Features
Life after A.F. Jones, marriage and separation
(Excerpted from the autobiography of Merrill. J. Fernando)
Having severed my connections with AF Jones, I gave myself a respite from an intense work life, literally a dawn to dusk grind, which I had sustained almost on a daily basis, over several years. In view of the nature of my disengagement from AFJ, I also took the precaution of advising all our customers around the world that I had dealt with, of the circumstances that led to my departure. Many responded to me, expressing their dissatisfaction with the manner in which they were being serviced after my exit.
There were also requests for me to return to AFJ with the assurance that I would be permitted to operate without any interference. However I did not consider that even for a moment,
During this rather troubled period, I was administered another shock, by a letter from the Inland Revenue Department, enclosing a punitive assessment for Rs. 50,000 in additional taxes coupled with a directive impounding my passport.
A close friend investigated the matter on my behalf and advised that the department had been sent a set of documents, relating to a personal investment of 600 pounds in shares in the UK; hence the assessment. I immediately realized how the file had got into the hands of the Inland Revenue.
A lady secretary at the American Embassy was the tenant of my ground floor flat and paid me a dollar rent, which I credited to a UK bank account.
From these funds I had invested in Ceylon tea estate company shares in the UK Stock Exchange. Joe Silva, a communist agitator who had created many problems at AFJ, had apparently, on the instructions of Nadesan, my supposed friend, sent an anonymous letter to the Exchange Controller, alleging that I had overseas investments. When the Exchange Controller requested me to submit details of such investment, I showed the documents to Nadesan, who drafted a reply on my behalf. He also kept in his custody the related file of documents – for safekeeping, he said – and it was that file which had found its way to the Inland Revenue.
However, Mr. Mithrasena, the Inland Revenue official who inquired into the matter, was quite satisfied with my explanation regarding the overseas account. He also assisted me in obtaining my statutory dues from the company, by ordering the company to immediately remit the relevant funds to the Inland Revenue, which he released to me soon thereafter.
During this period I had a couple of offers from companies overseas, including one in the United States of America, the latter through a friend of mine, to join his company as a partner. However, I was still passionate about the tea industry in Ceylon and, despite the disappointment with AFJ, I was determined to continue with the tea export business.
Another beginning – Merrill J. Fernando & Co. Ltd.
S_ I. Jafferjee of Jafferjee Brothers, an old and well-established family tea export company, was my good friend and had been very supportive at me during my disputes with the AFJ Board. No sooner I severed my active connection with AFJ, he invited me to join him in his business. I was grateful to him for his offer, but instead, in 1962, I launched a small company of my own, ‘Ceylon Tea Exports,’ operating out of the Jafferjee Brothers’ offices and also using their tea facilities.
The business grew steadily until a major strike by the workers of Jafferjee Brothers disrupted my operations as well. My personal appeals to the strike leaders failed to resolve the issues in contention, even though I went to the extent of visiting their homes to discuss the matter.
Finally, after discussion with “SI,” I moved out of the Jafferjee premises and set up my office at 188, Vauxhall Street, Colombo. At the same time, I also rented warehousing from S. H. Moosajee & Co, at Rs. 15 a square foot. That location is today Park Street Mews, home to a few upscale restaurants. The business of Ceylon Tea Exports was transferred to Merrill J. Fernando Company, which I had set up in 1962.
The beneficial impact of Mr. Gash’s (of National and Grindlays Bank) interventions in my business life were such that I always considered him to have been sent by God! He financed all my operations with the utmost confidence, even when business circumstances were unfavourable. In one instance, during a strike period which held up tea shipments, causing cash flows to dwindle, I visited the bank to seek temporary bridging finance, over and above the normal operational funding. However, his two assistants dissuaded me from going to Gash with my request as they were of the view that he would be placed in a difficult situation.
Seeking an alternative, I walked across to Eastern Bank — today Standard Chartered Bank — and submitted my request to its Head, Peter Bolander who, at our frequent social meetings, would solicit business from me. He asked for time to look up his rule book and then agreed to give me a substantial overdraft facility. When Gash’s assistants heard about my discussions with Bolander, they asked me not to mention my new relationship with the Eastern Bank as that would upset Gash!
Subsequently, I was compelled to take my business away from Grindlays, as its Head Office in Calcutta had taken up the position that I was over-trading and, hence, constituted a risk to the bank. Though Gash and his senior managers explained to their supervisors in Calcutta that I carried out a very efficient operation, in which the product was converted to cash much faster than in any other similar operation, the Calcutta office refused to change its view. By the time I reluctantly moved my business out of Grindlays Mr. Gash had also retired.
Messrs. Gunatilleke and Kularatne at People’s Bank solicited my business, even offering to finance the settling of my old debts, apparently a concession which they normally did not extend to other businessmen. However, I had to decline their kind offer as Grindlays arranged with Hatton National Bank to take over my account and its then Head, Mr. Dharmarajah, offered me the same generous terms extended to me by Grindlays. At Hatton National I dealt with L. S. D. “Bill” Peiris, a very sensible and fair-minded banker, with whom I enjoyed an excellent business relationship.
At that time most banks employed a cumbersome system to lend funds against export orders. This did not suit my operational style and I proposed to the bank a different system which also provided adequate protection to the bank, in the case of non-performance on my part. I gave Bill Peiris a weekly statement of confirmed orders with the corresponding funding requirements and that was accepted by him.
However, whilst I diligently honoured all my commitments to the bank, I had serious disagreements with one executive, the late Gaston Gunawardene, who was in actual fact an administrator and not a banker. His criticism of and intrusion into my operations were so frequent and vexing that I finally moved out of Hatton National, despite Dharmarajah’s appeals for me to stay on. I had to explain to him that I found it impossible to work with Gunawardene.
This depressing reliance on institutional funding for one’s operations taught me another useful lesson, very early in my life as a single entrepreneur – to build a strong cash base which would minimize dependence on loan and overdraft assistance which, even at their most beneficial, are still exploitative. I became frugal in my expenditure, saved as much as possible, and exercised great selectivity in my investments.
As a result of prudent cash and investment management, within a couple of decades I was able to build up substantial savings. The latter, invested in gilt-edged securities, provided me the stability to view funding assistance for my operations as a matter of choice and gave me the ability to fund any new business initiative from the revenue generated by my own operations.
Marriage and family
In 1964, I married Devika Jayawickrema, who came from a politically-prominent southern family. Her father, Major Montague Jayawickrema, was a proprietary planter and land-owner in the south. He had also been an active politician since 1936 and had represented the Weligama electorate on several occasions, between 1952 and 1987. He had been the Minister of Transport and Public Works from 1952-1956 and, later, from 1977-1987, the Minister of Public Administration, Home Affairs, and Plantation Industries.
Devika had been raised in a family environment in which the main preoccupations were politics and public service. As a result, the deeply-entrenched family cohesiveness and religiosity, which were both the defining features and overarching influences of my upbringing, were absent from her persona. Her outlook and worldview had been fashioned in a family ambience in which interpersonal relationships, attachments, and obligations were not as deep as in mine. These sharply-contradictory features in our respective personalities and value systems had their impact later on in our relationship.
At the time of my marriage I was living in a comfortable apartment on Turret Road and I planned to continue to live there. However, my new father-in-law was very insistent that I move into a fully-furnished home he had built for his daughter. In fact, he went to the extent of sending a few of my friends, including Bennet Medonza, to persuade me to move into this house, which was located between his house and that of Kishani, his second daughter. Finally I conceded to his appeals and moved in, but surprisingly found that instead of the fully-furnished home I was told to expect, it had only a refrigerator. I furnished it very satisfactorily on my own though.
Children arrive
Our eldest, Malik, was born on February 6, 1966, followed by Dilhan on May 29, 1968. Very early on I found out that Devika’s concept of parenting was quite different from mine, the latter fashioned within a strict Catholic upbringing, a composite of dedicated parental care on the one hand and the equally compelling response by the child on the other. The dictates of the religion that they were born to governed every aspect of my parents’ lives, even in the home. Other distractions, whether social or professional and however attractive or demanding, were not permitted to affect those responsibilities.
Thus, I evaluated Devika’s handling of our two children against the backdrop of my personal childhood experiences. During this period I was also deeply involved in my growing business, which, despite my commitment in both time and effort, was still beset by a number of operational problems. Given those circumstances, perhaps I expected a greater contribution from Devika in regard to the children, to offset any possible limitations on my part on account of the demands of my business. In short, I expected our two sons to be brought up in the same way I was raised in my parents’ home.
Eventually, my decision to end the relationship was made on the basis that the raising of my children, according to my perceptions of what was best for them, was not possible within the context of my marriage.
Separation
I purchased a comfortable and modern two-storeyed house at 61, Jawatte Road, soon after which I made a quick business trip to Europe. I was quite surprised when Devika followed me to London, possibly at the urging of her parents with advice to mend fences. However, regretfully, I advised her that my mind was made up and that she needed to chart her own course for the future.
On my return to Sri Lanka I refurbished the new home and soon settled into it, accompanied by the two children, together with their two carers, personal furniture, and the ever-faithful Alice, the best chef I have ever known apart from my mother. Thus began a completely new existence which, with very few changes, continues to this day. When Devika and I separated, Malik was four and Dilhan two.
I was both surprised and grateful that the many friends I made during my marriage continued to be my friends even afterwards. They extended to me the same love and affection as before and were also extremely helpful to me in various ways. They gave me much-needed moral support at a difficult time and still remain my close friends.
Whilst there were many such, without detracting from their caring in any way, I must make special mention of Nordeen and Shirin Esufally, who were by my side on every step of a difficult journey and were my dear, lifelong friends until their departure from this world. They opened their hearts to me, providing me exceptional love and care, sent me meals frequently, and gave me unrestricted access to their home and staff. Nordeen was my tennis partner for many years. Their children continue to be equally close to me to this day.
On conclusion of the divorce proceedings, I was granted custody of our two sons with access for the mother once a fortnight. From what I gathered, that too was not a satisfactory experience for them, but did not pursue it or try to change it, apprehensive of the impact it would have on them.
A few months later I was fortunate in being able to purchase a beautiful home in Gower Street, an old-fashioned house set in a sprawling garden with large trees and flowering plants. Both Malik and Dilhan loved its spaciousness; within, they had separate bedrooms with attached baths, toilets and a playroom and outside, the extensive shaded space where they were able to play various games with friends. Every weekend the house was full of my sons’ friends.
I recall that Malik preferred to read books in his room rather than play. Whilst playing cricket, Dilhan would display his resentment at being dismissed whilst batting, sometimes breaking his wicket, a demonstration of temperament he fortunately outgrew!
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 . )
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