Will Man Transform Into Beast?

By A. M. Majeed Muzammil –DECEMBER 31, 2020

A. M. Majeed Muzammil

The political leaders as well as ultranationalists in Sri Lanka seem to be suffering from severe amnesia syndrome. I fail to comprehend as to why they have conveniently forgotten the Muslim political leaders’ iconic contribution to gain independence from the British and are bent on perpetually torturing the Muslim community.

Hon. late T.B. Jayah who played a historical role in the struggle for Independence in the State Council would be turning his grave if he knew how the Muslim community is being systematically marginalized, criminalized, and traumatized by ethno-religious nationalistic forces and that too with the blessings of every successive government which ruled since 1948.

Hon T.B. Jayah was a visionary leader and during the pre-independence era, thought the majority community will safeguard the minorities’ interests – specifically the Muslim community – thereby extending unconditional support towards the introduction of the “Dominion Status Bill” – a Sri Lankan bill sponsored by the late Mr.S.W.R.D. Bandaranaike, even at the risk of sacrificing advantages and benefits to his community. 

The colonial regime challenged the national leaders to come up with a joint demand for independence and said that “unless all communities come together we cannot grant independence since we are the custodian of the interests of all”. The pivotal role Hon. Jayah and the Muslim community played became crucial during the negotiations for Independence. Had Hon. Jayah, or the Muslim community, sided with the British at that time or had he joined G .G. Ponnambalam who famously clamoured for a “Fifty-Fifty” (50% of the seats for the Sinhalese and 50% for the minorities) stance, the granting of Independence to Ceylon would have been postponed.

Being a truly patriotic citizen, Hon. Jayah spoke for three hours on the Soulbury Report and the White Paper of the United Kingdom Government to pave the way for full independence. It was on this historic occasion that the then Leader of the House in the State Council, S.W.R.D. Bandaranaike paid him high tribute when he said: “Credit for the attainment of independence should undoubtedly go to T. B. Jayah for his historic speech in passing the Dominion Bill”.

If he were alive today, he would no doubt be heart-broken to see his vision of the Muslim community living harmoniously and peacefully in a pluralistic mother Lanka, shattered and up in flames, both literally and metaphorically, speaking. 

I further wonder if the Islamaphobes are aware that their present Kanatha Cemetery was once a grazing ground and stables for the legendary M.C. Abdul Rahman’s horses as well as parking space for his fleet of horse-carriages. M.C. Abdul Rahman was the 1st Muslim member of the Legislative Council of Sri Lanka in 1889, and being a philanthropist, he donated the Kanatha cemetery to bury dead non-Muslims as a gesture of goodwill. Never in his wildest dreams would he have thought that it would one day be used to cremate the dead bodies of Muslims against their wishes and in direct violation of their religious rites. 

In fact, as a spiritual man himself, Abdul Rahman surely would be cursing in his grave, all those who are responsible for roasting the cadavers of the COVID-19 Muslim victims at the very place that he donated. What a gross travesty of justice!

Where were these so-called ultranationalists and bigots who now victimize the Muslim community, during 30 years conflict with the LTTE when Muslims fought valiantly on the ground with our “Tri Forces heroes” against the Tamil Tigers?

Have they forgotten how Muslim officers did their duty to their nation by playing a pivotal role in defeating terrorism? Colonel Tuan Nizam Muthaliff, Commanding Officer, Military Intelligence Corps was a mastermind behind many successful DPU operations including several ops in the eastern province. He befriended Karuna Amman, a former top LTTE military commander, and was responsible for splitting the LTTE.

Another notable figure was Col. Fazly Lafir, one of the founding officers of Sri Lanka Special Force, who died while leading a rescue mission after the LTTE over-ran the Mullaitivu military garrison in 1996.  He was posthumously awarded Parama Weera Vibhushanya, the highest award for military valour. Colonel Lafir was a key figure behind the evolution of SLA Special Forces, which played a key role until the very last minutes of the Eelam war.

Colonel Tuan Nizam Muthaliff and Col. Fazly Lafir who paid the supreme sacrifice to the motherland too would be turning in their graves to note that fellow Muslims are being routinely rounded and hounded by racists and even their dead bodies are being desecrated.

If Dr. Meththika Vithnage, Dr. Channa Perera  Dr. Anil Jasinghe and other Ministry of Health’s Technical committee members who are vehemently opposing burial despite the World Health Organization’s (WHO) guidelines that categorically permits both cremation and burial for the disposal of Covid-19 related death bodies, are so confident of the ground-water contamination theory, why cannot they openly challenge Prof. Malik Peiris, Prof. Vitharane, Dr. Paba Palihawadana and Dr. Nihal Abeysinghe for an open debate to nail down the issue?

It is by now a known fact that neither is there scientific data to support the claim that COVID-19 can spread through dead bodies nor is there any credible evidence of microbiological contamination of groundwater from burial which causes health hazards to the living.

Sri Lanka’s economy is in tatters due to mismanagement and the Fitch International Rankings has downgraded Sri Lanka from B- to CCC in international transactions. A pandemic with no end in sight, the poor people impacted by lockdown, are now out of employment and struggling more than ever, to survive without any means of sustenance.

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Sri Lanka braces for another challenging year

Thursday, December 31, 2020

The New Year which dawns tomorrow will bring about fresh challenges to our major political parties in keeping with the seismic changes in the domestic political landscape seen in 2020. The survival of some of these parties will depend on how they adapt to these challenging circumstances.

The year 2020 saw quite a few landmark changes. The ruling Sri Lanka Podujana Peramuna (SLPP) emerged as the major political party in the country after its wins at the 2019 Presidential Election which brought President Gotabaya Rajapaksa into power and its massive victory at the 2020 General Election.

The win at the General Election was particularly remarkable because it delivered 145 seats to the SLPP. For all practical purposes however, it does have a two-thirds majority. This was demonstrated when the 20th Amendment was brought before Parliament and was passed with 156 MPs voting for it.

With firm control of the Presidency and Parliament, the SLPP has confirmed its stranglehold on power. With the 20th Amendment to the Constitution now in place, it has received the mandate it asked for- a strong Executive Presidency which will be in total control of governance of the nation.

It is a remarkable success story for a political party which came in to being in late 2016, following former President Mahinda Rajapaksa’s defeat at the 2015 Presidential Election, followed by then President Maithripala Sirisena taking over the leadership of the Sri Lanka Freedom Party (SLFP).

It is well known that the SLPP was conceptualised by former minister Basil Rajapaksa. With the 20th Amendment removing the bar on dual citizens entering Parliament, Rajapaksa is tipped to re-enter Parliament on the SLPP’s National List and is likely to be accommodated in the Cabinet of Ministers.

New Constitution

In 2021, the main objective of the SLPP will be to further consolidate its power, so it could implement the programme envisioned by President Gotabaya Rajapaksa. The next step in this ambitious project is the drafting of a new Constitution for Sri Lanka. Already, a team of legal experts have begun that arduous task.

The SLPP feels that the current Constitution is not well geared to meet the challenges of a modern nation as well as the threats of separatism. It will also focus on issues such as Proportional Representation (PR) in the electoral system and the question of devolution of power among ethnic groups.

It is also likely to be defined based on the experiences of the 2018 constitutional crisis, when there were significant differences of opinion between then President Sirisena and then Prime Minister Ranil Wickremesinghe. The new Constitution is likely to put in place provisions to avert similar situations.

The biggest loser in the political arena in 2020 was the United National Party (UNP). Ousted from power in late 2019, the 74-year-old party which has governed the country for decades was due to contest the 2020 General Elections and become the major opposition party. It was not to be.

The UNP spiralled into a leadership crisis when General Elections were called, with party leader Ranil Wickremesinghe who has held that position since 1994 despite a string of electoral defeats refusing to relinquish office and hand over the reins to his obvious successor, Deputy Leader Sajith Premadasa.

Negotiations were held between the Wickremesinghe and Premadasa factions until the eleventh hour but were unsuccessful. This is because of Wickremesinghe’s obstinacy and some of his loyalists such as Ravi Karunanayake, Akila Viraj Kariyawasam and Vajira Abeywardena urged him to stay on.

In the end, the Premadasa faction went its own way, forming the Samagi Jana Balavegaya (SJB) which contested the General Elections by itself, running head to head with the UNP. The SJB won a decent tally of 54 seats. The UNP was routed countrywide, winning just one seat on the National List.

The extent of the damage done to the UNP is reflected by the fact that the party has not been able to fill the solitary National List seat it is entitled to because of factional infighting, lack of leadership and a general sense of disarray and disorganisation which has permeated to the rank and file of the party.

UNP leadership crisis

The coming year will be a make-or-break year for the UNP. Firstly, it has to resolve its leadership crisis. At 71 years, Wickremesinghe has said he will retire but is lingering on, fuelling speculation that this is yet another of his stalling tactics to ensure that he will retain the leadership eventually.

Ruwan Wijewardene has been appointed as Deputy Leader of the UNP. However, Navin Dissanayake has also publicly signalled his intention to stake his claim for the leadership of the party. This could lead to another bitter leadership contest which is hardly what the party needs at this crucial time.

 

 

Since its Parliamentary representation is virtually zero - and will be so for the lifetime of this Parliament - it is difficult for the UNP to maintain a public profile until the next General Election. It needs to be a viable opposition outside of Parliament but that is a tough task without proper leadership.

The SJB is on a better footing with 46 parliamentarians remaining loyal to it, most of them former UNP stalwarts. It is the largest Opposition party in Parliament. Its leader Sajith Premadasa is the Leader of the Opposition. Yet, it has miles to go to become an alternative to the ruling SLPP.

In 2021, the SJB will be looking to the SLPP for inspiration. That is because the SLPP, a breakaway faction of the SLFP, propelled itself from being the newest political party to being in power in just three years, laying to rest the myth that the Sri Lankans only vote for established political parties.

That this is not the case has now been proven several times over. The SLFP formed alliances with the ‘Chair’ and the ‘Betel Leaf’. Maithripala Sirisena won under a hastily cobbled coalition under the ‘Swan’ symbol. The SLPP has now registered several victories with the ‘Lotus Bud’ (Pohottuwa) as its symbol.

The SJB will be wishing that it can achieve a similar feat with the ‘Telephone’ symbol although hope is not lost that under the new UNP leadership, Premadasa will be invited to take over the Grand Old Party’s reins once again. Thus, the SJB too is in a state of flux and 2021 will be crucial to its future.

The fate of the SLFP also hangs in the balance next year. Its plight is similar to that of the UNP, being a political force of yesteryear that governed the country for decades but now reduced to being only a partner in the SLPP lead coalition. Its leader, Maithripala Sirisena is not even a Cabinet Minister.

In the lead up to the vote on the 20th Amendment to the Constitution, there was speculation that the SLFP would be offered more Cabinet representation in return for its support. That did not happen. The harsh political reality is that the SLFP is not in a position to dictate terms to the SLPP right now.

Former President Sirisena gave vent to his frustrations last week, saying that the SLFP will have to review its support to the SLPP at Provincial Council polls, if its candidates are not allocated sufficient positions in nomination lists. However, such tough talk has not been backed by actions in the past.

The other major party facing a challenge in 2021 is the Tamil National Alliance (TNA). It is no longer the undisputed representative of the Tamil community in the North and the East with several other parties challenging its policies and credentials as reflected in the results of the August 2020 General Election.

Northern and Eastern Provincial Councils

The first challenge the TNA will face will come in the form of elections to the Northern and Eastern Provincial Councils, if they are indeed held in 2021. The TNA has been accused of being a silent partner in the previous Government’s decision to postpone provincial polls from time to time.

The TNA has recorded an erosion of its support in the North and the East due in part to its complacency but also because of its tacit endorsement of some of the actions of the previous Government. If Provincial Council elections are held in 2021, it will be a critical test of popularity for the party.

Currently, the Government too is in two minds about the Provincial Polls, with one school of thought arguing that Provincial Councils may not be required if the proposed new Constitution generates a new instrument for the devolution of power. This is matter that is likely to be resolved in the coming year.

The other major party in Parliament, the Janatha Vimukthi Peramuna (JVP) again struggled at the polls despite its high-profile presence in the media. The party should analyse why its policies fail to attract votes at elections despite having politicians who have not been tainted with corruption.

The year that dawns tomorrow promises to be an exciting one for Sri Lanka even if there are no major polls scheduled. It will be crucial for the futures of at least three major political parties- the UNP, the SJB and the SLFP- and will therefore also be vital for the future of democracy in the country.

 

Country needs a course correction

Friday, 1 January 2021

The election campaign of GR was designed aiming at the votes of majority Sinhala Buddhists. It was the ideology of Mahinda Rajapaksa camp as well in 2015 Presidential Election where they failed. In this instance GR succeeded. He acknowledged that in his 

inaugural speech as well. However, unlike to the previous Heads of State, GR seems to be 

ignoring the interests of the minorities altogether 

At the Presidential Election of 2005, Mahinda Rajapaksa (MR) had a narrow victory over Ranil Wickremesinghe with a majority of 180,000 votes. Ranil Wickremesinghe who spearheaded the peace talks had the support of the moderate Tamil people. Prabhakaran ordered Tamil people not to vote at the Presidential Election. 

Hence the victory of MR was secured.  MR did not have initial plans to end the conflict by war, but the circumstances led him to take that route. It was Prabhakaran who blocked the Mavil Aru dam and created the conditions for the war. MR had given the political leadership to the war and he had a good team to perform that task. Hence Prabhakaran selected his Waterloo.   

The Sinhala Buddhist ethnocentrism was the creator of the conditions of the ethnic conflict and thereby the 30-year long war. Ethnocentrism of Sri Lanka has come to its peak with the Presidency of Gotabaya Rajapaksa (GR). 

Ethnocentric actors in the Government are bringing that ideology in to the level that they antagonise the right-thinking locals as well as the international community. As all the previous two-thirds majority governments thought and acted, they too think they can do whatever they want. 

There are signs that Sinhala Buddhist ethnocentrism has selected its Waterloo by appointing GR as the President and giving him two-third majority in the Parliament. The sad part is that all the citizens of Sri Lanka will have to face the consequences. 

Sinhala Buddhists in this country guided by the Buddhist way of life, had big hearts over the centuries in ethnic relationships. Although at present, the ethnicity, religion and caste are considered as a prerequisite for national leadership, in the history we had kings with different ethnicities with the concurrence of the people in several instances. 

They were not invaders who grabbed the power by force although we had a number of such kings. For example, Nissanka Malla who ruled the country for nine years (1187-1196) in the Polonnaruwa era was not of Sri Lankan origin. This practice maintained by us over millennia was closer to that of current democracies.  

Examine the status of India in this respect. Practicing Buddhism was mixed with Hinduism from the Polonnaruwa era onwards. Even in today there is no difference. Muslims of Sri Lanka had a very good relationship with the kings and the people for about a millennium until the 1915 riots to which Buddhist revival program in the late 19th century also contributed indirectly.  

The status of ethnocentrism in the past

There were instances that the mosques were built in temple land and they were fulfilling their ‘rajakariya’ at temples including the Dalada Maligawa. It was the Sinhala Buddhists and their kings who protected Roman Catholics from Protestants during the Dutch rule in coastal areas.

Ananda College where GR was educated was started as an English Buddhist school, emphasising on the religion and not the ethnicity to counter the maltreatment received by the Buddhists from the State. The movement was against the oppressor and the oppression. There were a number of Tamil and Muslim teachers at Ananda. 

The vision of the forefathers of Ananda and the legendary Principal P. De S. Kularatne was not against other religions but against the undue oppression of Buddhism by the State. Kularatne encouraged T.B. Jayah who was a teacher at Ananda to take over the leadership of Zahira College and also sent several teachers from Ananda to Zahira. 

That was perfectly in line with his vision and the vision of Ananda. Ethnicity came into Ananda College during the time of L.H. Mettananda and by the time GR was educated there, it was transformed to a mere Sinhala Buddhist school, undermining the spirit of the great struggle spearheaded by Ananda College against the oppression. 

The election campaign of GR was designed aiming at the votes of majority Sinhala Buddhists. It was the ideology of Mahinda Rajapaksa camp as well in 2015 Presidential Election where they failed. In this instance GR succeeded. He acknowledged that in his inaugural speech as well. However, unlike to the previous Heads of State, GR seems to be ignoring the interests of the minorities altogether. 

This dirty game of bringing ethnicity and religion to politics was introduced by S.W.R.D. Bandaranaike but he knew what was just and fair and that was why he entered into the Bandaranaike-Chelvanayakam pact. He did not have a back bone to defend it. 

GR seems to be honest compared to his predecessors, including his brother, and for him it was not just an election rhetoric. Probably he might be thinking of the fate of SWRD. What is most probable is that he wants to hold onto the so-called winning formula in the light of deteriorating popularity, but it is fast becoming the defeating formula.

Respecting the views of others

Ethnocentrism, the guiding star of the GR presidency started to play havoc. For instance, we can take the issue of the cremation of the dead bodies affected by COVID-19 can be considered. It was reported that neither the Cabinet nor the Foreign Ministry were aware of the request by Sri Lanka to bury the bodies of Sri Lankan Muslims affected by COVID-19 in Maldives. 

It was the President who requested that. When I heard about the request, I felt ashamed since he was our President. What a mentality to have that type of request from a foreign country. If we compare our President with the Prime Minister of New Zealand, what a gap we see in relation to empathy.

There is enough evidence put forward by the medical professionals supporting the burial. There are WHO guidelines supporting the burial. There are human rights guidelines supporting the burial. I do not believe that my body should be buried when I am dead but if someone believes that it should be the case, I wholeheartedly support that.  

This democratic principle of respecting the views of the others especially who represent views of small groups or of minority ethnic and religious groups is alien in the ethnocentric ideology. All of them are more concerned of the spread of the virus from dead bodies and are blind to the ineffective control of spreading of the virus from live bodies. 

Hence, they are not really concerned of the spread of virus but want to counter the belief that the dead bodies should not be cremated. If the science says that the bodies affected by the disease should be cremated those should be cremated and if the science says that the bodies affected by the disease should be buried those should be buried irrespective of their beliefs. 

The people of this country should understand that nationalism or patriotism is not ethnocentrism. People should have their ethnic identities, but nationalism is much broader. Humanity is the broadest. In the present day certain political leaders look beyond nationalism. GR and his counterpart in India are with ethnocentric ideals.

Narendra Modi is destroying the secular ideals carefully built up by Mahatma Gandhi and trying to uplift the values of Vinayak Savarkar, the forerunner of Hindutva movement. He can do it in the short run and the repercussions will be in the long run to be faced by a new generation. 

He can do it since his party is stronger and the country is stronger. Donald Trump did a similar thing in the US against the liberal ideals evolved over centuries and he had to get his term limited. Sri Lanka cannot do it since the country is weaker.

The state of the current economy

The economy of the country is in doldrums due to bad financial management and corruption of successive governments and of cause with COVID-19. Fiscal consolidation is the key to stabilisation of a country in the situation of Sri Lanka which was initiated by Ranil Wickremesinghe Government with much criticism of the private sector which is concerned of their pockets only like all the stakeholders in Sri Lanka. 

This Government has abandoned it. They were so keen to throw it away altogether and, in the run, they have abolished the PAYE as well which was not a tax but a mode of collecting a tax in advance.  The private sector did not utter a word. Downgrading by Rating Agencies causing higher interest rate for sovereign borrowings amid the pandemic could have been countered if the country were progressing towards fiscal consolidation.

We would be able to see the fireworks with the introduction of the new Constitution minus the Provincial Councils which will provoke the minorities as well as India which is firmly aligned with the US. The incoming Biden administration will closely work with its allies including the EU and Britain where our export market is. The myopic thinkers of the GR camp will push the country towards China, of which the autocratic and unaccountable governing system is the desire of that camp.

The performance of the Government and especially the President is disastrous. Most of the time what the Government says in defence of its actions are ridiculous.

The country needs a course correction at this point. The country was governed by dishonest leaders over a period. Rebellions were launched against them unsuccessfully and the society did not learn lessons out of that. It is going in the same track. 

After 72 years of independence, we do not have a Constitution acceptable to all. Having centralised the power vertically, the new Constitution which is going to be introduced would be the most disastrous one with centralisation of power horizontally as well.  

There is a need of restructuring the current systems of governance, Judiciary, and public service. Therefore, we should start the preparation of a Constitution which would be the forerunner of a people’s movement aimed at changing the direction of the country. This would be an alternative to short term objectives of the politicians of grabbing the power next time.

 

Trade Deficit Contracts 24.7% Jan-Oct

Dec 15 2020

Sri Lanka’s trade deficit contracted 24.7 per cent to US$ 4.85 billion during the first ten months of this year from US$ 6.45 billion a year earlier, as imports and exports to the country during the period declined 19.9 per cent and 16.7 per cent respectively.

According to data released by the Central Bank of Sri Lanka, the Country’s trade deficit during October this year contracted 38.66 per cent to US$ 514 million from Rs 838 million a year earlier as imports and exports contracted 24.9 per cent and 13.2 per cent respectively.

Export earnings during the first ten months of this year reached nearly US$ 8.29 billion, down 16.7 per cent compared to US$ 9.96 billion a year ago, while expenditure on imports reached US$ 13.14 billion, down 19.9 per cent compared to US$ 16.41 billion.

In October last year, imports contracted 24.9 per cent to US$ 1.36 billion from US$ 1.81 billion a year ago, while exports declined 13.2 per cent to US$ 848 million from US$ 977 million.

Export earnings of Sri Lanka during the first ten months of last year were driven by industrial exports, which declined 19.5 per cent to US$ 6.31 billion from US$ 7.83 billion a year ago.

Agricultural exports declined 6.2 per cent to US$ 1.94 billion from US$ 2.08 billion, while mineral exports declined 35.6 per cent to US$ 18.1 million from US$ 28.1 million and unclassified exports declined 13.8 per cent to US$ 12.2 million from 14.2 million a year ago.

In October this year, industrial export declined 16.9 to US$ 633 million from US$ 762 million a year earlier, while mineral exports declined 36.8 per cent to US$ 2.2 million from US$ 3.5 million.

However, Agricultural exports in October increased 0.6 per cent to US$ 211 million from US$ 210 million a year ago, while unclassified exports increased 3.4 per cent to US$ 1.6 million from 1.5 million.

Meanwhile, expenditure on imports reduced due to reduced spending on consumer goods, which declined 11.8 per cent during the first ten months of this year to US$ 2.81 billion from US$ 3.19 billion a year ago, while import of intermediate goods declined 21.5 per cent to US$ 7.39 billion from US$ 9.42 billion a year ago and import of investment goods declined 22.9 per cent to US$ 2.92 billion from US$ 3.78 billion.

However, unclassified imports during the ten months under consideration increased 92.9 per cent to US$ 12.4 million from 6.4 million a year earlier.

On a monthly basis, expenditure on consumer goods declined 34.4 per cent to US$ 251.6 million in October this year from US$ 383 million a year ago, while intermediate goods declined 21.4 per cent to US$ 817 million from US$ 1,040 million, investment goods declined 24.9 per cent to US$ 293 million from 391 million and unclassified imports declined 83.5 per cent to 0.2 million from US$ 1.2 million.

All major segments, including vehicle, Gold and Fuel imports posted declines during the ten months as well as in October last year.

 SEC Plans Further Action Against MTD Walkers PLC

By Rusiripala Tennakoon –DECEMBER 30, 2020

Rusiripala Tennakoon

Sunday Times BT reported about the engagement of a Local Audit Firm by the SEC to get to the bottom of MTD accounts. This action is pursued in the context of defaulting payments on the type B Debentures issued by this Company and several other irregularities committed there. Non submission of the Annual Reports for 2018/2019, Interim financials after 30th June 2019 and alleged sale of assets associated with siphoning out of Funds without proper internal controls. The Commission has decided to initiate action to conduct a Special Purpose Audit and obtain a report to consider any further action warranted.

The SEC has specifically ordered the MTD- Board of Directors, CEO, CFO and all management personnel to desist in any manner from destroying, concealing, altering, removing, amending or cause the destruction, concealment, alteration, amendment or removal of any information that is in the records or books maintained by the Company. SEC has already imposed a compounding fee of Rs.36.3 million on the MTD directors for breach of listing rules violating rule no.6 of the Act.  

Several Commercial Banks have initiated action against MTD Walkers Group for the recovery of overdues running into Billions.  Four Banks by their petitions claimed that MTD Walkers owed them money and was attempting to transfer shares in the name of third parties and obtained restraining orders from the Commercial High Courts preventing the Company from doing so. Peoples Bank, was among those contemplating legal action against this company. 

Unlike the other Commercial Banks, the role of lending to this Company by the Peoples Bank was alleged to be tainted with apprehensive deals in a distrustful and fishy background due to the Executive Deputy Chairman of MTD Walkers PLC serving simultaneously as a member of the Board of Directors of the PB. Mr. Jehan Amaratunga has been a Director of the PB since 2010 and was designated as Country  Head of MTD Walkers PLC, Sri Lanka, overseeing the operations of MTD Walkers and its subsidiaries when he was appointed as a Director of the PB. He resigned from the Bank Board on 18th October 2018, with retrospective effect from 31st August 2018?

At one stage the total borrowings of this Company from the PB exceeded Rs.10 Billion and it became a public issue discussed widely including the Parliament. The questionable nature arose due to Jehan Amaratunga holding several important positions in the Bank while serving as the Executive Deputy Chairman of the Company. When he was a Director of the Peoples Bank he has served as a member of;

Board integrated Risk management Committee from 2010

Board nomination committee from 2010

Chairman of the Board Audit Committee since 2010

Board IT committee

Board Investment banking Committee

Board Strategic plan review committee

Peoples bank had granted facilities amounting to about Rs 10 Billion from time to time during the period Amaratunga was holding these positions.

CSE categorized MTD Walkers PLC as a Company reflecting in the Watch List with effect from 2-7-2018. This was due to non-compliance of CSE rules as observed by them over a period of time. 

But PB granted Rs.1 billion in March 2018, which has been  transferred to NPL on 27th July 2018.

This has been approved when the position of the Company’s Financials were  as follows;

Balance sheet of the Company for the year ending 31-3-2018 showed a negative cash flow of Rs.4.95 billion and an annual loss of Rs.2.8 Billion while its current account with the bank remained overdrawn to the extent of Rs.6.2 Billion. A debenture issue of Rs.3Billion was due to mature in September 2018.

Subsidiaries of the PB, Peoples Leasing and Peoples Merchant too have granted facilities to this group in addition to the bank

{this shows that the bank has failed or overlooked under some influence to apply correct assessment criteria}

Chairman of the bank Hemasiri Fernando, however, issuing a public statement announced that the bank has followed the procedures in accordance with the CBSL regulations in granting these loans.

It is relevant to consider some of the revelations made about the facilities extended to this Group of Companies at the (parliament) COPE inquiry held on 05-09-2019.

CML-MTD Construction Ltd facilities have been rescheduled 31 times

The total due from  CML-MTD Construction Ltd is about Rs 7000 million

An amount of Rs. 3946 million from this Group has been transferred to NPL category

Of this amount Rs 3339 million (85%) has been granted with no tangible security

CEO of PB, Gunewardana who was summoned for the inquiry offered the following explanation to the COPE; 

“One of the practices of banks is to grant loans looking at the cash flows. CML-MTD is an old company in Sri lanka listed in the Securities Exchange. Hence we presumed that the Company is run by a professional management as a corporate entity……… This company has honoured its obligations successfully previously for 10 to 15 years. We gave facilities in that background also taking into consideration the controls by SEC as a listed company………”

According to these statements both SEC and the CBSL are to be held responsible for the monitoring of the quality of lending to this Company.

The operations which have been highlighted in the Audit Reports reveal a different story. Between 2015 and 2019 the lending process of the PB to MTD-Walkers has been made extraordinarily liberal with the Board and the Chairman of the Bank endorsing the recommendations of the Credit line officials. This is borne out by the fact that the facilities had to be soon transferred to NPL and were granted without tangible, (easily realizable) securities making it impossible for the bank to recover them when defaulted. Some of the strange and exceptional transactions will elaborate this position.   

PB has invested a total of Rs 26.77 million worth in the shares of this company

Ironically while the Company liabilities towards the bank were so stretched PB decided to invest Rs 500 million in the debenture issue of this Company. This investment has been made when the Company balance sheet was showing a loss in the Company for 2015/16  

{The Board Investment banking committee with Jehan Amaratunga has recommended this investment which is in default today.

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Will free expression become a casualty of 2020 dystopia?

 30 December 2020

No one could have imagined the dystopian extremes 2020 took us to. A 112-day lockdown in Victoria, Australia pales compared to what others have experienced in other parts of the world. 
Victoria came out of the lockdown in late October. In early October, Sri Lanka recorded a sudden, sharp spike in numbers when, what is now referred to as the Brandix cluster came to light. 
There appears to be no effective arrest in the surge in the past two and half months neither is it clear as to what triggered this wave. 

We enter 2021 with apprehensions and fraught nerves like never before. There is the fear of the pandemic, when will we feel safe, ever again? A question neither authoritarian administrations nor democratic ones have failed to answer. One has tried to deal with fears by mercilessly controlling the information while the other has tried to allay fears by way of being as transparent as the circumstances warrant. 

"We already see the powerful role that social media plays in all this. This is the reason why we are talking about controlling the Facebook posts of fake profiles desk warriors rather than talking of a competent authority for the media. The latter was the option a decade back. Not anymore"

Controlling information has become one of the key by-products of the pandemic. Even before the world came face to face with the true width and girth of the pandemic, WHO had already declared it an infodemic. 
In the past few months I have been talking to media professionals all over the world on the impact of COVID-19 on their work and personal lives. The unanimous consensus is that fake news has evolved into a major work-life concern not only for journalists but to the world at large. 

The digital rabbit holes and echo chambers that have made social media platforms so popular and rich were also the same conduits that sucked millions into believing quack theories on the pandemic. 
The rabbit holes thrive on appealing to the senses, not to rationality. Fear is a big motivator. It drives people to unexpected extremes. It is fear that is driving the information black holes. 
How do we deal with mass fear? More importantly how do we understand how this fear is manipulated to gain financial and political ends? 

"We enter 2021 with apprehensions and fraught nerves like never before. There is the fear of the pandemic, when will we feel safe, ever again? A question neither authoritarian administrations nor democratic ones have failed to answer"

Among journalists, especially in countries with track records of administrations keen to take over the message and the messenger and populations more than primed to acquiesce, there is real fear that the current global climate would be used for the same purpose. In Sri Lanka whispers in the Byzantine digital world of efforts to collar the web have been increasing. Now it is clear that the intention has moved well beyond bullet points. Several government high rankers have confirmed this. 
We are not so sure of where this is heading to. 

Since the 2018 race riots, social media platforms, especially Facebook has had communication channels open with Colombo. The consultations have been on how to limit the spread of hate at least that has been the focus that interlocutors from the platforms want to keep. Reality seems to be a bit more spun on political survival. Taking full on control of social media has been hinted but denied. 
There is always the Chinese model – the Great Firewall – that has been talked about. The lattice work of dealing with the infodemic could be the best disguise for a full court press on dissent. 

"In Sri Lanka whispers in the Byzantine digital world of efforts to collar the web have been increasing. Now it is clear that the intention has moved well beyond bullet points. Several government high rankers have confirmed this"

Where is all this leading to? The year 2021 will bring us to the crossroads of people deciding whether the free flow of information, is ideal. Whether the chaos of free expression is the worth the mayhem it leads to or whether the inherently contradictory notion of a benevolent dictatorship is best suited? 
We already see the powerful role that social media plays in all this. This is the reason why we are talking about controlling the Facebook posts of fake profiles desk warriors rather than talking of a competent authority for the media. The latter was the option a decade back. Not anymore. 

Because the once feisty media has been brought in line years of erosion of media professionalism on top of politically laced commercialisation of the news industry has done the job. The occasional violent attack, the few unsolved assassinations have snuffed out any pretence of a fight. 

The writer is an academic and journalist. He can be contacted on amantha.perera@cqumail.com

 

Twenty one thoughts for 2021: Essentials for excellence

Friday, 1 January 2021 

A refreshing 31,557,600 seconds in 2021 are with us. COVID-19 is still with us and perhaps will continue to be with us. Yet, the refreshing sprit of a brand new year invites us not only to have brand new thoughts but to convert them into grand actions. 

As usual, people tend to have New Year resolutions. My suggestion is to go beyond scant resolutions, to have specific reinforcements. As an appetiser for a productive New Year, I would like to share 21 thoughts for 2021 as essentials for excellence, especially with the Sri Lankan managers in mind. 

Efficient

We all complain about lack of time. Even though, there are seminars, workshops, trainings and lectures on “time management”, we really cannot manage time. It is finite and fixed. Instead what we can do is to “manage ourselves” in getting the best out of the given limited time. Only way to do that is to be efficient in our tasks. It involves minimising the wastages, reducing the defects, curtailing the deviations etc. Let us be efficient in the year 2021.

Effective

Being efficient is not enough. We can efficiently climb a ladder placed against a wrong wall. Effectiveness is results related. It deals with the outputs and the outcomes. That’s where we need to being with the end in mind. The mistake we do sometimes is trying to be super-duper efficient, losing track of the larger goal. Let us be effective in the year 2021.

Empathic

As we know, empathy is getting into others shoes and walking like them. In other words, it means having the ability to look at a problem or an issue from the other’s frame of view. Sri Lankan managers and administrators can improve vastly on this. Rather than jumping into conclusions merely looking at one side of the story, a mature broad approach of being empathic is required. Let us be empathic in the year 2021.

Energetic

We need to be “corporate athletes” in maintaining healthy mind-body balance. Energy flows out not by consuming more “energy drinks” but committing to exercise regularly. Unfortunately we see quite the contrary in the corporate world, where most of the things are remote-controlled. 

Finding quality time for physical exercises on a regular basis will be one sure cure for physical inactivity. Having a healthy dietary pattern, in opting to be fit than fat, is another vital need.  Let us be energetic in the year 2021.  

Enthusiastic

Happy employees are productive employees. That’s what the research says. Interestingly, that’s why some enthusiastic enterprises have resorted to measure “laughs per hour”. There are ground realities one cannot ignore. Either one has to find the work he/she loves to do, or love the work he/she has to do. Having a positive approach to work is an absolute must. As Theodore Roosevelt said: “Do what you can, with what you have, wherever you are.” Let us be enthusiastic in the year 2021. 

Envision

“Dare to dream, dare to act, dare to fail, dare to succeed”, so goes an old saying. Everything begins with envisioning. As Walt Disney said, if you can dream it, you can deliver it. Unfortunately we see more “day dreams” in Sri Lankan workplaces, especially after lunch. The need of the hour is to be more growth-oriented in terms of working towards long-term goals. Let us envision in the year 2021. 

Enhance

We need to enhance our knowledge and skills. With internet as a vast ocean of knowledge offering a variety of informal learning approaches, learning has become a part and parcel of our lives. Unfortunately, we visit internet to find “figures” instead of “facts and figures”.  

Sharpening ourselves with cutting-edge knowledge is an absolute must in facing competition. As Socrates said a long time ago, we learn from “the womb to the tomb”.  Let us enhance ourselves in the year 2021.

Engage

Employee engagement has already become a buzz word in the business circles. It captures the essence of employees’ head, hands and heart involvement in work. It refers to employee’s psychological state (e.g. one’s identification with the organisation), his/her disposition (e.g. one’s positive feeling towards the organisation) and performance (e.g. one’s level of discretionary effort). 

In brief, it captures affective (feeling), cognitive (thinking) and behavioural (acting) dimensions of an employee. We need to engage more in order to excel. Let us engage more in the year 2021.

Explore

This is essentially about being creative, in thinking “out of the box”. It reminds me of what our veteran writer Kumaratunga Munidasa said a long time ago. “A nation without innovation will not prosper, but will lie lamenting, being unable to beg.” 

Innovation has paved the way for many a country to succeed in becoming globally competitive. Where are we with regard to innovation? How many new patents do Sri Lankans register annually? Nanotechnology and biotechnology can be sited as promising areas where innovation has begun to yield dividends. Let us explore in the year 2021.

Empower

As Lao Tsu said a long time ago, great leaders are “leader breeders”. Such a transformation can only be possible through empowerment. It involves, on the one hand, delegation, Assigning tasks to others to handle, whilst being accountable. On the other hand, it involves development. The fundamental mistake we do is to simply delegate tasks without developing the team. Let us empower in the year 2021.

Endure

This is all about continuation. We start things with a big bang and discontinue half-way through. Sustainability has become a critical factor in the midst of business failures. Chaotic weather patterns across the globe are a grim reminder that eco-friendly practices of work need a lot more attention. What matters are not only profits and people, but the planet as well. Let us endure in the year 2021. 

Embrace

In a rapidly changing well-connected world, we need to embrace best practices, and perhaps the “next” practices. Take recruitment for an example. Rather than having an interview by a panel of senior members who have no idea about what real interviewing is all about, the time has come to move towards professionalism. 

There are new techniques to conduct behavioural interviews. Required competencies to a job against actual competencies of a candidate can be accessed through a well-designed assessment centre. The starting point is to acknowledge the need to change in appropriately adapting the new practices. Let us embrace more in 2021. 

Enrich

It is a broad term capturing the physical, mental, emotional, social and spiritual facets of life. We need enrichment in a balanced manner in all above fronts. Sadly but surely, what we see in the world is quite the contrary. There is imbalance with the mad rush for material acquisition. As I saw in a poster somewhere, “we gain wealth by sacrificing our health and we regain health by spending our wealth”. Let us enrich more in 2021. 

Engross

It refers to get involved totally, with complete participation. It differs from engagement to the extent where you need to be holistic and be willing to capture the fullness of a situation. Half-hearted, half-baked approaches with shabbily completing tasks are quite the opposites. The Asian term ‘mindfulness’ aptly captures what you need to do fully in living in the moment. Let us engross more in meaningful activities in 2021. 

Erase

When Nelson Mandela was released from 27 years of rigorous imprisonment, first thing he did was to forgive his enemies. Then he said: “Reconciliation begins now.” It invites us to forgive and forget. In brief, it refers to the erasing of negative memories. The sooner we erase the negative memories, yet retaining the lessons learnt, the better it is for us to experience inner freedom. Let us erase the past negativities in 2021.

Elevate

We need to continuously elevate our standards in order to stay competitive. It is voluntarily raising the bar. ‘Kaisen’ invites us to continuously improve in challenging our past performance and raising the targets for future performance. As the famous quote goes: “Aim for the sky and you’ll reach the ceiling; aim for the ceiling and you’ll stay on the floor.” Let us elevate ourselves in 2021. 

Emancipate

This is comparatively a subtle aspect. It deals with practicing the values. The numerous stories we heard ranging from global credit crunch to Golden Key chaos, call for the need of ethicality. It is not achieving short-term gains “either by hook or by crook” but something much deeper, grounded on solid principles. 

Ethics is difficult to define in a precise way. In a general sense, ethics is the code of moral principles and values that governs the behaviours of a person or a group with respect to what is right or what is wrong. “Do unto others as you would have them do unto you,” says the golden rule of ethics. Let us emancipate in 2021.

Enthral

This is the logical extension of emancipation. You radiate “positive energy” to energise and engage others. Leaders should enthral their team members towards a clear purpose so that they become committed collaborators. It is the capacity to persuade others for a worthy cause. Let us immensely enthral in 2021.

Engulf

There is a growing optimism about a better political culture with higher accountability at all levels, in moving beyond conventional power boundaries. Engulfing involves complete covering of something or someone. Integrity should engulf Sri Lankan institutions where corruption has been rampant, with a clean slate of transparency through professionalism. Let us positively engulf ourselves in 2021.

Exclaim

I thought this is something we need specially in battling with a planetary pandemic. Having positive vibrations of resilience (of course not becoming COVID-19 positive) is required at all fronts. The doom and gloom of a pandemic should be overcome by the boom and zoom (yes, with “Zoom” thanks to Eric Yuan, Chinese-born American billionaire businessman). 

It is to show the positive and constructive response with confidence to a challenging economic reality. It is also responding to VUCA 1.0 (Volatility, Uncertainty, Complexity, and Ambiguity) with VUCA 2.0 (Vision, Understanding, Confidence and Agility). Let us exclaim our resilience, recovery, and revival in 2021. 

Excel

This is the culmination of all above Es. Excellence is all about being exceptionally good. When applied to enterprises, it involves exceptional achievements in a consistent manner. “We are what we repeatedly do; Excellence, then, is not an act but a habit,” so said Aristotle a long time ago, which has much relevance for today and tomorrow. 

The dawn of 2021 offers us another opportunity to have a fresh look at our lives. Embracing the 21 thoughts for a terrific “twenty twenty” will ensure the exceeding of expectations with excellence as essence. 

May 2021 be a year of excellence for you, as an individual, as an interactive team member, as an institutional employee, all above as an integral player in an island of ingenuity. Let us excel in 2021.

(The writer can be reached through director@pim.sjp.ac.lk, ajantha@ou.edu or www.ajanthadharmasiri.info.)