Financial Times

"Don't believe the newspapers" - Interior Minister
By Quintus Perera
"I don't take comments in the press seriously," said Minister of Interior and Christian Affairs, John Amaratunga responding to a query at a "Key Persons' Forum' organized by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), held in Colombo last week.

This came when a person from the audience brought to the notice of the Minister an editorial comment in the Daily Mirror and a report in The Sunday Times both regarding police abuse and inaction. Amaratunga, speaking on "Maintaining Law and Order for a Conducive Business Environment", noted that a lot of irresponsible statements made in the media came after the government removed the Criminal Defamation Law from the statute books.

Crime cannot be reduced but could be contained to certain levels, he said adding that a drastic reduction in crime was possible only if there was deterrent punishment and the death penalty to offenders. He said that police now have to produce a suspect within 24 hours before a magistrate, which was inadequate to carry out investigations.

He said the proposed Organized Crimes Bill should be passed in Parliament as this would help the police to keep a suspect in police custody for a week. Crime detection was seriously hampered by human rights cases being filed, he said noting that police officers found guilty by the courts of assaults should be helped when compensation was ordered by the courts.

Amaratunga said that the media often reported about a crime wave in the country, which he did not agree as figures available showed a different picture. He said the ceasefire and the peace process have attracted foreign investors and once peace is established that would help to improve the law and order situation.

Ranil Wijesinha, a well-known accountant who moderated the discussion, said the UNP policy was to reduce crime but it was increasing and the responsibility rested on the Minister of Interior to ensure law and order. Law and order should be there not only for the survival of the business community but also for the survival of the entire society.

Seminar on treasury risk management
The Sri Lanka Forex Association held an advanced three-day bourse game on Treasury Risk Management at the Hotel Taj Samudra last week. This is a development of the fundamental bourse game which is usually organised by the SLFA. The advanced bourse game included risk management in foreign exchange and fixed income markets which included a comprehensive coverage of exchange rate and interest rate derivative products.

The programme included simulated trading sessions with live events from the Sri Lankan market. K.G.D.D. Dheerasinghe, Superintendent of Public Debt at the Central Bank of Sri Lanka, said at the opening ceremony there was a need for dealers to be well versed in risk management techniques ahead of the proposed liberalisation of the capital account.

The SLFA has conducted training programmes to develop dealer knowledge and skills in the foreign exchange and money markets for over a decade. The resource person was S. Venkarakrishnan, Financial Training Manager of the Hongkong and Shanghai Banking Corporation, Bombay who was sponsored by Hongkong Bank, Colombo.

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