Features
UNP to present young leaderhip line-up shortly – Ranil
The tusker from 5th lane
by Maheen Senanayake
Continued from last week
What is your advice to someone who is interested in joining a party as old as the UNP, whose members have to take forward its history and carry the burdens of its past?
You join a party to see what they offer at the present. That is all. Nothing more. History is something else. This is history (pointing to the poster above him on the wall, the first election poster printed in Sri Lanka -in this case by the UNP for D.S. Senanayake).
I don’t know about that but today I feel that people join a party to see what they can get out of it?
That is also there. What I am saying is that there are people who are against us in one election and join us at the following election. History is not an issue.
It is rather like a man giving a bribe. These people don’t mind as long as the job gets done?
I am not talking about that. I am talking about people on political view points. There are for instance MPs who are against us in one election and with us in another.
In order to advance their electoral prospects!
Some do. Some don’t. For instance people supported us in 1977 because we represented change; not that they expected everything. Some elections you keep promising. That is why Lee Kwan Yu said we are auctioning non existent resources.
(A discussion on the UNPs 1977 landslide ensues and Wickremesinghe is told that the then United Front’s 1970 landslide, like the UNP’s 1977 success, resulted in tyrannies of absolute majorities. 1970 – 77 were periods of the worst hardships endured during the country’s contemporary history. Also the JVP, as a result of the way the 1971 insurrection was suppressed, had a hand in Mrs. Bandaranaike’s rout in 1977.)
Everyone agrees. But I would say not only because of political positions but also for economic reasons, etc. We were not sure of the two thirds (majority). About four or five days before the election, the last time I came to Colombo (I was staying in Biyagama) I met President Jayewardene and had a chat with him. He asked me ‘ What do you think?’ I said we will make it this time but will we get two thirds? He said ‘I am not sure Ranil, we are somewhere there but I hope we can get two thirds. Then he asked me ‘what do you think of Biyagama?’’ I said according to the last survey It looks as if I can win by a majority of about 1,500, so I think I will make it. (RW laughs reminiscing and says my majority was 6,500 and we had five sixth of the House. It came to a point where we were telling each other ‘ when someone said so and so had won’, “are you sure?”, because we had expected him to lose.)
If we look at the economy today what are your thoughts given that in any entity there is revenue and there is expenditure and everything happens in between. We have raised capital through a variety of debt instruments and payment continues to pile up as our own revenue does not increase. What would be the UNPs approach to managing the economy and steering it in a positive direction?
Look, in 2001 when I took over it (the picture) was negative. You remember we had problems with the LTTE. In 2015 debt was the biggest problem. Much bigger than we thought. So I spent most of my time looking at the larger picture. We worked with the IMF. We had to put down the VAT and in 2017 we had a primary budget surplus meaning that we could pay for all our expenditure except debt servicing. So we have to increase the surplus. The other problem was the Balance of Payments. We had a big gap there. That you couldn’t do overnight. For that we had to bring in investment and to bring in genuine Foreign Direct Investment we had to change macro economic policy here.
So it was only around 2017-2018 that people (investors) began to look at us. While they were looking came the 52 days (with two prime ministers in the country) and then the Easter bombings. But it (fundamentals) were there.
This government did not carry that on. A lot of the businessmen told them to cut taxes. Even in the first quarter of 2020 before Covid hit, us our performance was coming out (advancing). So again we have to do this and this time it will take longer. We must also have an economic framework that will attract people to come and invest here. To do that you need support. I told them to go to the IMF because they are the only people who may do this and a lot of countries have given them the authority to do so including China. But they said ‘No’ and said they will get it from elsewhere. Where can they get it from?
In 1977-78 and again in the 1990-91 period we see a new baseline for both the GDP and GDP growth for Sri Lanka. So much so that the people expect some magic from the UNP every time they are in government. However, the last time you were in power this was not the case. What do you think happened? What was missing? Was it talent? Young blood? What was it?
No, no, no. We handled the economy. Our first objective was getting a primary surplus. After Sir. John, no one has been able to achieve this. Not even President Jayewardene. We were able to stabilize the economy. The situation that prevailed between 2010 and 2015 was an artificial one.
In 1991 the JVP problems were over and there was a boost as we opened the country up. I did the negotiations with the IMF on that occasion. 2001 was a different situation getting it back to a positive. And if you ask the people or look at the number of vehicles that were coming in 2017-18 they were much better off than in 2010-2015.
If you have a primary budget surplus you have to be well off. Then what is it that you are looking at?
Debt too has to be serviced?
Within those five years, the middle class expanded in this country. We had put the debt on a sound footing. Money had to come in. We lost billions of dollars, 500 million on the East Container Terminal 400 million on the MCC and the other three LNG plants including one from China. We had also lost the money on the Trincomalee development. So we may have lost about four billion which would have given us a boost. And another billion would have come in with the start of the port city.
How would you describe the demonization of the MCC by the opposition and, since you appear to stand by it, what do you think went wrong?
Well it was a public offer and they turned it down. Now they are paying the consequences. Just like in 1970 When Mr. Dudley Senanayake wanted to build a highway to Katunayake, they all objected and they stopped it. It took another 20 years. There are so many things that we had started that they stopped. And they can’t show any other results.
What is your position on India, China, the USA and Europe in terms of interactions with them?
We will deal with everyone. We must know how to not align ourselves with anyone.
Are we still non-aligned?
Well we are not aligned with anyone, but I think we have lost the balance in our international relations. On the one hand we have antagonized India, Japan, the USA. We are fighting with the EU, Britain and the UK on the Human Rights issue. Now we are fighting with China on the fertilizer issue. As you know they have black listed the People’s Bank and we are fighting that. We deserve to go into the Guinness Book of Records because this is the only country in the world which has fought with all the big forces – anyone who matters.
What is your position on the global vaccination program? I am not referring to the roll out. I am asking you this from a fundamental perspective.
I am for vaccination. Unless you can be exempted medically I think from 12-years upwards, (12-18) you need parental consent). Remember vaccines are a way of controlling. They are not the solution. To get a drug out it can take five to 10 years. In this case instead of 50,000 guinea pigs you have now about three or four billion. But there has been so-called Vaccine Nationalism where the bigger countries had not given (vaccines to) the smaller ones in need. Delivery systems have also broken down and they – the G20, haven’t come out with an answer to that. It would have been good if China and the other countries – the QUAD – had worked together in the delivery and roll out of vaccines globally.
How do you see government information. I suspect that there is somewhat of a loss of confidence where this is concerned. As a citizen what is your view?
People have lost it (confidence). Also the government is not anxious in implementing freedom of information. We have the oversight committee which they want to scrap. In different ways they are trying to hinder progress on that front. Even in the case of central bank data, it is suspect.
What can parliament do to improve this situation and or at least bring in some form of due diligence?
We had it. In this parliament it is difficult. We have to now think of what the people want. Digitalization for instance will make information more accessible. Information will be more accessible if we go for a full digitalization programme.
When Arjuna Mahendran was selected as the Governor of the Central Bank, my first question was how could he champion the interests of the people of this country while he held dual citizenship – a question I raised with him when I interviewed him at the time. In light of the fact that the Central Bank at the time of your last government came under the purview of the Prime Minister, what are your thoughts on this?
I think as far as a country is concerned, we must get the best and the best systems. For instance the UK went through the difficult times with Mark Carney as their Central Banker. He was a Canadian. So there are instances when a country should get people down. Similarly Singapore went up when Dr Albert Winsemius (a Dutchman who was economic adviser to the Singapore government from 1961-84) was advisor. But my view is that elected members cannot have two citizenships, whether it is the president or members of parliament. Another is the Judiciary. The rest of it does not matter. Also dual citizenship is becoming a common thing. Another point is we have now removed restrictions on dual citizenship.
What would your advice be to youth in Sri Lanka within the framework of bringing in change to this country? What would your call to action be to those who will probably cast their first votes next year?
I don’t think that going to another country is the solution. Because those countries also are having economic problems during and post Covid. Also they will not welcome everyone. So going out is not an option. I can only think of giving them the same advice I gave myself in 1972. Stay, fight, change the system. But at the same time the political parties also have a duty to change themselves so that they respect the views of the young people.
As far as the UNP is concerned, we have opened up and at the moment we have about 10 new leaders who will be presented to the public soon. It will up to them to effect the change and hopefully by about next year you should see the change. We are working silently in changing the party to reflect the views of the young people.
In terms of campaign funding where are we headed and what is your position on capping campaign financing?
Well we have to take from those donors who give us (money). But it is not a satisfactory position. First we must cut down expensive elections. We must move towards a middle system. Parties will give (candidates) a percentage with restrictions on spending. Till 1977 we had restrictions on spending. Then President Jayewardene brought in the Proportional Representative (PR) system. Then it was not an individual candidate (but a list) and this law became irrelevant because now we were dealing with a list. The party then had to fund an entire campaign. After we took the law away we went and amended it to have the preferential system and that has led to a lot of corruption with people sometimes spending 50 million on a campaign. So I think that we should go back to a system of mixed (representation) with restricted spending. Media makes a lot of money (during elections) through advertising.
The Election Commission will have to control all this. And finally I am for state funding for political parties and election campaigns in the German style where you are responsible to the Elections Commission and the people. Anyone can go to courts against you. There are so many actions that have to be carried out including holding your branch elections annually. It is a very comprehensive system where even members have to disclose their income etc. because it is an exhaustive law. What I am saying is that we need not take the whole thing but we can certainly consider what is relevant to us and even add to it. And I must say it will require a year or two of discussion before we can do it. Then the parties have to act within democratic principles.
For instance there is now an inquiry in England against an MP where she had served cake to those in attendance (at an event) without declaring it. And this is in England where the laws are not so tough.
On the subject of Education, What do you – not as a politician but as ‘citizen’ Ranil Wickremesinghe feel or believes is the purpose of education?
One is the value system that is needed to be inculcated. Secondly you have to be prepared for the future for the country to develop economically and socially.
Do you believe in democracy? Do you think its relevant and do you think we are democratic and if not can we be democratic again?
We should be democratic. We shall be democratic. As Churchill said it’s the best of bad systems.
(End note by interviewer: Mr. Wickremesinghe is a knowledgeable man who carries with him years of experience. He was suave during the conversation and remained convinced on certain matters. I understood why he may have difficulty relinquishing power to another, who I think still does not exist, who can carry the mantle of party leader. President Jayewardene had successors. As for us citizens searching for turmeric, sugar, cooking gas, price hikes tantamount to hyperinflation and the possibility of a fuel shortage and consequently power cuts, we now understand The Time has Come. Cometh the man?)
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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