Features
Sustainable economic development in Sri Lanka: Role of mass media in transforming public beliefs and attitudes
By Dr. A K M R Bandara
Head/Department of Agricultural Systems
Faculty of Agriculture
Rajarata University of Sri Lanka
Sri Lanka has been facing an economic crisis like never before. This crisis emerged with the COVID-19 pandemic mainly due to a drop in external earnings from tourism and foreign employment which are common to almost all countries in the region, including Bangladesh and India. However, those countries were able to recover due to the maintenance of external earnings reserves (buffer of dollars). Sri Lanka never gave much thought to reserving foreign earnings to face disasters, like COVID. The situation becomes acute with the incidence of repayment of interest and shares of foreign borrowings. Sri Lanka drew foreign loans substantially, after 2010, to develop highways, Mattala airport, and Nelum Pokuna which did not generate dollars to repay the loans. In this context, successive governments continued to borrow foreign loans to repay existing loans. Since the information on dollar inflows and outflows is not available to the public and the exchange rate is artificially controlled by the government, the dollar problem was not visible to the public until it has become a crisis.
There are lots of articles explaining the reasons for the economic problems, but no adequate information is available to resolve the problems. Factors affecting economic development have been discussed for over two centuries in the development literature in economics. Adam Smith, the father of economics, pointed out that low taxes, peace, and justices are the main factors that determine the economic development in 1776. However, evidence shows that economic development cannot be achieved by ensuring these three factors anymore, and it is more complicated when countries are struggling to achieve economic development that comprises of both quantitative and qualitative development. Quantitative development means an increase in quantity and value of the products and services of a country known as Gross Domestic Product (GDP) while qualitative development is the improvement of the quality of life of the people. When examining the development of many countries, including developed countries, economic development has been achieved mainly by changing the behaviour of the people. During the last 74 years, after independence, Sri Lanka has not given due attention to human aspects of economic development. Hence, the game of conflict instead of the game of cooperation, has grown in the country over the years and continues until now. The game of cooperation is necessary for economic development in which all individuals, politicians, and members of the society alike are searching for cooperative solutions for issues related to economic development.
Social transformation
In the case of social transformation, mass media can play a bigger role by increasing awareness. With the development of information and communication technology (ICT), passing information through media is very fast and effective. The media has already made a big impact on controlling corruption and changing political ideology from time to time through increasing awareness. Similarly, media can play a bigger role in economic development in the country. Today extensive awareness is going on highlighting who is wrong but not what should be done. Past is the past and it is not good to linger in the past. This article focuses on the role of mass media in economic development.
Performance (P) of a person depends on three factors: 1) knowledge (K), 2) skills (S) and 3) attitudes (A) known as KSA. Knowledge is to know things. It links with the brain. Skills are the ability to apply knowledge to do things and are linked with parts of the body because skills develop through doing things using hands, observing things through eyes, and hearing things through the ears. Attitudes are feelings, ideas, and thoughts and they link with the heart. There are two models explaining the relationship between performance and its determinants of knowledge, skills, and attitudes. One is the additive model (P= K+S+A) and another is the multiplicative model (P=K x S x A). The additive model is an old one and it says the performance of the person depends on three factors separately. For example, if the person has no skills, they will perform to some extent due to the other two factors but not to a great extent. Alternatively, the multiplicative model says that performance depends on three factors collectively. For example, if the person has no skills the performance is zero. In other words, performance and determinants work together and they are equally impotent to determine the performance of a person. This model has further improved giving more weight to the attitudes. Accordingly, the new performance model has the square of the attitudes (P = K x S X A2) illustrating that attitudes play a significant role person’s performance. Since economic development depends on the summation of individual performance, the highest priority should be given to the attitudinal changes in society. Mass media is the most effective tool in this regard. The following attitudinal changes are required for economic development.
Negative mindset
Society, especially public sector employees, has a negative mindset about privatization. This is mainly due to fear of losing jobs and benefits. It is necessary to highlight success stories in Sri Lanka and other countries through printed and electronic media. The best example is the privatization of the Department of Telecommunication in Sri Lanka. Before privatization people had to wait more than six months to get a connection even after payments. Similarly, repairing a breakdown took days and weeks. Now, the situation has completely changed. Also, employees are better off. Another negative attitude is setting up private entities. This is due to fear of competition. The principle is competition creates efficiency and efficiency leads to development. The best example is the banking sector. At the time of government monopoly with the presence of only the Bank of Ceylon and People’s Bank, customers were in the queue for a long time to deposit and withdraw money.
The situation completely changed with the establishment of the private banks.The society also has a negative attitude toward foreign direct investment. The most popular argument against foreign direct investments is the sale of national assets. Most countries, such as India, Malaysia, Thailand, and Singapore, have developed with foreign direct investments. Countries need foreign investments to develop their economies because domestic savings are inadequate for investments which generate returns, such as foreign earnings, employment, and technologies. Competition is now high for foreign investments as many countries are encouraging foreign direct investments by providing facilities such as low-rent land, and tax reliefs. India established free trade zones to attract foreign investments. The principal objective of foreign investment is obtaining foreign money. One of the reasons for the current foreign currency crisis is negative attitudes regarding foreign direct investments.
Need for attitudinal change
Changing the attitude of the employees in the government sector is urgently required for economic development. Both local and foreign investors complained about the long process of getting things done through government organizations. Studies found that Turkey needs 6 hours for start-ups; Thailand needs 7 days and Sri Lanka needs more than 6 months. Moreover, employee productivity is low in Sri Lanka. In the garment sector, three people require getting the work done by one person in Pakistan. It is required to inculcate among employees that taxpayers’ money is spent on their salaries. The situation is more crucial in Sri Lanka because over 80 percent of the tax comprises indirect tax paid by the public. Government sector employees are the servants of the public, not the masters or puppets of politicians. The public should respect those who provide better services, not the title of the position. In the recent past, the government introduced a luxury bus service to travel from the railway station to government offices to reduce traffic in Colombo city. It failed because of attitude problems. High-ranking officials wish to come to the office by vehicle and have somebody to take their bags to the office. The situation is the same or worst with politicians.
The expenditure pattern of the households also needs to be changed for economic development. In Sri Lanka, unnecessary expenditure is high compared to income whereby the domestic saving ratio is low. It is less than 25% of the DGP whereas in India the figure is 35%. Sri Lankans spend huge amounts of money on house construction and purchasing vehicles because they have social value. There is a slogan in India that is “be Indians, act Indians”. The life of the Indian people is simple. They mainly depend on things produced in India. Also, they do not spend money unnecessarily. University lecturers use motorcycles to travel short distances including travel to university. The use of bicycles is common in Japan though it produces vehicles in large quantities.
The government is planning to declare the year 2023 as the year of agriculture. The success of this programme hinges on a change in the attitudes of the participants of the agricultural value chain. At present, farmers do not plan production based on the market requirements while traders are reluctant to provide information to farmers on market requirements. Also, traders hide pricing information and they do not like to establish relationships with farmers. Hence, the agricultural value chain in Sri Lanka is fragmented and disorganised resulting in high transaction costs, severe price fluctuations, low farm income, high consumer price, poor quality, and high post-harvest losses. It is an accepted fact that a sustainable agricultural value chain is required for agricultural development. Donor-funded projects such as Agricultural Modernisation Project, Smallholder Agribusiness Partnership Project, and Climate Smart Agriculture are developing agricultural value chains, but success is in question due to the lack of business discipline. In business, the customer is the king. There is no business without customers. Customers need quality, convenient and safe food at an affordable price.
Price control
In Sri Lanka, the popular mechanism used to stabilise food prices is price control. It is now an outdated tool that creates artificial shortages in the market resulting from the inability to supply products. The government does not have buffer stocks and no adequate foreign currency to import any more to solve this issue. Hence, the measures should be made to increase production in the country rather than controlling the price. For instance, India introduced a three crops programme to control vegetable price hikes. Under this, the most popular short terms crops were selected. Another issue in the value chain is low prices at the harvest time causing hardship to the farmers who are mainly depending on farming income. The farmers think that the government should purchase the products at a reasonable price. This is also an old concept and is not given priority at present because of huge financial losses incurred by the Treasury. This issue can be solved by delayed selling from time to time rather than selling the entire stocks at harvest time. The government’s role is to provide financial and technical facilities to set up farm-level storage facilities. There is no country where guaranteed prices are stipulated for perishables and prices are determined by market-led production planning.
Attitudinal changes are required in the decision-making process. Evidenced-based decisions are lacking. A scientific decision-making process should be adopted. It includes five steps: 1) identification of the problem, 2) finding alternative solutions, 3) evaluation of each alternative 4) selection of the best alternative, and 5) implementation of the best alternative. Also, proactive decisions are required instead of reactive decisions which are taken after the problem happened and provide solutions to the effect of the problem rather than the root causes of the problem.
In Sri Lanka, it is necessary to raise awareness of four management functions: planning, organising, directing, and controlling. Planning includes the formulation of vision, mission, objectives, strategies, and activities. Organizing is the allocation of resources and staff to implement the plan. Directing means the provision of instructions necessary to undertake activities. Controlling includes monitoring the project activities in line with the plan. Most of the projects formulated, especially in agriculture, are limited to the planning function and monitoring is poor in many foreign funded projects. Many countries in the region have established, long-term continuous plans one after another that does not alter with the change of ruling party of the government. For example, India is implementing the 12th five-year plan after independence. Also, monitoring reports are submitted every year to the parliament. Educating all the stakeholders including the community is essential for the success of government projects such as home gardening. Past projects such as home gardening and tree planting fail due to poor management. The media should be alert in these areas.
Youth participation in agriculture
Youth participation in agriculture is poor and there is a need to motivate the youth to return to this vital sector. There are success stories here as well as abroad. The global trend now is the promotion of high-tech agriculture such as precision agriculture and digital agriculture. In these fields, youth entrepreneurs are urgently required.
All in all, the necessary condition for economic development is attitudinal changes in the society. The role of mass media is to raise the evidence-based awareness to facilitate the attitudinal changes. Priority should be given to making awareness of how developed countries such as Japan recovered from their crisis after the World War II by changing attitudes. Print media can provide opportunities to publish articles while electronic media can provide opportunities for discussions. At present, the media is engaged in such activities, but those efforts are not adequate to change the mindset of the Sri Lankan society.
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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