Features
New Fortress deal conflicts with policy on renewables
By Neville Ladduwahetty
A report in The Washington Post of 03 Nov. states: “More than 100 countries have signed the Global Methane Pledge, which requires a 30 percent cut in methane emissions by 2030, one of the Biden administration’s priorities for the COP26 climate summit in Glasgow, Scotland. The pledge’s signatories now represent nearly half of human-caused methane emissions …. the Biden administration also unveiled a sweeping set of domestic policies to cut emissions of methane from oil and gas operations across the United States”. Furthermore, the announcement that the US and EU are global partners in this venture signifies the seriousness of the situation, as well as the pledge.
Conveying Sri Lanka’s contribution towards this global effort, a report in the Daily News (Sri Lanka) also of 03 Nov. 2021, citing the comments made by President Gotabaya Rajapaksa, at COP26, states: “…the President added, Sri Lanka is deeply aware of the impacts of climate change. Our rich philosophical heritage, shaped by the Buddha’s teachings, places great value on environmental integrity. Therefore, the President said sustainability is at the heart of the national policy framework. ‘Sri Lanka’s updated Nationally Determined Contributions’ aims to reduce emissions towards achieving carbon neutrality by 2050”. During his speech he referred to increasing Renewable Energy to 70% by 2030 and specifically “no new coal power”.
What is attempted herein is to ascertain the current status of power generation capacities in respect of renewable and non-renewable sources, in order to establish the scope of what needs to be done to achieve the goals stated at the COP26 in Glasgow. The information presented herein is based on a Report titled “SRI LANKA Energy Sector Assessment, Strategy and Road Map”, dated December 2019, of the Asian Development Bank (ADB) and a Report of the Ceylon Electricity Board (CEB).
POLICY vs. DEMAND
The conclusions are based on data presented in the reports referred to above in respect of what proportion of power is currently produced by Renewables, such as hydro, solar and wind, and by non-renewables, such as fossil fuels and products of Petroleum.
According to the Executive Summary of the above report, “The peak demand is forecasted to cross 3,000 MW by 2020 and 4,800 MW by 2030”.
According to the CEB report, titled “Least Cost Long Term Generation Expansion Plan 2018 – 2037, submitted in May 2017, “off-peak demand to grow from the 1,100 (current level) to about 1,700 MW by 2037…”. Furthermore, table 3.3 states that by 2030 the Peak Demand is projected to be 4726 MW; a projection that closely agrees with the projection of 4800 MW in the ADB Report.
Given below are capacities of renewables and non-renewables that currently exist and in stages of development.
RENEWABLES:
HYDRO:
Large plants 1390 MW; Small plants 350 MW; Stages of Development 250 MW; SOLAR- Roof top target by 2020 is 200 MW; WIND-Developed 130 MW and under Development 130 MW (ADB Report).
TOTAL FROM RENEWABLES AS OF 2020 = 2450 MW.
NON-RENEWABLES:
COAL – NOROCHCHOLAI 900 MW; FOSSIL FUELS – KELANITISSA- 120 MW installed in 1980 &1981, 115 MW installed in 1997 and 165 MW in 2000; and KERAWALAPITIYA 310 MW.
TOTAL FROM NON – RENEWABLES, AS OF 2020 =1610 MW.
IF 120 MW IS RETIRED, BALANCE NON-RENEWABLES IN 2020 =1490 MW
ACHIEVING 2030 GOALS
If the goal to be achieved in 2030 is 70% renewables, it must follow that non-tenewables would be 30% of the demand. Thus, the demand projected for 2030 is 4800 MW, and target for tenewables would be 70% of 4800 MW, which is 3360 MW and for Non-Renewables the target would be 30% of 4800 MW which is 1440 MW.
The information presented above makes it clear that Sri Lanka already has the capacity to produce a minimum of 1490 MW of electricity from non-renewable sources. Thus, there no reason to expand existing capabilities, at least up to 2030. This means that expanding capacities at Kerawalapitiya from its present level of 310 MW by a further 700 MW is in conflict with the 30 % goal intended for non-renewables.
Another factor that needs to be recognised and appreciated is that since the current capacity of non-renewables is a minimum of 1490 MW, and if its contribution is to be 30% of the existing capabilities, the non-renewables are currently in a position to meet a demand of 1490/30%, which is 4966 MW; a capacity of 196 MW in excess of the projected demand of 4800 MW.
If the policy is for renewables to be 70% of the projected demand of 4800 MW by 2030, which is 3360 MW and the present capacity is only 2450 MW, there remains a need to meet the shortfall of 910 MW over a period of nine years. A significant portion of this shortfall could be met by doubling the hydro power capacity of Victoria, and the balance could be met by solar and wind over the next nine years.
In summary, a review of existing capacities for renewables is that there is a shortfall between projected demand and existing capacities. On the other hand, with regard to non-renewables, the current capacities of a minimum of 1490 MW are already in excess of the 30% of the projected demand of 4800 MW. Under the circumstances, expanding capacities at Kerawalapitiya by the addition of 700 MW to the existing 310 MW comes into conflict with the goals the President committed to in Glasgow at the COP26 summit on climate change.
EXPANDING NON-RENEWABLE CAPACITY
at KERAWALAPITIYA
In the context of the material presented above, there is absolutely no justification for the CEB to expand the capacities of non-renewables at Kerawalapitiya, and call for international bids to install a 350 MW plant, based on LNG. This is what prompted New Fortress Energy (NFE) to submit an unsolicited proposal to expand the existing capacity of 310 MW at Kerawalapitiya, by 700 MW, and convert all operations amounting to 1010 MW to LNG, together with a Floating Storage Regasification Unit (FSRU). Following the offer by NFE, a framework agreement was signed between NFE and the Government that has the backing of the US government. This Agreement requires Sri Lanka to sell 40% stake in the state owned West Coast Power as part of the deal.
The moment the news was out, there was a storm of protests. Petitions have been filed in the Supreme Court against the sale of the 40% stake in a national asset. Others, have objected to the deal, with NFE, on the grounds that the terms of sale of LNG binds Sri Lanka to commitments that are unacceptable. A report in The Morning of 04 Nov, quotes the Chairman of the Public Utilities Commission of Sri Lanka Janaka Ratnayake as having said that the “Yugadanavi is deal beneficial despite shady signing”. The deal is shady because the terms of the agreement prevent it from being disclosed without the consent of both parties, according to the Chairman of the CEB. Furthermore, the CEB has conveyed that it does not have grounds for objecting to the terms and the manner in which the deal was executed (The Morning, 04 Nov. 2021).
The fundamental issue is not whether the deal with NFE is “shady”, or its terms conflict with Sri Lanka’s national interests. The fundamental issue is that the deal is in conflict with the Policy of the Government to convert power generation to 70% Renewables by 2030. This Policy cannot coexist with the attempt to expand Non-Renewable power generation.
Furthermore, existing capacities meet the projected demand for Non-Renewable until 2030. Therefore, the deal to expand capacities of Non-Renewables, by whatever means, comes at the cost to the Policy of conversion to 70% Renewables by 2030; a commitment announced at the COP26 in Glasgow by the President. What is evident from the foregoing is that the decision to expand the capacities of Non-Renewables was taken without first ascertaining whether Sri Lanka needs to expand Non-Renewables, before rushing to do so by those responsible for power generation. This is, indeed, disappointing, to say the least.
CONCLUSION
The Policy of the Sri Lankan Government, as stated by the President at the COP26 climate change summit, in Glasgow, was to increase Renewable energy production to 70% by 2030 and no more coal. It must then follow that the Policy in respect of Non-Renewables should be limited to 30% of demand by 2030. According to the ADB Report cited above “The peak demand is forecasted to cross 3,000 MW by 2020 and 4,800 MW by 2030”. At 70% Renewables this translates into 3360 MW and 1440 MW of Non-Renewables.
Per the material presented above, the present capacity of Renewables is 2450 MW. This is short of the goal by 910 MW that should be reached by 2030. On the other hand, the above facts demonstrate that existing capacities of Non-Renewable, 1440 MW, have already reached the threshold of 30% required by Policy, because even if 120 MW at Kelanitissa are retired due to age, Sri Lanka would still be left with 1490 MW of power from Norochchalai (900 MW), Kerawalapitiya (310 MW) and Kelanitissa (280 MW).
Under the circumstances, the question arises as to how the CEB together with all the others associated with it, justified a call for international bids to set up a 350 MW LNG plant, at Kerawalapitiya, when absolutely no grounds existed, and at the cost of defeating the Policy Government Policy for 70% Renewables and ipso-facto 30% Non-Renewables by 2030. This action tempted New Fortress Energy to step in with an unsolicited offer to increase Non-Renewable production, at Kerawalapitiya, by an additional 700 MW to operate on LNG and to sweeten the pot, convert the existing 310 MW plant also into LNG along with a Floating Storage Regasification Unit to transfer the LNG all for a 40% stake in West Coast Power for $250 million.
This offer has precipitated serious objections from various quarters that range from Supreme Court petitions to dissent within the Cabinet and others threatening trade union action – all for nothing because under no circumstances could the New Fortress deal be justified since existing capacities in respect of Non-Renewables do not warrant expansion particularly because such an expansion would be in conflict with the objectives of the current Policy of 70% Renewables. The entire fiasco associated with the New Fortress deal could have been avoided had those responsible for power generation critically examined the fundamental question as to whether or not Sri Lanka should expand Non-Renewables at this time.
Since the fundamental question has not yet been posed, it is imperative even at this late stage for the President to ask this fundamental question – IF SRI LANKA’S COMMITMENT AT THE COP26 IS TO BE HONOURED, SHOULD SRI LANKA EXPAND NON-RENEWABLE CAPACITIES OR RENEWABLE CAPACITIES BETWEEN NOW AND 2030? If the answer to the question is that expansion should ONLY be limited to Renewables, it follows that the New Fortress deal is clearly NOT in Sri Lanka’s interest.
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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