Black July massacre of Tamils.
Sri Lanka-Singapore Free Trade Agreement
By Gomi Senadhira
senadhiragomi@gmail.com
“You might tell fairy tales, but the progress of a country cannot be achieved through such narratives. A country cannot be developed by making false promises. The country moved backward because of the electoral promises made by political parties throughout time. We have witnessed that the ultimate result of this is the country becoming bankrupt. Unfortunately, many segments of the population have not come to realize this yet.” – President Ranil Wickremesinghe, 2024 Budget speech
Any Sri Lankan would agree with the above words of President Wickremesinghe on the false promises our politicians and officials make and the fairy tales they narrate which bankrupted this country. So, to understand this, let’s look at one such fairy tale with lots of false promises; Ranil Wickremesinghe’s greatest achievement in the area of international trade and investment promotion during the Yahapalana period, Sri Lanka-Singapore Free Trade Agreement (SLSFTA).
It is appropriate and timely to do it now as Finance Minister Wickremesinghe has just presented to parliament a bill on the National Policy on Economic Transformation which includes the establishment of an Office for International Trade and the Sri Lanka Institute of Economics and International Trade.
Was SLSFTA a “Cleverly negotiated Free Trade Agreement” as stated by the (former) Minister of Development Strategies and International Trade Malik Samarawickrama during the Parliamentary Debate on the SLSFTA in July 2018, or a colossal blunder covered up with lies, false promises, and fairy tales? After SLSFTA was signed there were a number of fairy tales published on this agreement by the Ministry of Development Strategies and International, Institute of Policy Studies, and others.
However, for this article, I would like to limit my comments to the speech by Minister Samarawickrama during the Parliamentary Debate, and the two most important areas in the agreement which were covered up with lies, fairy tales, and false promises, namely: revenue loss for Sri Lanka and Investment from Singapore. On the other important area, “Waste products dumping” I do not want to comment here as I have written extensively on the issue.
1. The revenue loss
During the Parliamentary Debate in July 2018, Minister Samarawickrama stated “…. let me reiterate that this FTA with Singapore has been very cleverly negotiated by us…. The liberalisation programme under this FTA has been carefully designed to have the least impact on domestic industry and revenue collection. We have included all revenue sensitive items in the negative list of items which will not be subject to removal of tariff. Therefore, 97.8% revenue from Customs duty is protected. Our tariff liberalisation will take place over a period of 12-15 years! In fact, the revenue earned through tariffs on goods imported from Singapore last year was Rs. 35 billion.
The revenue loss for over the next 15 years due to the FTA is only Rs. 733 million– which when annualised, on average, is just Rs. 51 million. That is just 0.14% per year! So anyone who claims the Singapore FTA causes revenue loss to the Government cannot do basic arithmetic! Mr. Speaker, in conclusion, I call on my fellow members of this House – don’t mislead the public with baseless criticism that is not grounded in facts. Don’t look at petty politics and use these issues for your own political survival.”
I was surprised to read the minister’s speech because an article published in January 2018 in “The Straits Times“, based on information released by the Singaporean Negotiators stated, “…. With the FTA, tariff savings for Singapore exports are estimated to hit $10 million annually“.
As the annual tariff savings (that is the revenue loss for Sri Lanka) calculated by the Singaporean Negotiators, Singaporean $ 10 million (Sri Lankan rupees 1,200 million in 2018) was way above the rupees’ 733 million revenue loss for 15 years estimated by the Sri Lankan negotiators, it was clear to any observer that one of the parties to the agreement had not done the basic arithmetic!
Six years later, according to a report published by “The Morning” newspaper, speaking at the Committee on Public Finance (COPF) on 7th May 2024, Mr Samarawickrama’s chief trade negotiator K.J. Weerasinghehad had admitted “…. that forecasted revenue loss for the Government of Sri Lanka through the Singapore FTA is Rs. 450 million in 2023 and Rs. 1.3 billion in 2024.”
If these numbers are correct, as tariff liberalisation under the SLSFTA has just started, we will pass Rs 2 billion very soon. Then, the question is how Sri Lanka’s trade negotiators made such a colossal blunder. Didn’t they do their basic arithmetic? If they didn’t know how to do basic arithmetic they should have at least done their basic readings. For example, the headline of the article published in The Straits Times in January 2018 was “Singapore, Sri Lanka sign FTA, annual savings of $10m expected”.
Anyway, as Sri Lanka’s chief negotiator reiterated at the COPF meeting that “…. since 99% of the tariffs in Singapore have zero rates of duty, Sri Lanka has agreed on 80% tariff liberalisation over a period of 15 years while expecting Singapore investments to address the imbalance in trade,” let’s turn towards investment.
Investment from Singapore
In July 2018, speaking during the Parliamentary Debate on the FTA this is what Minister Malik Samarawickrama stated on investment from Singapore, “Already, thanks to this FTA, in just the past two-and-a-half months since the agreement came into effect we have received a proposal from Singapore for investment amounting to $ 14.8 billion in an oil refinery for export of petroleum products. In addition, we have proposals for a steel manufacturing plant for exports ($ 1 billion investment), flour milling plant ($ 50 million), sugar refinery ($ 200 million). This adds up to more than $ 16.05 billion in the pipeline on these projects alone.
And all of these projects will create thousands of more jobs for our people. In principle approval has already been granted by the BOI and the investors are awaiting the release of land the environmental approvals to commence the project.
I request the Opposition and those with vested interests to change their narrow-minded thinking and join us to develop our country. We must always look at what is best for the whole community, not just the few who may oppose. We owe it to our people to courageously take decisions that will change their lives for the better.”
According to the media report I quoted earlier, speaking at the Committee on Public Finance (COPF) Chief Negotiator Weerasinghe has admitted that Sri Lanka was not happy with overall Singapore investments that have come in the past few years in return for the trade liberalisation under the Singapore-Sri Lanka Free Trade Agreement. He has added that between 2021 and 2023 the total investment from Singapore had been around $162 million!
What happened to those projects worth $16 billion negotiated, thanks to the SLSFTA, in just the two-and-a-half months after the agreement came into effect and approved by the BOI? I do not know about the steel manufacturing plant for exports ($ 1 billion investment), flour milling plant ($ 50 million) and sugar refinery ($ 200 million).
However, story of the multibillion-dollar investment in the Petroleum Refinery unfolded in a manner that would qualify it as the best fairy tale with false promises presented by our politicians and the officials, prior to 2019 elections.
Though many Sri Lankans got to know, through the media which repeatedly highlighted a plethora of issues surrounding the project and the questionable credentials of the Singaporean investor, the construction work on the Mirrijiwela Oil Refinery along with the cement factory began on the24th of March 2019 with a bang and Minister Ranil Wickremesinghe and his ministers along with the foreign and local dignitaries laid the foundation stones.
That was few months before the 2019 Presidential elections. Inaugurating the construction work Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts.
The oil refinery, which was to be built over 200 acres of land, with the capacity to refine 200,000 barrels of crude oil per day, was to generate US$7 billion of exports and create 1,500 direct and 3,000 indirect jobs. The construction of the refinery was to be completed in 44 months. Four years later, in August 2023 the Cabinet of Ministers approved the proposal presented by President Ranil Wickremesinghe to cancel the agreement with the investors of the refinery as the project has not been implemented! Can they explain to the country how much money was wasted to produce that fairy tale?
It is obvious that the President, ministers, and officials had made huge blunders and had deliberately misled the public and the parliament on the revenue loss and potential investment from SLSFTA with fairy tales and false promises.
As the president himself said, a country cannot be developed by making false promises or with fairy tales and these false promises and fairy tales had bankrupted the country. “Unfortunately, many segments of the population have not come to realize this yet”.
(The writer, a specialist and an activist on trade and development issues . )
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
