OMLANKA

Latest Headlines

 

Gotabhaya’s economic blueprint is blue print for disaster, building castles in the air: Mangala

Mangala Samaraweera

Finance Minister Mangala Samaraweera has dismissed the SLPP’s presidential candidate Gotabaya Rajapaksa’s ‘economic blueprint’, unveiled on Sunday as nothing but a blue print for disaster, building castles in the air.

He made the criticism in a statement issued on Tuesday. It said:

“Gotabaya Rajapaksa’s so-called ‘economic blueprint’ is anything but a plan. The 82 slides, released on Sunday, pump aspiration and dump implementation. A blueprint is supposed to be a roadmap for how to achieve an objective. The slide-deck dreams many dreams. But there is precious little that can be put into action. It is, at best, a blueprint for building castles in the air; at worst, a blueprint for disaster.

More worryingly, it has taken the sensible strategy of Vision 2025 and fused it with toxic Rajapaksa kleptocracy. In reality, the ‘blueprint’ sets Sri Lanka on a ‘Vipathmaga’ – a road to sorrow – returning to the era of debt-fuelled crony capitalism. The fact that one of the sessions was chaired by a person arrested for financial fraud, and indicted by the Attorney-General, demonstrates the calibre of advisors preparing these documents.

As such, the only surprise for me was seeing captains of industry listening avidly to Gotabaya’s speech. For it was only a few years ago that, in hushed whispers and fitfully looking over their shoulders, many complained discreetly about having to cut deals and grease one of four gilded palms at five star hotels to get anything done. Perhaps they think that attending such an event is an act of ‘strategic promiscuity’ – buying insurance, should the worst occur.

But that insurance is no safety net. The sugar high of the post-war years cannot return. The previous regime borrowed so much during their tenure that Sri Lanka’s credit card is maxed out. Any attempt to load further debt, or to destabilize the economy, will mean that financial markets will withdraw credit and increase interest rates. But that does not worry the organizers of ‘Vipathmaga’. Their economic plan is simple: a return to the dictatorial kleptocracy of the ancient regime.

In fact, the ‘Vipathmaga’ presentation shows that no lessons have been learnt from the mistakes of the past. There is no reassurance there won’t be even more Hambantota Ports and Airports, Lotus Towers and cricket stadiums. Not to mention pumping and dumping the stock-market, artificially over-valuing the rupee (in the process destroying export competitiveness) and making a profitable airline loss-making because the CEO did his job.”

 

Trinco Football Fest 2019

Token fast at Chavakacheri by Tamil political parties

A token fast was held by Tamil political parties at the Sivan Temple premises on Saturday, Septemeber 26 urging the government to respect the rights...
Read more

Smart Classroom declared open at Kaileswara College, Nilaveli

 - By S.Kathiravan A smart classroom of the Nilaveli Kaileswara College was declared open recently under the patronage of Trincomalee Zonal Director of Education Sivagnanam Sivagnanam...
Read more

Wellawatte Saiva Mangaiyar Vidyalayam Prefects in Cleaning Campaign along coastal...

- By Shanmugalingam Surenthiran Prefects of Wellawatte Saiva Mangaiyar Vidyalayam participated in a Cleaning Campaign of Coastal areas from Wellawatte Railway Station to Nelson Place recently....
Read more

Jaffna Commander of Security Forces pays homage at Naga Viharaya

Jaffna Commander of Security Forces Major General Senarath Bandara paid homage at Naga Viharaya recently. (adsbygoogle = window.adsbygoogle || []).push(); He...
Read more

Vanakkam23

© 2018 OMLANKA. All Rights Reserved.

Please publish modules in offcanvas position.