I read somewhere that the recent sleight of hand committed by the Chairman of JKH Susantha Ratnayake hand in glove with the chief commercial panjandrum in the public sector, the venerable PBJ was an attempt at audacity in an environment of mediocre performers in the corporate sector. Why not one may ask? Given the pregnant silence of all the gadflies in the prestigious corporate world who are running for cover, the unmasking of one of their captains is not sweet music. Only the CJ had the courage to place this attempt at audacity in the dustbin of Sri Lanka’s much hyped ivory towers.

What is interesting is that these socialite upper crust strong men who at corporate cocktails or private watering holes analyze and lay bare the machinations of our despotic politicians in paradise lost beating their chests in an holier than thou cacophony, are in fact no better than their erstwhile counterparts in the corridors of power.

It is interesting to watch how the most sacred of Chambers manages this little faux paux by one of its chairman in waiting. Indeed one of its past Chairman is already awaiting the outcome of the SLIC judgment. In the past, a nondescript member was heard to exclaim to a Chamber Chairman holding forth on why the smart gentlemen in the private sector must come out and march against the regime of CBK, that it was too little too late. And here we are again, trumpeting audacity as a panacea for the limitations of good governance.

What it boils down to is the shareholder wealth that is so callously managed by people who get too big for their own good. Some unwittingly slide into a cocoon of insensitivity that the funds placed at their disposal can be disposed as they see fit or subtly manipulated to meet their own grandiose designs. Without a doubt, there are many such organizations on both sides of the private and public divide.

Imagine an environment where government spurns malefic ventures like Mihin Air and maintains a host of institutions that have totally lost the right to be, what hope does a tax paying public have? They had COPE to a point, until it was made impotent. So, at least the SEC must tighten its supervisory mechanisms on businesses that dupe shareholders and lulls the general public into a state of anemic suspense with brilliantly designed CSR and mass media scoops.

Company directors must accept accountability for their actions and not rely like their counterparts on Presidential kindness and pardons. The CJ himself has stated that no one is above the law. And therefore, those in the corridors of power whether it is in parliament or in corporate hideouts must realize that they cannot resort to gamesmanship in order to keep their little kingdoms gilded and intact for posterity. Audacity one can admire when it is executed in full glare so that all can applaud. And disdain when they must.

Anura C. de Silva
Pannipitiya