17 October, 2019

Blog

An Untiring Effort To Throw Sri Lanka Again Into “Vipath Maga”

By Mangala Samaraweera

Mangala Samaraweera – Minister of Finance & Mass Media

1. Former President and Kurunegala District MP, Mahindra Rajapaksa who is responsible for ruining this country by allowing his family relatives and cronies to plunder the country’s economy and, his siblings, former defense secretary Gotabaya Rajapaksa who unleashed terror through the white van culture that isolated the country internationally now seem to be engaged in an untiring effort to throw the country again into “Vipath Maga”, the destructive path.

2. Mr. Gotabaya Rajapaksa who invented white van terror in Sri Lanka that attracted world attention has said recently that the rulers and the public officials should be free of corruption. Gotabhaya Rajapaksa who could be considered as the most corrupted and dangerous public officer ever appointed in this country, is now talking like a child after rebirth. Several cases being heard in Courts and investigated by Police against him at the moment:

  • The corrupt MIG deal
  • Plundering public money to construct memorial museums and name them after his parents
  • Unleashing assault on journalists and enforced disappearance some of them
  • Instigating corruption and terror and Maintaining illegal armory thereby depriving the Government of its due income, are some of them.

3. Instead of proving himself his innocence before Courts against such charges that have already been leveled against him, he has retained leading lawyers to obtain anticipatory bail orders against those charges. Not only such charges against him are being investigated, charges of the kind are being investigated against the other members of the Rajapaksa family as well. It is crystal clear that Rajapaksa siblings have been endeavouring to grab ruling power once again by misleading the public because they are impatient to put these legal cases against them under carpet and exploit the national resources once again, and it is not for their special love for the country.

4. Not only that, they have been envious of this Government as we were able to strengthen the local economy despite many challenges after 2015 and, they have also been fabricating statistics and distorting the truth in an attempt to mislead the public.

5. Even in the face of such challenges, the government has been able to strengthen the economy of the country and its administration better than in the past. When there was an economic development program supported by the private investment in the 1990s, the export earnings were 30% the Gross Domestic Product. But they never say that our government was compelled to take over an economy with a dwindling export income of 12% in 2014. Not only that, they do not say that our government took over a debt-ridden economy.

6. Kurunegala District MP, Mahinda Rajapaksa has charged the Unity Government has to make the highest recorded debt repayment of US$ 4.2 billion in 2019 in the history due to the debt crisis created by the Yahapalana government. The following fact file would help Mr. Mahinda Rajapaksa to restore his already lost memory and regain his mindfulness.

7. After Independence in 1948, the highest amount of foreign debt has to be paid in 2018. The total foreign debt to be paid this year is US$ 2,845 million and of which US$ 1,789 million has to be paid for foreign debts which were borrowed before the year 2015. Only an installment of US$ 1,056 to be paid for the foreign loans borrowed after 2015. Accordingly, 63% debt installments to be paid this year are repayments of debts that had been borrowed during Mr. Rajapaksa’s tenure as finance minister. It was at the level of 75% in 2017.

8. This crisis will further worsen next year. US$ 4,285 million have to be paid in 2019 and of which UD$3,315 or 77% of the repayment are for the debt obtained during the tenure of the Rajapaksa regime.

9. Another US$3,768 million will have to be paid as loan installments and the interest in 2020 and of which 77% or US$2,905 million is the debts that were borrowed before 2015. Only US$ 863 million have to be paid for the debt that was borrowed after 2015. In 2021, 83% of the foreign debt installments will have to be paid to repay the debt taken before 2015. In addition, even in 2030, 73% of the repayments will go to pay the debt that were obtained during Rajapaksa regime for the waste, fraud and corruption committed by the oligarchies of the Rajapaksas.

10. The loan installment to be paid in 2019 includes a US$1,000 million which was obtained on January 6th, 2014 at 6% interest to be paid within five years and, a US$500 million obtained on April 7th, 2014 at 5.1% interest to be paid within five years. As these two loans that amounts to US$1,500 million that have been obtained at commercial rates will be matured in 2019 and the entire loan should be repaid in bulk with full interest at one stretch. The Mahinda Rajapaksa regime obtained these loans in a hurry in 2014, not for the development work but for the election where they lured unsuspected voters thereby distributing cheap items such as “Sil Redi”.

11. After this Government was voted to power, it has obtained foreign debts of US$ 12 billion during the last three years and, 6 billion out of which was from International donor Agencies and under bilateral agreements at concessionary interest rates. They have been spent for various projects. These loans were taken neither under commercial basis nor for consumer purposes as Mr. Mahinda Rajapaksa attempts to interpret.

12. 48% out of the total foreign debt obtained after 2015 have been used to repay the debts that were barrowed by the Rajapaksa regime. Although this government was destined to shoulder such a heavy debt burden in 2015, it has been able to take steps to implement development activities at a fast pace than that of the Rajapaksa regime thereby assuring more direct benefits to the people.

13. The allocations made by this government for education, health and housing are the best proof to such claims.

(Allocations in Rupees billions)

2014 2015 2016 2017
Education 190 225 238 257
Health 138 178 186 197
housing 173 238 259 274

Although 1.8% of the GDP was spent for education in 2014, it was gradually increased up to 1.9% in 2017. It will further be increased up to 6% in the next few years.  The allocation for health will be increased up to 3.5% of GDP in the next few years. The allocations for public welfare have been increased to 265 billion rupees in 2017 from 165 billion rupees in 2014. It is an increase from 1.6% to 2% of GDP.

14. Soon after this Government came to power, it pledged the public servants to increase their salaries by 10,000 rupees because their salary was not increased by at least one cent since 2006.This Rs.10, 000.00 increment has been transformed according to 1:4 scale thereby the salary of all public servants will be increased by 107% in 2020 to that of their salaries in 2014.

15. Comparing to the prices of powdered milk, domestic gas and fuel in 2014, they are still at a lower level and, when public servants’ salary is inceased by 107% in 2020, I reiterate that it will help people to increase their income and maintain the cost of living at a low level. Althoug prices of diesel, petrol and kerosenewere increased recently, people do not forget that even the current prices of such items are lower than that of the prieces prevailedduring Rajapaksa regime.

16. The economy during the previous government, handled by their cronies and henchmen didn’t have any proper system in place to implement the economic development in a manner that would bring direct benefits to the people. The Rajapaksa siblings who ruled this country under such a background have been attempting to regain power by throwing the people into “Vipath Maga” the destructive path. Therefore, we urge the people to defeat such attempts and rally round the Government’s agenda to build a strong economy and a rich country by the year 2025.

Print Friendly, PDF & Email

Latest comments

  • 8
    7

    Mangala, the self confessed serial liar at it again…………

    • 4
      7

      Who are you? Answer: A social media manipulator deliberatly spreading lies and miss information. What has Mangala lied about? Name one lie he as uttered in the above article?

      • 4
        2

        Pala, in the above article Mr. Finance minister says that the previous government took 1000s of millions US$ debt to provide SilRedhi. That is untrue, why should they do that those items are payed in SLRs..twisting the truth to unrecognizable levels is lying. He also does not say a word about the current government printing money and thus depreciating the SLR, that too is hiding the plain truth. Furthermore he says that public servant salaries will be increased 107% by 2020, that is not true for all the public servants, and during the five years this government has been in power the SLR has depreciated terribly, and taxes have increased dramatically so the salary increases has very little or no effect.
        Mr. Finance minister is a smart fellow, unfortunately he wastes his intellect on constructing fairy tales (pun not intended!)

        • 0
          0

          Ha Ha nice try to deceive yet again. Such as Sil Redi my friend does not mean the entire sum was spent on Sil Redi. When the Rs10,000 was given this had a knock on effect on all the other allowances and contributions to pensions and ETF also going up which is how this amount has been calculated. You are just looking at some ridiculous angle to sling mud and confuse the readers. Printing money is a crime? How much did your friend print when he was in power? Are you trying to tell me that he never printed money. Your friend also bought Greek bonds when the whole world knew they were worth less. He then entered into a one sided hedging deal when screwed this country for even more money. He also tried to hide his borrowings by getting the state banks to take the loans on their books thus making them teeter on the verge of collapse. Not to mention the wide spread practice of his cronies bagering the same banks and taking huge loans and defaulting on them forcing the banks to take a severe beating. The list goes on and on. The more you dig the more you will find. I suppose the worlds greatest heist according to you lot will now be trotted out in rebuttal as if it has not been beaten up enough already.

  • 9
    8

    What I cannot understand is how can anyone living in SL vote for any Rajapakse again to bring them to power. We all saw how they acted when they were in power. There were suite cases that was sent every month from Sea Street and Pettah by the Mudalalis as protection money. We saw the white vans, attacks on media, rapes, murders etc etc. We saw the way they took “paga” from every project. So how can any one vote them in again?

    • 3
      3

      Buddhist:
      What is becoming increasingly obvious is not that the popularity of the Rajapaksas is soaring but that of the present regime is plummeting . The real tragedy is that the current lot appear to be in cahoots with their predecessors and if the Rajapaksas come back, the Yahapalanaya lot will not suffer. They might have to take a marginal drop in their current living standards but it won’t be a calamity for them as it will for every other Sri Lankan.

      • 1
        5

        Emil , and in other words , Racism is soaring in the name of
        Nationalism , Developments get limited to new meaning of
        roads and high-rise buildings that mush of the country does
        not need but Rajapaksas need ! Politics for both Rajapaksas
        and YHAPALANAYA is more of an EMPLOYMENT OPPORTUNITY
        than a GOVERNANCE ! Ranil is happy to be on any seat as long as
        he can go on world tours ! They all got some die-hard supporters
        proud of being in their respective colours for generations . But
        Rajapaksas prove time and again that Sinhala-Buddhist slogan
        will travel a comfortable distance to break traditions ! Two major
        parties have now become Three Major parties at the cost of
        traditions ! Racism was the force behind !

      • 2
        0

        Emil Aiiya,

        Wonder where Calamity Jane is?.
        Has she gone back to London?

  • 6
    2

    He called Ranil Wickremesinghe Mr Bean when he was with
    Rajapaksas. Raneelta Behe, he said. Then he joined Sirisena
    and accused Rajapaksa of amassing 17 million dollars in
    foreign bank accounts. What happened to those monies? He
    complained about a coup attempt after the presidential
    election. What happened?

    Mangala Samaraweera, the Kurundu Polu King, is a serial
    liar. Like the small child who has been robbed of his popsicle,
    he is now crying.

  • 1
    1

    This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

  • 1
    1

    The current lot came to power with the support of the Venerable Maduluawe Sobhitha Thero. A gem of a monk. It is because of their promise to him to abolish the executive presidency that a coalition government was formed. It is due to this endavour that this structure is still being adhered to in spite of the fact that some of the SLFP were actively working to sabotage this government from within. Even the president now has got greedy and power hungry just as predicted and abandoned the noble promises he made. But one does not cut ones nose to spite ones face. It is not easy to bring about change when the entire government aperatus is full of Rajapakshe accolytes and some of the SLFP ministers also want to prevent change from happening. Look at the courts and the judges who keep postponing the cases filed against the Rajapkshes. These are not easy problems to solve. There is such a thing as due process. One cannot just go firing judges. If you do such a thing then the precedent is set for the next scoundrel to engage in the same tactic thus making the courts a mere spectacle. The right answer to the current situation is not to elect the scoundrel who created the white van culture and murder for money culture. But to persevere and continue to push the current lot to do the right thing. They are not half as bad as the ones they replaced. It is a matter of the lesser of two evils. Also, beware of the social media mafia working overtime on these sites.

  • 0
    2

    Here is some sensational news boys,
    Mangy sent Ferdinadz to call Gota to arrange a meeting with him.
    Reason, Mangy wanted to join Mahinda at the 2015 Yahapalana Election.
    Gota refused saying he does not do that sort of business,
    But agreed to pass the message to Mahinda, as a matter of courtesy on the insistence of Fernandz.
    Mangi has then submitted his list of demands to join Mahinda.
    Mangi wanted the Ministry of Justice and several other Ministries under his control.
    Wonder whether Mangi will tell the Colombo Media what Mahind’as reply was.

Leave A Comment

Comments should not exceed 300 words. Embedding external links and writing in capital letters are discouraged. Commenting is automatically shut off on articles after 10 days and approval may take up to 24 hours. Please read our Comments Policy for further details. Your email address will not be published.