It has become so evident that most of the people in Sri Lanka detest
accepting changes in their job, politics, or any other innovative
environment etc. As such there were as usual certain criticism when
Central Bank of Sri Lanka announced the increase of the capital
requirement of the banks.
If you look at it in a prudent way it has to be much appreciated
that, it is certainly going to strengthen the banking sector in Sri
Lanka, mostly advantageous in the international trade which is now most
needed.
The increase in the capital requirement from Rs. 500 million to Rs.
2,500 million may be a considerable shake for the small scale banks, but
if you look at it in a different view, ie. with the stabilising the US
Dollar now at around Rs. 100 per dollar the prevailing capital
requirement is only US $ 5 million which gives a very poor reflection in
the banking environment in the international trade.
When the capital requirement is enhanced to the proposed need,
automatically the strength and the recognition of the banks will also
increase.
In addition bank charges confirmation charges etc. on LCs on imports
will also be reduced, and importers even can negotiate for unconfirmed
LCs, when the risk factor of the banks get reduced.
It is indeed laudable that some banks are already in the competitive
strategies with international trade. We being Sri Lankians should hope
that at least a few banks in our country strive and reach the level to
be within the best 100 banks in the world, which would yield
advantageous to the country.
Today naturally most of the depositors resort to higher interest
rates with the very high inflation rate prevailing now, with the new
banks who offer innovative facilities, but with high risk. The new
proposal will safeguard the depositors to a more healthy situation.
MANGALIKA WIJETUNGE,
Mattegoda
Schoolchildren attending provincial schools or schools in the
villages would have at some stage in their school career heard about the
Greek story teller known as Aesop who lived in the 6th century BC whose
fables are available both in English and Sinhala and arranged in parts
so that schoolchildren could afford to purchase them and read them
either at school or at home and derive pleasure in their wit and humour
and at the same time imbibe the morals engulfed in them.
Among a population of about 20 million in Sri Lanka the majority of
whom are said to be Buddhists, Buddhist sermons and discussions are held
almost daily or weekly all over Buddhist temples and other institutions
throughout the island.
However, it is rather doubtful whether an impact has been made in the
minds of the Buddhists to practise the path they have to follow in the
name of the Buddha especially due to the rapid increase in the crime
waves all over the island.
The 550 Buddhist Jataka Stories (to be exact 498) have been published
both in Sinhala and English in leather bound volumes which fetch very
high prizes amounting to thousand of Rupees and the man in the street
cannot afford to purchase them. At a time when printing machinery and
publishing houses have sprung up like mushrooms the time is now
opportune for someone to step in and have the Buddhist Jataka Stories
printed in parts or small volumes (like Aesop fables) which would be
available in book shops at cheap rates.
The print media in book form will afford a ready reference to the
reader to draw and assimilate the religious morals contained in the said
Buddhist Jataka Stories.
I draw the attention of the Minister for Buddhist Religious Affairs
and the Speaker of Parliament to move in the matter and take early steps
to publish the 550 Buddhist Jataka Stories in parts both in English and
Sinhala (and also have them translated into the Tamil language) so that
even the poor folk can afford to purchase them.
EARL R. DE ZOYSA,
Ratmalana
Sidat Sri Nandalochana's letter about JR's failed attempt to join
Mrs. B's government sent me to my scrap book to get fuller details of
this strange episode. The Weekend of January 16, 1972 had this quote
from JR: "If the Prime Minister (Mrs.B) invites the UNP to join the
government and her proposal is rejected by the UNP.
I may have to join the government together with those UNP members who
support my views."
The Sunday Observer of January 23, 1972 had a fuller statement by JR:
"It may be that some of them do not wish their privileged position to be
changed and are opposed to the new society which the government seeks to
usher in. It had to be granted that Sirima Bandaranaike ushered in more
socialist reforms during the seven years she was Prime Minister than
anyone else or all the others had done before her."
Mrs. B. who had a highly developed sense of self-preservation did not
take the bait. She just ignored JR.
But JR was no socialist though in a typical JR manoeuvre he named his
constitution "The constitution of the democratic socialist republic of
Sri Lanka." The Daily News of March 4, 1987 has this quote from JR.
"About 8 to 10 years ago the UNP was faced with the consequences of the
nationalisation policies of a set of people who though that socialism
was good".
Much later JR came out with an ingenious explantation of his attempt
to join Mrs. B's government. "He (JR) said the strange animal that was
the SLFP government of the time was so intriguing that he had advocated
joining it in order to study the animal from the inside so much so that
there was an attempt to expel him from his party." (Daily News December
30, 1991).
It was around this time that JR told a UK journalist: "I have never
in my life told a lie, not even a white lie". I have to rely on my
memory for this quote because unfortunately I cannot find it in my scrap
book.
V. P. VITTACHI,
Colombo 3
I have been pondering in the recent past, after gaining some
experience in the planting profession over 20 years and feel that I
should share my inner thoughts with those who have the interest of the
industry at heart and trust they will endorse and support all what I
have said here.
In the world of today, the problem of agricultural practices and
production have to be scientifically approached and in this context the
Tea Planter has to primarily consult the T R I where this subject is
scientifically analysed in accord with the changing situations in nature
which we are continuing to experience and I need not have to elaborate
about them in my expression of thoughts.
There are many more and others are still arising. They are complex
and urgent. They hit us very directly and they cannot be ignored. Our
reactions to them have hitherto been negative amateurish and futile.
I wonder how many of us even understand the drift and implications of
what is happening. It has the inevitability of fate and all the ruthless
force of natural law. Some fields of the plantation, I am in charge of
showed of failing in productivity and I was very keen to restore the
level of production and in the circumstances I consulted the T R I and
was quick enough to comprehend my interest and anxiety and after
examination valuable advise was given to overcome this problem.
What I wish to impress upon my colleagues is to make use of their
practical experience which they have gained in a particular area, and
always with consultation with the T R I they could act in the best
interest of the profitability, with scientists' support and I have no
doubt that our employers will give their blessings.
In every direction whether of cultivation or manufacture, we will
soon have to keep abreast of the very latest developments, not only in
Sri Lanka, but in other parts of the world as well and the introduction
of modern improvements presupposes at the very short of a first hand
familiarity with technique.
Consultation with T R I is of paramount improvement. I know, I am
voicing my own considered opinion and no doubt, it will have a powerful
support of all concerned.
MOHAN RAJENDRAM,
Dayagama
Till last year the National Water Supply and Drainage Board used to
send a circular to consumers notifying any change of tariff. The
stealthy tariff increases of this year however are silent stabs.
Water Supply, sanitation, Electricity and transport are there to
maintain a reasonable standard of living for the people, and moreover do
not operate at a profit even in the industrialised countries.
There is another fraudulent side to profit restructuring.
Top-heavy professional inefficiency poor planning (market economics
has a random squint), erratic decision-making and politicalizatioin,
remain largely untouched by this 'restructuring' while the evil results
of all this is passed on to the consumer in increased tariffs.
This happens more with 'privatisation' and this is just what the ILO
pointed out recently at the institutionalization of professional
inefficiency in order to exploit poverty not only in poor countries but
in the developed world as well.
I. Industrial, commercial and foreign investment ventures which use
millions of units are on tariffs far below these for the domestic
consumer who uses above 50 units.
2. The sliding scale which has operated upto now has been replaced by
a lunatic fringe scale where a domestic consumer is placed on a penalty
scale of Rs. 75/ unit for every unit above 15 units if he consumes above
50 units.
3. The 10 per cent surcharge applied temporarily until the new tariff
revision has been applied to the bill sent after this.
U. KARUNATILAKE,
Negegoda |