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We can’t change the past’: Harsha
SJB MP Harsha de Silva, speaking about the Chinese investments in Lanka and its relation to the current economic and political crisis during an interview with India Today has said that the only thing left to do is to figure out a way out of the debt trap.
Speaking to India Today, the SJB MP said: “What is done is done. We can’t undo the projects now. What we can do now is to figure out a way to come out of the debt. We have to restructure it and we have to talk to the Chinese and come to a solution.”
For years together, Lanka has been borrowing heavily from other countries due to years of budget shortfalls and trade deficits. The country also saw several infrastructural projects that were built using foreign investments, failing to bring in any revenue. This pushed the country further into debt.
Many of these projects, like the Rajapaksa airport, Hambantota port, a conference hall, the Colombo Lotus tower are funded by China and Chinese businesses and at the same time, these projects now stand as reminders of mismanagement of funds.
The Belt and Road Initiative of the Chinese government has been criticised by several experts around the globe as an initiative that targets vulnerable countries and leads these nations into debt traps.
According to reports, 10 percent of the $51 billion external debt that Sri Lanka owns is to China and it is believed that the amount will be much higher if the loans given to state-owned firms and the Central Bank of Sri Lanka are also considered.
During the Lankan civil war, it was China who lended a helping hand, but this was not just a neighbour helping another neighbour in crisis but a well chalked out strategy to get a strategic upper hand in the Indian ocean region.
This is very clear from the Chinese investments in Hambantota, the home district of the Rajapaksas. The Hambantota sea port, envisaged as one of the world’s busiest east-west shipping lanes, only proved to be a disaster with very few takers. The port project was mired in controversy with allegations of corruption against the Rajapaksa family members. The Rajapaksa airport too failed to generate desired results.
In 2017, Hambantota port was given to a Chinese state-owned company on a 99-year lease as Sri Lankan government was struggling to repay the loans. A port city project being built on 665-acre land, with the aim of becoming a financial hub in the capital of Colombo, is also seen as one which might push the island nation further into debt trouble.
“Some middle ground where we can manage our debt repayment sustainably. We can’t change the past,” Silva said of the many infrastructural projects that failed to bring revenue.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
