The Securities and Exchange Commission (SEC) last week launched a training programme for the financial news media in an effort to raise the expertise of journalists in this discipline.
Dr Harendra Dissabandara, Director Financial Services Academy (FSA), the training arm of the SEC told the Sunday Times FT on the sidelines of the launch of these training courses, that these were designed to fill the gap of financial knowledge of journalists in the business media.
He said the demand is quite high at present for the course and students will be admitted on a first come first served basis. “Right now we have 50 places and the course is conducted in Sinhala. Considering the importance of the national need for well trained financial journalists, the initial course will be free of charge,” he said, adding that it costs the FSA about Rs 40,000 per person.
He said trainers will be drawn from academia and the industry and the next course will be conducted in English.
Deputy Minister Finance and Planning Sarath Amunugama, speaking at the launch stressed the importance of financial news and reporting the facts. “There are more than 140 state corporations and the taxpayers subsidise them.
These are worse (as the corporations are overstaffed and corrupt) than what Sakvithi did (because it is equivalent to robbing the taxpayers),” he said, adding that these are termed as 'sexy' stories which the media should follow.
He noted that no one goes to courts against these corporations, but there is no hesitancy to file action against firms which show profitability.
He said Customs taxes, income taxes and excise taxes have reduced during the past year and the government barely has enough money to pay the government servants’ salaries, pensions and foreign loans. “This is where the share market comes in with people investing in shares the financial system will be broadbased and the state’s burden will be somewhat eased,” he said. |
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