Letters
View(s):On Indian ‘financial’ support being ‘Un-appreciated’
The Sunday Times recently carried an appreciation on late Ben Eliatamby authored by Dr. Wickrema Weerasooria two weeks ago while an article “A Response to High Commissioner Y.K. Singh’s statement” appeared in another Sunday newspaper recently. Both these articles opened my eyes to give another aspect of our relationship with India vide the Free Trade Agreements and now the envisaged CEPA.
While Sri Lanka always goes out of the way to ease India to enter into our market, does India genuinely want Sri Lankan products to enter theirs? Many non-tariff barriers are placed on Sri Lankan products, which most of our exporters complain about. While at government level India may be serious, at the bureaucratic level it’s a continuous black out. Indian fishermen fishing in our waters are a blatant violation of our territorial integrity and we have to pander to South Indian politicians whose only interest is to win votes at the cost to Sri Lanka.
The Indian judicial system though has to be recognized as one of integrity. A recent article in this newspaper by Dr. Wickrema Weerasooria writing an appreciation on late Ben Eliatamby, PC, referred to an arbitration case against Indian Oil Corporation (IOC) a Fortune 500 outfit, where the local company was awarded their claim by a retired Supreme Court Judge of India, nominated by IOC themselves!. However, it was stated that IOC has appealed against this verdict and the case is now before the Delhi Appeal Court. Admittedly, Indian Oil got a fine deal at the expense of CPC and now control one third of Sri Lanka’s downstream petroleum market. So why appeal? This simply shows the shabby way public sector undertakings in India treat small Sri Lankan companies and exhaust them out of business.
Under Prime Minister Narendra Modi, the Indian initiative of “Make in India” and “zero effect – zero defect” policy has been given much publicity and investors are asked to visit a web portal especially created for this purpose. Does High Commissioner Y.K. Singh really believe that the Indian bureaucrats will proactively facilitate such investments from Sri Lanka? A case in point is where Ceylon Biscuits invested in a large manufacturing plant in Mumbai running into millions, but had to give it up under Indian judicial action. There are a plethora of circumstances where Indian bureaucrats swallow the “Lilliputian” Sri Lankan businessmen. Why hasn’t the High Commissioner intervened in such instances or has he? Isn’t it also a case where the inputs of Sri Lankan business go “under-appreciated” to use a phrase from his own lexicon.
Mr. Singh is a much loved diplomat – but the use of the phrase “Under appreciation” of Indian aid does not resonate well in our country as exposed by another writer. As suggested by the writer shouldn’t India’s Head of State make a public apology for all the indiscretions caused by successive Indian governments to Sri Lankans over the past 30 years or so on? And Prime Minister Narendra Modi, seen as a colossus of justice and fair play, should consider making that apology if we Sri Lankans are to take the High Commissioner’s plea seriously.
Rohana Jith
Benthara, Kommala
Issues over the Land Bill
Judging by the clauses in the Land Bill, it is probably one of the poorest pieces of proposed legislation in recent times. It is so badly conceived and so badly drafted, one wonders whether it was done by a professional.
I have been made to understand by the relevant authorities that extensive discussions have taken place with the private sector in drafting this bill. In fact, this is what the President has always asked for: Consultation.
However going by recent news reports, it appears that no such consultation has taken place.
The two key engines of economic activity are the public and private sectors. In this context, I fail to understand why the architects of such bills deliberately decided to ignore representations made by the Ceylon Chamber of Commerce on behalf of the private sector.
An official at the chamber tells me that efforts made by the chamber to meet with the relevant officials at the Ministry of Finance to discuss a submission made by the chamber on this very subject were rejected.
The behaviour of state officials who are in the first instance, appointed by persons who in turn are elected by the people, leaves much to be desired. It is strange that they ignore the first principle of a good policy which is to gain the support of the stakeholders. As stated earlier, it is disheartening that such a poor piece of legislation has found its way to the current stage of parliamentary debate.
Arrogance has led to the downfall of many. It is time that officials representing the government at the Ministry of Finance adopt a more respectful, and humble, attitude.
Rohan Perera
Nawala.
CIFL depositors let -down again
As reported in your Business Times October 12th issue depositors of the CIFL are now confronted with another serious issue – this is due to the assurance given by the Central Bank to the CIFL depositors’ officials.
The depositors were told they would get some support from the Central Bank and in return to withdraw the case. On this assurance, the CIFL depositors Association withdrew their case against the Central Bank- but did not inform court the reason why they are withdrawing their case. They should use this as evidence to prove the reason why this case was withdrawn.
To a similar issue, the Central Bank Governor replied to a question by Twitter. Question: Mr. Cabraal, any news on the Golden Key repayment? So many still awaiting repayment for so long?
Answer: The implementation of the payment plan proposed by the Central Bank has to be implemented with Court blessings.
Take the case of the G.K. depositors where payments are to be made after deducting the arrears due from credit card holders with depositors’ dues and to only pay us 41 per cent of our deposits, after over 5 years. Is this act reasonable and just, is the question most depositors wish to receive an answer. The court may find it extremely difficult to grant orders based on such unjust and unfair conditions.
Concerned Depositor
Colombo