Business Times

All over bar the shouting - 2

‘Truth can be spoken only in the shadows’. This was a comment made by a young, female human rights activist on a BBC programme last week.

The story had nothing to do with Sri Lanka. However as we return this week to the second episode of the Sri Lankan election saga, the following questions are often asked – are the leaders (from all sides of the political spectrum) truthful? Is the public free to express their views without fear in a democracy where the people are supreme and those elected are their ‘servants’?

These issues will continue to dog the Sri Lankan public for months to come at a time when the post-election process continues to be plagued with accusations by the opposition that they were robbed of victory at the presidential poll due to alleged fraud.

Last week, we urged Sri Lankans and the business community to move on and get back to the routine while the proper course of action is taken if there is evidence of a fraud. The Elections Commissioner – who most people feel did an about-turn this week by dismissing allegations of election fraud – also told the opposition they can challenge the verdict in court.

That however is unlikely to dampen the spirits of the opposition which will push the alleged election fraud issue during the upcoming parliamentary polls.

With all kinds of allegations and counter-claims floating around, the public is in a quandary as to what and whom to believe. Credibility once again is taking a backseat and casting a shadow over both the government and the opposition. Clearly one half of the population doesn’t believe what the other side says.

The President, elected for a new term, represents not only those who voted for him but also the rest of the country who voted for someone else. Thus he has a huge challenge and responsibility to restore the credibility of his administration and, in particular, win the support of the minorities. These are important issues to the business community and foreign investors and Rajapaksa’s direction on these issues will be followed closely.

In a Business Times series ‘What do you think’, a representative group of people were asked to articulate their views on a single topic – what should be the priorities of the President (See story on page 8).

High on their list was law and order and human rights as a priority for peace, reconciliation and restoring the environment for investment. There were also calls for a top management team to take the country forward and effectively deliver the economic agenda by the President.

However, to do this requires huge investments by the private sector and foreign investors particularly in infrastructure, a crucial factor in Rajapaksa’s vision to take Sri Lanka to First World status from a Third World country.

This is unlikely to come from the usual flow of western investors who are more interested in the fundamentals in the Sri Lankan economy. Apart from the big investors, where are the global investment gurus Jim Rogers’ and Mark Mobius who visited Sri Lanka raising hopes of investments through their funds and by that, opening the floodgates for others? So where will the money come from?

One point of view suggests that the President is right in shifting alliances to the non-west community from the west. While the government has a standoff with the west over human rights issues with the GSP+ also entering this political dialogue, there are those who believe that aligning forces with countries like China and India is not a bad decision after all.

“My view is that the pro-western tilt is now a dinosaur as China moves in. The West is simply not interested in an insignificant economy like Sri Lanka and our strategic location is irrelevant,” according to a Sri Lankan economist and professional.

So will Rajapaksa continue with his pro-others as has been the practice in the past two to three years? Very much so as he undertakes a tour of Russia (or has already left) where the government is seeking arms and ammunition and an assortment of technical support.

As the public, the government and the opposition chew on these issues in coming weeks when a clearer picture will emerge, it is essential for the business community to move on, invest, re-invest as, by far, the biggest problem the country has faced (the war) is over.

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