19 September, 2020

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Economic Sterility Of The UNFGG

By Sumanasiri Liyanage

Sumanasiri Liyanage

Sumanasiri Liyanage

In good old days, debates in the Sri Lankan Parliament were rich not with nonsense, banality and filth but with substantive arguments, creative vision and humor. Also it is interesting to note that the debates were dominated by the left leaders. Speaking at the Budget debate in the late 1960s, the General Secretary of the Communist Party of Sri Lanka, Pieter Keuneman, said that this budget and the policies of the UNP government had demonstrated clearly its “economic sterility, political impotency and administrative incapacity”. In this column, I argue focusing more on the economic management that this description is more valid in portraying the policies and the performance of the government of the January 8 coalition than that of the UNP government of Prime Minister, Dudley Senanayake. It is interesting to note that Comrade Pieter Keuneman did not talk about corrupt practices of the Dudley Senanayake’s government as widespread corruption was not a phenomenon in pre 1977 UNP governments. Had a day time robbery like what had happened recently at the Central Bank of Sri Lanka occurred under his rule Dudley Senanayake would have resigned immediately from the post of PM. Of course, it is hard to expect that kind of moral behavior from the politicians in this neo-liberal phase.

Ravi and RanilLet me come to my main argument. The statements by the spokesperson of the January 8 coalition who were later responsible for economic management had demonstrated without any doubt that they were clueless on the issues and had not possessed a clear strategy for economic development of the country. Prior to the Presidential election, I wrote in this column about this sterility of development thinking in Maitripala Sirisena’s election program. This was what I wrote: “Champika Ranawaka has a formula and Candidate Sirisena has just copied it in verbatim in his manifesto. This formula has a close affinity with Narendra Modi’s program. Whether the economists of Modi government believes it or not, Modi gave a lot of publicity to the idea that bringing black money deposited in foreign banks would give substantial impetus to the economy.” Candidate Sirisena proposes: “By stopping mega corruption and wastage alone I will act to provide the country with development ten times that of the last six years and provide relief to the people”. Anybody who knows ABC of economics or one with just common sense may not accept this theory even though one assumes that corruption and waste are substantial. Modiconomics is not working in India, so will be the Sirisenomics.’ The UNP spokesperson, Eran Wickramathne also reiterated the same logic of finding necessary capital for development by eliminating waste and corruption.

Prior to the election, besides myself, R.M.B Senanayake and Hema Senanayake had also pinpointed this shallow idea of developing country by transferring money reclaimed from the people who were engaged in corrupt practices to development projects. It is not necessary to tell time and again, the money that is recovered (which is a stock) does not provide a continuous flow of capital needed for development. In the pre-election period, January 8 coalition supporters tried to inflate the amount money that could be reclaimed with the support of the international banking system. However, in the last six months, the UNP government failed to reclaim a single penny from this allegedly stolen money. Hence, it is not a surprise to see that the whole idea of economic development collapsed as a result of over emphasized faith on this shallow idea.

Since January 8, the country has witnessed the sterility of this “strategy” as the so-called rainbow coalition had to depend more and more taking money even to run a day to day business of the government.

As I discussed in this column many a time, the UPFA government had simultaneously adopted two strategies of economic development. One I called ‘Jayasundara strategy’ and the other “Basil Rajapaksa strategy’. These two were combined into a single strategy by the Secretary to the treasury. In my writings both in Sinhala and English, I have made an attempt to reflect critically on these two strategies and shown their inherent drawbacks. Overall, as I mentioned, UPFA strategy was a result of mixing ‘developmentalist state model’ with neoliberalism. Hence, it failed produce expected results. On the other hand, the past six months, we have witnessed under the UNP regime a ‘strategyless situation’. Its entire policy package was based on ‘tactics’, tactics of winning elections. Eran Wickramaratne, in one of the TV interviews, accepted that the UNP government had not even thought about economic development as it concentrated on giving some benefits to people.

So the United National Party that placed so much faith on using wasted money on development had later turned into strategy less economic management. A movement from shallow strategy to strategy-less policies. The outcome of this miserable situation was a decline of growth rate, rise in unemployment, falling living standards and half-done development projects.

The microcosm that funnily revealed this pathetic situation is the road that I used every day. It is in Kadirana and comes under Katana Pradeshiya Sabha. It was a gravel road that cannot be used in rainy season. And the people who use this road made many requests to repair it. Part of the road was redone placing tar just before the January 8 election. It was not a good job, a job hurriedly done. However, all worked stopped after the election. We thought they might restart once the election fever subsided. Nothing happened. So the outcome, half tarred road with lots of bumps (UPFA economic program) and the second half with muddy holes (UNP economic program). When I was asked by one of the newspaper journalist how I see the change that occurred in January 8. I cited this situation of the road that I use every day. Does the UNP led coalition now have an economic strategy? Not yet clear. Champika Ranawaka on behalf of the United National Front for Good Governance has recently informed that they would in next 5 years adopt ‘social market economy’. I think that Champika Ranawaka borrowed this idea from Dr Harsha de Silva although he put it as its own creation. Social market economy was the right wing version of social democracy. It produced some positive results during ‘late capitalism’ especially in Germany. However, it is now an abandoned strategy and in the context of neoliberal globalization, it does not have practical relevance.

Pieter Keuneman’s phrase that the UNP’s vision and policies on economy is sterile and senile is also valid for today. It is the dominant party in the January coalition. It does not have an economic strategy that could take the country out of the economic mess. It will just follow the neoliberal agenda designed by the Washington consensus. The same measures that Germany has imposed on Greece. Chinese military strategist cum philosopher Sun Tzu wrote “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat”.

*The writer is the Dean, Faculty of Management and Finance, SANASA Campus (personal capacity) – e-mail: sumane_l@yahoo.com

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  • 6
    10

    This exposes Ranil’s claim to be an economic seer.

    • 3
      8

      Good Article that raises important issues of Economic Rights and Justice that is often forgotten because of the corrupt politics that take up so much public space and debate in Sri Lanka today.

      Let’s be clear Sumane, that Ranil Wickramasinghe is only the lesser of two Evils in a landscape of corrupt politics. He is a virtual dictator of the UNP who has lost countless elections.
      Ranil is merely a better option than Jarapassa. This is a sad reflection of how low and bankrupt politics and political culture in Sri Lanka is today. Sri Lanka voters have to chose between two moribund political parties that are virtual dictatorships – SLFP and UNP and their leaders.

      The insider trader Arjuna Mahendran scandal at the Central bank is an indication that Ranil Wickramasinghe is not a real or honest leader and not a solution to the crisis of governance in Sri Lanka. He is just a little better than the corrupt and criminal Maindha Jarapassa.

      Civil Society will need to keep vigilant and force Ranil and UNFGG to get rid of Mahendran who is issuing govt. bonds and piling on the debt, just as Nivard Cabraal did, and develop substantive Economic policies that reduced economic INEQUALITY and the gap between the corrupt super rich and the rest.

      • 15
        4

        I would like to ask why are President Sirisena and Ranil Wickramasinghe wasting the tax money of Sri Lanka citizens for Mahinda Jarapassa’s incredible security demands?

        Does Madam Chandrika Bandaraniyake have such incredible security and on what basis is Mahinda Jarapassa’s who is provided with 105 police officers, 104 Army officials, a bullet proof car, a three Defender vehicles, three Land Cruiser vehicles, two double cabs, four trucks, two buses, two double cabs, 10 other vehicles and fuel for these vehicles, justified.

        Is there no one with a brain in the current Sirisena-WIckramsinghe government who can make an assessment of adequate security for the corrupt criminal Mahinda Jarapassa?

        TO cap it all the JVP has gone to court against this amount of security for a greedy corrupt individua not on the basis that it is a massive waster of State funds abd public monies but to complain that other candidate of the election do not have access to such incredible security?!

        • 0
          0

          Do you want any one to blame M3 and Ranil for lapse of security for this idiot. He is not safe from his own kith an kin these days.

      • 2
        6

        why compare evils? there are non-evils contesting. it is not a contest between two parties. Both the JVP and Frontline Socialist Party contest all 22 districts.

        • 2
          0

          Sumanasiri,

          True JVP is saying the right things and have fielded the best educated lot to contest the elections.

          But what kind of policy do they have with regards to improving the economy.

          Only a short while ago people like Weerawansa and the national disgrace Vasudeva postured themselves as leftists. They are now well and truly in the Ali Baba camp.

          In the unlikely event that JVP win the elections what kind of government will they have. We have seen what occurred in Buddhist Cambodia when the communist took power. Will they also engage in rice production economics. I wish JVP will spell out what they intend doing if they come to power.

        • 0
          0

          On the Greek Economic Crisis and the politics of capital please reads the brilliant critique Slavo Zizec’s article in the New Statesman. http://www.newstatesman.com/world-affairs/2015/07/slavoj-i-ek-greece-courage-hopelessness

          Suggest that CT publish it if possible. Politics as Theatre of the Absurd etc..
          Slavoj Žižek on Greece: the courage of hopelessness

  • 6
    3

    You are spot on.

  • 7
    4

    Dear Sumanasiri Liyanage,

    Your have captioned the article as “Economic Sterility Of The UNFGG”, and as such you are critical of UNP Economic policies since Dudley Senanayake period. At the same time my inference from your views, is that you are advocating for the UPFA to form a Government carry on their economic policies despite that is similar to half tarred road with lots of bumps, and continue plundering of public funds and misdirection of financial system as they have been doing for last 10 years. If they cannot repair a road that does not yield a cent as commission for the ruling party members for ten years, how can a transient government that targeted 100 day program mainly to give relieve for people suffering for a decade. If there is a bump on the road, your car is travelling, get down the car and try see the suffering people, difference after the 180 days. You never mentioned about the misdeeds of the era of UPFA rule but a Day Light Robbery of Central Bank, – for me that insider trading was necessary for the “Bumps” laid by the 180 day rowdy opposition against proper relieve reaching the people/ that was a mechanism for cash flow through internal rotation of funds. That is why Supreme Court dismissed that petition challenging the Insider Trading through BANK of CEYLON FINANCING.

    • 9
      2

      The writer has economic senility!!

  • 10
    1

    The UNFGG yet to release its Manifesto, for the next five years, until then comments with preconceived ideas have to be refrained for the fairness shake, likewise comparing 180 day minority Government with a decade old Govenment’s rule, I am sorry misrule!

  • 3
    6

    Congratulations to Sumanasiri Liyanage. He has said
    something that borders on macro economics in layman’s
    terms. very easily understandable by everyone.

    He is to the point. If one looks dispassionately of
    the period when the minority UNP Government took over,
    on the political front PM Wickremesinghe was more keen
    on constitutional amendments to bolster his position.On
    the economic front it was all done with eyes on the
    ballot box.

    Other than chatter boxes and those who excel in rhetoric,
    there is not ONE rpt ONE practical economic thinker in
    the entire Government. One is trying to impress the
    other. That is how it goes.

  • 2
    6

    Dear Professor. Liyanage

    Thank you for explaining it clearly. You forgot to mention the failed attempt to raise funds through treasury bills and the increase in defecit from the interim budget.

    Time for strategies.

  • 6
    4

    THERE WERE POLICIES AND MOTIONS THAT WERE UNABLE TO IMPOSE DURING THE PAST SIX MONTHS BY THE MINORITY GOVERNMENT AND ALSO THERE WAS A TOTAL BLOCKADE ,EXPERIENCED BY THE SIRISENA GOVERNMENT FROM THE OPPOSITIONS WERE UNFORTUNATE.

    IF EVERY POLITICIAN SPOKE FOR THE FUTURE BETTERMENT AND PROSPERITY OF THE COUNTRY THEN WE CAN SEE A FUTURE FOR SRILANKA.
    POWER STRUGGLE IS MORE IMPORTANT THAN THE FUTURE OF THE COUNTRY IS DISGRACEFUL.

    IDEAS FOR A SUCCESSFULL GOVERNMENT NEEDED TO BE COPIED FROM PAST SUCCESSES TRIED AND TESTED THROUGH OUT THE WORLD.

    • 8
      4

      WELL WELL WELL
      AS I PUT IT INDIRECTLY IN MY COMMENT ABOVE ANYONE CAN SMELL THE RAT FROM THIS ARTICLE . ITS LIKE TRYING TO PUBLISH A FAKE UNHRC REPORT JUST BEFORE THE ELECTION IN AUGUST.

      THE READERS ARE NOT SO GULLIBLE MR SUMANASIRI LIYANAGE.

      I AM NOT AN ECONOMIST OR A JOURNALIST , I AM JUST A VOTER WHO WANTS GOODNESS FOR OUR FUTURE GENARATIONS. PLEASE DO NOT MIS DIRECT THE VOTERS WITH YOUR ARTICLE.

      I CAN SPOT THE MISCHIEVOUSNESS OF THIS WRITE UP.
      TEN YEARS OF DESTRUCTION WAS NOT ENOUGH . THE GOOD GOVERNANCE HAS MADE THAT MISTAKE CB BONDSCAM. I AM SURE THAT WILL BE INVESTIGATED BY THE NEW GOVERMENT AFTER THE ELECTION WHAT MORE IS NEEDED . THE SCAMS OF TEN YEARS ARE COMING OUT THICK AND FAST.

      THIS PERSON HAS QUICKLY PUT THUMBS DOWN FOR MY COMMENT NO SOONER I SENT TO CT.

      I AM GLAD TWO OTHER COMMENTS. ABOVE SPEAKS FOR ITSELF OF THIS MACRO ECONOMISTS ONE SIDED WRITE UP.

      SORRY I HAVE TO USE CAPS IN MY COMMENTS.

  • 6
    6

    You sound like a Vedamahathaya because to the rest of us it is clear that the Supreme court never conducted an investigation into the Central Bank Bond fraud. The supreme court questioned no body. They examined no documents. That was a fundamental rights application which was dismissed on another basis.The same way that Sarath Silva dismissed MR’s helping Hambantota case.

    Besides how can the Supreme Court hear such a case when the know all lawyer Ranil W. has declared that only he, Mahendran and the owner of perpetual understand Bonds! Nor did the three little lawyers from the UNP understand them. All we can do is to ask for directions from Ranil !
    He is the only one who knows it all. I sometimes wonder how such a man can carry so much of knowledge in his small head !

  • 6
    4

    There is no difference between the UNP and the previous government They are both predatory governments encouraging a predatory society that is run on selling the country. Unfortunately there is nothing to sell now. The country and its people have been sold to slavery.

  • 8
    5

    It is said at the end of the Article that: “The writer is the Dean, Faculty of Management and Finance, SANASA Campus (personal capacity)”. Good? bad? ugly? only the Almighty knows!

    I checked in the CT Archives to see whether he had written any Articles concerning the economic state of Sri Lanka, particularly the massive Robberies perpetrated by the Medamulana Gang, and how they impacted the economy of the Country. There were none. Yet he dwells on the insider trading that happened under RW through his protege Mahendran and rubbishes the achievements of the present Government.

    Sumanasiri Liyanage (when is he going to be a Doctor?) does not accept that over a period of ten years Robber Baron Mahinda Rajapaksa destroyed the existing machinery necessary for civilized and effective political and economic governance in the country and that it takes time to put the essential machinery back in place. He does not utter one word condemning the massive sabotage in Parliament and the country at large by the Medamulana Gang to derail the good governance project. These two omissions clearly expose his intellectual dishonesty.

    He has not commended President Maithripala for devoting his attention to restoring the Rule of Law – the fountain from where every good result in a democratic society including economic development can spring.

    In that context one cannot help but believe, like another commentor Vetmahadeva, that Sumanasiri Liyanage is only a mere MaRa shill and propagandist, “advocating for the UPFA to form a Government to carry on their economic policies” – to plunder the country and once more stashing the Family Coffers with the loot – only permanently the next time.

    Let me say it out loud and clear for the record, and what Sumanasiri Liyanage wants to hide. It takes time to bring back good governance (including prosecuting and punishing the wrongdoers of the past government) that has been destroyed over a period of 10 years. Despite the bond hickup, that is what the government is trying to do. That task is the sine qua non of economic development, what every fool including Sumanasiri Liyanage is clamouring for. There cannot be economic development without good governance. Let’s give the RW/Maithripala team time to achieve that. Let’s give them a mandate for five years at the next elections. Let’s cast our votes for them.

    By the way the correct word is “impotence”, not “impotency”, for not coming up.

    • 3
      9

      @Navin

      Since you are a True Believer, Can you tell us what Yahapalanaya of Ranil and MS has actually delivered to the country so far ?

      1) Central Bank Fraud of Billions

      2) Now upcoming Shell-Litro gas scandal (soon to be hushed up)

      3) FCID – The toy of the PM, shared sometimes with Ravi Karunanayake. PM decides who to Investigate and who should Not Be Investigated.

      4) Supreme Court apparently follows the dictates of RW and not of the Law

      5) Press Freedom – RW threatens to bring paliamentary privilege if anyone reports about Bond Scam

      6) Parliament shut down before anything can be tabled and debated.

      Face it.. Yahapalana same as Mahinda Chinthana in terms of corruption.

      • 4
        5

        Maalumiris,

        So I take it that you prefer the malodorous ancien regime to the Yahapalanaya. If you say ‘yes’, we may shake and go our different ways. If you can show me a practical alternative I am willing to listen. If you say ‘no’ with conviction I will provide a comprehensive reply.

        By the way as a curry I prefer the longish, light green mildly hot n sweet variety of maalumiris. What variety are you? Caveat emptor is the rule when I buy them, because, like the writer of this Article, some varieties of maalumiris can be extremely deceptive in their appearance.

  • 1
    6

    Well, that’s good and all – that UNP capitalistic trends are more ineffectual than the UPFA capitalistic trends.

    But what about this revolutionary idea called “Social Market Economy.”
    Dr. Liyanage, can you spell it out ASAP before Aug 17, the steps to prevent yet another ultra-capitalistic take over vs. a true and genuine modern form of post-capitalism that pertains essentially to the Lankan situation –Social Market Economy tailor-made especially for Sri Lanka?

    For example, aside from irrevocable money that Rajapaksa government (and generally all Lankan governments) and associated personnel put on foreign stocks and shares (and personal assets like foreign property), how is it, from this point onwards, country money and assets to remain in-country? Are Lankan money and assets, very correctly, to be placed in a lockdown and then opened up cautiously to the brand new plan of Social-Market-Economy?

    Write a 10-20-point plan for this. And keep writing about it again and again with charts and flowcharts and pie-charts and projections on how we are fast approaching a Greek-line debt crisis, where even maids in the Middle East will not be able to cushion Sri Lanka against the brunt of the Lankan-mentality capitalistic excess (and the only option left would be to build a land bridge to Tamil Nadu hoping they at least will help us absolve our debts).

  • 3
    2

    NO BRAINERS CAN BE EASILY BRAIN WASHED WITH MICRO AND MACRO ECONOMIC WRITE UPS , BUT THERE ARE OTHERS WITH BRAINS CAN GUIDE THEM TOO BEFORE AND AFTER THE ELECTION.

    NO WORRIES.

  • 2
    6

    Sell, Sell Sell is the UNP Economic Policy in a nutshell.

    Every time they get hold of the Govt, all they do is

    * Cull the public service.

    * Cut the undergrads intake.

    * Sell C W E,

    * Sell C T B

    * Sell Govt land at mates rates to friends .

    This time they have added a .few new feature now that we are a mid income nation.

    Now they will sell Harbours, Airports, and our Toll Roads.

    And get Shell to f…up the local and Indian Gas and fuel companies , because they are booming income generators..

    Batalanada Ranil does this for several reasons.

    Collect Commissions,

    Get the West acquire Infrastructure assets for their Pension Funds so that the Sugar Daddies have a secure income to spend in poor countries.

    And the Western Nations which are buddies of Batalanda Ranil can call the shots.

    And cultivate UNP Bus Mudalalais, Thel Mudalalis, Grocery Mudalis who will turn our poor village folk in to Bathgottas, Sorry UNP cadres.

    Otherwise how can a game baiya become a UNP supporter…

    The heist at the Central Bank must be the mother of all heists in White Collar Crimes.

    But Our Marxist Comrades are too busy wearing their new red elephant T shirts and trying to defeat the only President who done something for the country and her inhabitants in Economic Terms.

    All Uni Dons now must be in FUTA,

    Otherwise how come even the JVP who have been to Uni, don’t talk about Das Capital anymore..

    • 2
      6

      HAVE YOU FORGOTTEN THE TEN YEARS OF DECEPTION?? YOU MAY CONFUSE THE VOTERS WITH DECEPTION BUT IT WILL NOT BE THAT EASY.

      EXPECT TEN YEARS OF CORRUPTION TO BE. WIPED AWAY WITHIN SIX MONTHS??? COME ON. MICRO BRAINERS OF SRI-LANKA.

      YOU KNOW THAT YOUR’E NOT THINKING. CLEARLY.. PLEASE DO NOT CONFUSE THE VOTERS .

      TEN YEARS OF DESTRUCTION DOES NOT EQUALS CB BOND SCAM WHICH IS STILL BEING INVESTIGATED.

      10 YEARS OF DESTRUCTION==1BOND SCAM

  • 1
    3

    You dickhead, the only thing your “only president” did for the inhabitants was give them the ultimatum [Edited out]

  • 1
    3

    The government achievec much despite minimum members of parliment and hostile officila who sabataged the government. As SWRD the government has a non aligned plan and anti neo colonism. In 1956 we broke the elitist pro british hegemony at great cost. We now have to break the grip China has on us. We are showing that markets and FDI are opening up from the west and Japan. The market system has got its grip on china with averice and greed and cravings leadfing the way. However china to will be in our development.
    The development statargy is for human resource development. First the basic needs have to be met. This will harness the potential with better skills, beter attendence and beter work. Scolarships and voctional training with lecturers abroad can be met by 6% GDP investment. Books should be translated and multi media used for training. Using IT will develop methods in all work. Free labour movement with compensation will help people achieve higher wages with training to market requirement.

  • 2
    3

    Regarding the Kadirana road, Prof Liyanage cannot be serious about comparing that to UNP++ economic policy. In 100 days what do you expect? To run the country, reduce prices, revise the constitution and plan the next election and keep MR under control and also file cases against fraud, corruption, waste etc. of the previous regime.

    UNP may not have had a policy. That is a different matter. But it is unfair to infer from the state of the road about the absence of an economic policy.

    If the UNFGG does not have an economic policy for the next 5 years, then that is very serious!

  • 3
    4

    OH. OF. SANASA. CAMPUS. I HAPPENED TO GOOGLE AND HEI PRESTO WHO WAS THE STAR AT THE OPENING CEREMONY IN 2014.?? OFCOURSE. YOU HAVE GUESSED IT ………..THE MASTER CON. ARTIST ,AND THE PUBLICITY SEEKER , THE. BLACK MAGIC KING OF MEDAMULLA. JUNGLE.

  • 8
    0

    Sumanasiri Liyanage

    Economic Sterility Of The UNFGG::

    You are the Dean Faculty of Management and Finance.

    It appears that you are Free to Post your article however trivial it is because of your Position but any criticism is vetted by CT. I have your e mail so I might e mail you if this on doesnt get through. I have few penetrating Questions.

    1) In good old days, debates in the Sri Lankan Parliament were rich not with nonsense, banality and filth but with substantive arguments, creative vision and humor. Also it is interesting to note that the debates were dominated by the left leaders.

    *** Without wishing to be funny let me ask you where has the so callled Creative Vison and Humor taken the Nation. In my view to DEATH & DESTRUCTION.
    I will refer your Quote ” Left Leaders ( No doubt you are referring to Leaders of the left the likes of Peter Keuneman of the Communist Party.) as the Leaders left behind because the other Leaders had already left to better themselves.

    2) Speaking at the Budget debate in the late 1960s, the General Secretary of the Communist Party of Sri Lanka, Pieter Keuneman, said that this budget and the policies of the UNP government had demonstrated clearly its “economic sterility, political impotency and administrative incapacity”.

    *** What was he suggesting as an alternative to Communist System. I thought by Common Consensus Communism is dead. Even Russia & Chaina have embraced Capitalism.

    3) In this column, I argue focusing more on the economic management that this description is more valid in portraying the policies and the performance of the government of the January 8 coalition than that of the UNP government of Prime Minister, Dudley Senanayake. It is interesting to note that Comrade Pieter Keuneman did not talk about corrupt practices of the Dudley Senanayake’s government as widespread corruption was not a phenomenon in pre 1977 UNP governments. Had a day time robbery like what had happened recently at the Central Bank of Sri Lanka occurred under his rule Dudley Senanayake would have resigned immediately from the post of PM. Of course, it is hard to expect that kind of moral behavior from the politicians in this neo-liberal phase.

    *** You are talking about a set of Circumstences and life styles of 21st Century where it has now become a Materialistic World with the the slogan what is in it for me.
    You are talking about Trillons of Ruprees in circulation with a Corrupt appetaite.

    4) The statements by the spokesperson of the January 8 coalition who were later responsible for economic management had demonstrated without any doubt that they were clueless on the issues and had not possessed a clear strategy for economic development of the country. Prior to the Presidential election, I wrote in this column about this sterility of development thinking in Maitripala Sirisena’s election program.

    ** * I dont know much about you but I am sure you are to the left of Politics so you have a Natural Antagonsim to UNP. But that said how could have MS set out his plans not knowing what Mess he was taking on from MR.

    5) This formula has a close affinity with Narendra Modi’s program. Whether the economists of Modi government believes it or not, Modi gave a lot of publicity to the idea that bringing black money deposited in foreign banks would give substantial impetus to the economy.”

    *** You are wrong my friend. Modi never said that the balck money alone would be enough to fund his plans. He said it was a two pronged attack.

    a) Claw back the black money not only it belonged to the people but also as a deterant b) Clean up the system to attract much needed foreign investment.

    6)Candidate Sirisena proposes: “By stopping mega corruption and wastage alone I will act to provide the country with development ten times that of the last six years and provide relief to the people”.

    *** Why is not possible. If you cut down bereaucracy ( MR wtas swindling Billions) you could save Billions. But that wasnt possible as MS faced opposition from MRs cronies who posed a stumbling block.

    7) Prior to the election, besides myself, R.M.B Senanayake and Hema Senanayake had also pinpointed this shallow idea of developing country by transferring money reclaimed from the people who were engaged in corrupt practices to development projects.

    *** I am sorry RMB doesnt even know the defintion of UN.

    8) In the pre-election period, January 8 coalition supporters tried to inflate the amount money that could be reclaimed with the support of the international banking system. However, in the last six months, the UNP government failed to reclaim a single penny from this allegedly stolen money. Hence, it is not a surprise to see that the whole idea of economic development collapsed as a result of over emphasized faith on this shallow idea.

    *** I am sure you are talking something which is not correct. Do you know why the Greek Economy collapsed. It was because of the money from Russian Oligarch similar to Chinese Money.

    9) So the United National Party that placed so much faith on using wasted money on development had later turned into strategy less economic management.

    *** This is what I call saving money by cutting down Bereaucracy. You are getting there very slowly. Well done Dean.

    10) A movement from shallow strategy to strategy-less policies. The outcome of this miserable situation was a decline of growth rate, rise in unemployment, falling living standards and half-done development projects.

    *** This was due to a number of factors. Sri Lanka as a Small Country faced fierce Competition. Take the Garment Industry for instance and I dont have to tell you what happened to it. Simply decimated.

    11) The microcosm that funnily revealed this pathetic situation is the road that I used every day. It is in Kadirana and comes under Katana Pradeshiya Sabha. It was a gravel road that cannot be used in rainy season. And the people who use this road made many requests to repair it. Part of the road was redone placing tar just before the January 8 election.

    *** You have to have priorities and learn to live within your means.

    12) I cited this situation of the road that I use every day. Does the UNP led coalition now have an economic strategy? Not yet clear. Champika Ranawaka on behalf of the United National Front for Good Governance has recently informed that they would in next 5 years adopt ‘social market economy’.

    *** MR is now promising pay rises. Why didnt he do it when he was in Charge. Because him , Gotha and Basil were putting money in their Bags.

    13) Pieter Keuneman’s phrase that the UNP’s vision and policies on economy is sterile and senile is also valid for today. It is the dominant party in the January coalition.

    *** If he was alive Today you could ask him as to why China abandoned Communism and Enbraced Capitalism to become the 2nd largest Economy.
    Funny isnt it how Pendulaum has swung.

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