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| Wednesday, 25 August 2004 |
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Politics | |
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| Five monsters who suck the blood from the national economy should be made viable - Dr. Amunugama by L.B. Wijayasiri in Kandy Finance Minister Dr. Sarath Amunugama said in Kandy that the Board of Investment (BOI), Ceylon Petroleum Corporation (CPC), Central Transport Board (CTB), Ceylon Electricity Board (CEB) and Ceylon Government Railway (CGR) were five monsters who suck the blood from the national economic body. It was therefore necessary to make those establishments viable by the introduction of an efficient management. Dr. Amunugama reassured that those establishments would not be privatised. They would remain under the control of the government. However, it was a vital need to introduce an efficient management system. These institutions were in debt and the government could not provide funds to maintain them from the public coffers continuously nor any bank would provide loans to cover these debts amounting to billions of rupees. It was not possible for the government to pump public funds to those institutions which would bring disastrous results, putting the people into great hardship. Minister Dr. Amunugama was addressing the business community of the Central Province at a seminar held at the Mahaveli Reach Hotel, Katugastota, Kandy. Dr. Amunugama said that these public sector establishments were burdening the Treasury for funds to settle their bank loans and to pay the salaries of their employees. This state of affairs could not be continued, any longer. That was the major reason for their attempts to hand over about 100 filling stations to the Bharath Petroleum Company owned by the Indian government and collect 49 per cent of the value while 51 per cent of shares remained with the corporation. The objective was to collect those funds and hand it over to the CPC to cover their debts. The government was not going to take that money. While the Ceypetco owned a certain number of filling stations, about 100 stations were given over to the Indian Oil Company. There was a suggestion to give the balance 106 stations to China. The JVP too admired China. However, the China did not agree to government's conditions. They wanted to own 100 per cent of shares and not 49 per cent as suggested by the Sri Lanka Government. The government did not agree to those conditions and made the offer to Bharath Petroleum owned by the Indian Government. The Trade Unions protested, he said. "Eventually we are going to do this. We will make those who protest realise that it is necessary. Some of their contentions were that the proposal should have gone through the Cabinet and also discussed with Trade Unions. It was not unreasonable and we will follow that procedure and get the proposal off the ground for the benefit of the country and the corporation as well," added Minister Dr. Amunugama. Dr. Amunugama who refuted the allegations those were being made by the opposition in regard to employing 27,000 unemployed graduates, said that the opposition must be reminded that it was their government who introduced circulars prohibiting employing people to the state sector. They were lying, knowing the truth, with the hope of reaping short term political benefits. He said that private companies of rural youth would be set up in rural areas of carry out government contracts like the renovation of reservoirs and tanks under the '1000 tanks' projects launched recently at Yapahuwa. Ten of them could get-together and form a company. They would not be given government hand-outs, but, they would be provided financial assistance from the national banks. The suggestion has already been discussed with the national banks. This would promote man-power utilization in national development. These companies will be set up at village level or bigger Wasama level, to interact with banks in order to subject themselves to the disciplines of the banking system. They will also have the assurance that whatever the monies that are budgeted for work in the rural areas will be channelled through those banks, Dr. Amunugama explained. He also emphasised the need to increase foreign exchange earnings by increasing exports while reducing the volume of imports in an effort to minimise the spending of foreign exchange. The time has come when they should look for ways of cutting down imports of luxury items and many things used for luxury-type of living. He paid a glowing tribute to the rural people who go to Middle-Eastern and other foreign countries for their foreign remittances. Their invaluable service should be recognised by the Government, added Dr. Amunugama. |
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