Financial Times

Mind your own business

Corrupt politicians
When Prime Minister Ranil Wickremesinghe was asked during a meeting with J-Biz - just before parliament was dissolved - whether he was ready to abolish the constitution, the question stumped the PM. "I am not ready to abolish the constitution," he quickly said.

But the Premier got his chance when J-Biz President Mahendra Amarasuriya posed the question about crossovers and corrupt politicians. "Are you saying your brother-in-law is corrupt," asked Ranil?

No teeth

The Fiscal Management Act doesn't have the teeth to make sure it works as The Sunday Times found last week. There are no penalties if the government fails to conform to its clauses and even foreign donors have to grin and bear if budgets go beyond targets.

This is what a former Chamber of Commerce chairman pointed out some years back when the Financial Sector Reforms bill was being considered.

He said that unless the minister, the government and the Finance Secretary are bound by penal sanctions the bill and enactment would be ineffective. The then chamber chief was told that the government was committed to it and its professionalism will show the way and others will find it hard to break tradition.
Many firsts

Sri Lanka has many firsts like the most number of suicides, the highest number of road accidents, the highest number of public servants, the larger number of elections and now we have the highest number of politicians (more than 4,000) per capita! This point was made by former FCCSL president Patrick Amarasinghe at the meeting between the Freedom Alliance and the business community. "If we have so many politicians why can't this country develop," he asked, a piece of information which surprised many politicians including Information Minister Lakshman Kadirgamar. "I didn't think it was that much. It seems we have more politicians than doctors!" he said.

Joke in town:

April 1 - Fools day

April 2 - When all the ...ls get elected!

Talking point:

Sarath Amunugama’s arrogant reply to a question from a J-Biz member. "If this is the way they are out of power, what would happen when they are in power," quipped a corporate executive.

Back to Business