More funds will help create a better society - Ex CCC President

Mahen Dayananda:

Hiran H. Senewiratne

The government should pay more attention for the improvement of English language and Information Technology skills for the younger generation to face global challenges, said former President, Ceylon Chamber of Commerce (CCC) Mahen Dayananda.

He said that the need of the hour is to link English language and IT in the education system to condition the younger generation for global job markets. This would help to provide more employment opportunities for them not only in Sri Lanka but also overseas.

Dayananda said that the allocation of more funds by the government.for the development of the education system will help create a better society, while the younger generation should get the maximum benefit out of it.

With globalisation the world has shrunk into a global village and the knowledge of English and IT skills will pave the way for the younger generation to be competitive in the global arena, he said.

Q: How do you see the functions of business chambers in Sri Lanka as the former President of the Ceylon Chamber of Commerce (CCC)?

A: The business chambers’ prime functions are to facilitate business needs of the members locally and overseas. The CCC ensures corporate governance among members. The problem is that the chambers are mainly operating through Colombo especially in the Western Province.

Today, the Western Province alone contributes more than 51 per cent of the country’s GDP while other regions’ contributions are significantly low.

Therefore, the business chambers should take these economic activities to other regions or rural areas especially in the Eastern province, which has enormous potential for development. We also interact with regional chambers in the country and are now maintaining a good relationship with them to promote business activities at regional level.

Q: Will there be any impact on Sri Lanka tea in overseas markets in the event the brand name is changed to Sri Lanka tea from “Ceylon tea”?

A: I was the former chairman of Tea Tang Company (Pvt) Ltd, a leading tea exporter in Sri Lanka. Changing the brand name will have a negative effect. The brand “Ceylon Tea” is a very special brand, which has existed over a long period of time. Huge investments have been made to build the brand. Overseas buyers look for the brand “Ceylon Tea” in conjunction with the lion symbol.

Hence, consumers are very conscious about pure Ceylon tea packed in Sri Lanka combined with the legend lion symbol. If there is any change of brand, it will completely dilute the brand identity for Sri Lanka tea.

Q: How will high inflation, interest rates and currency fluctuation impact on the country’s economy?

A: The current inflation level has come down to 10.4 per cent from 20 per cent, and it should come to a level of a single digit. The interest rates are still very high-around 20 per cent and it will come down - 18 per cent to 19 per cent. The rupee has further room for adjustments in relation to exports.

Q: What are the advantages we could get from the current global recession?

A: Possibly overseas manufacturers are looking for lower cost areas for their production and they might look at Sri Lanka as a country to shift their production houses, because our workforce has the reputation of producing high quality goods especially in sectors such as e apparel. Therefore, our workers will have opportunities to work for those companies.

Q: What is your advice to national leaders to resolve the current problems in the country?

A: We have to watch fiscal polices carefully and ensure that there is no wastage of public funds in relation to government expenditure.

We also have to invest in infrastructure projects to move forward the economy. Another aspect is that we need to infuse productivity into our all systems. We must get the maximum use from the Free Trade Agreement with India and position ourselves to serve the Indian market.

Q: What is your advice to the younger generation?

A: The younger generation has to inculcate the habit of hard work and proper focus when it comes to their profession or career. It is also important to work with absolute integrity to go up the corporate ladder. Moreover, the ability to get on with people is also equally important.

Q: What is your philosophy in life?

A: My philosophy is based on hard work coupled with absolute integrity and continuous improvement with regard to knowledge and especially IT skills.

Q: What are the favourite countries you wish to visit?

A: My first choice is Sri Lanka. For business activities I would prefer to visit the United Kingdom, Germany and Japan. When it comes to holidaying I would rather prefer to visit Scotland in the West and Malaysia in the East.

Q: What is your retirement plan?

A: Over the next few years based on certain factors I have to enter a certain stage where I will move away from the operational level to the advisory role to pass my knowledge and experience with the younger generation.

Therefore, after retirement I will be involved in an advisory capacity to help up and coming people in the country.