The Investor Sentiment - Equity and investments forum for Sri Lankans

Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to if you face any technical difficulties when posting
Display results as :
Advanced Search
Latest topics
CCS.N0000 ( Ceylon Cold Stores)Wed Mar 20, 2024 11:31 amHawk Eye
When Will It Be Safe To Invest In The Stock Market Again?Wed Apr 19, 2023 6:41 amකිත්සිරි ද සිල්වා
Dividend AnnouncementsWed Apr 12, 2023 5:41 pmකිත්සිරි ද සිල්වා
MAINTENANCE NOTICE / නඩත්තු දැනුම්දීමThu Apr 06, 2023 3:18 pmකිත්සිරි ද සිල්වා
SEYB.N0000 (Seylan Bank PLC)Thu Mar 30, 2023 9:25 amyellow knife
The Korean Way !Wed Mar 29, 2023 7:09 amකිත්සිරි ද සිල්වා
In the Meantime Within Our Shores! Mon Mar 27, 2023 5:51 pmකිත්සිරි ද සිල්වා
What is Known as Dementia?Fri Mar 24, 2023 10:09 amකිත්සිරි ද සිල්වා
SRI LANKA TELECOM PLC (SLTL.N0000)Mon Mar 20, 2023 5:18 pmකිත්සිරි ද සිල්වා
THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)Mon Mar 20, 2023 5:10 pmකිත්සිරි ද සිල්වා
Equinox ( වසන්ත විෂුවය ) !Mon Mar 20, 2023 4:28 pmකිත්සිරි ද සිල්වා
COMB.N0000 (Commercial Bank of Ceylon PLC)Sun Mar 19, 2023 4:11 pmකිත්සිරි ද සිල්වා
REXP.N0000 (Richard Pieris Exports PLC)Sun Mar 19, 2023 4:02 pmකිත්සිරි ද සිල්වා
RICH.N0000 (Richard Pieris and Company PLC)Sun Mar 19, 2023 3:53 pmකිත්සිරි ද සිල්වා
Do You Have Computer Vision Syndrome?Sat Mar 18, 2023 7:36 amකිත්සිරි ද සිල්වා
LAXAPANA BATTERIES PLC (LITE.N0000)Thu Mar 16, 2023 11:23 amකිත්සිරි ද සිල්වා
What a Bank Run ?Wed Mar 15, 2023 5:33 pmකිත්සිරි ද සිල්වා
104 Technical trading experiments by HUNTERWed Mar 15, 2023 4:27 pmkatesmith1304
GLAS.N0000 (Piramal Glass Ceylon PLC)Wed Mar 15, 2023 7:45 amකිත්සිරි ද සිල්වා
Cboe Volatility Index Tue Mar 14, 2023 5:32 pmකිත්සිරි ද සිල්වා
AHPL.N0000Sun Mar 12, 2023 4:46 pmකිත්සිරි ද සිල්වා
TJL.N0000 (Tee Jey Lanka PLC.)Sun Mar 12, 2023 4:43 pmකිත්සිරි ද සිල්වා
CTBL.N0000 ( CEYLON TEA BROKERS PLC)Sun Mar 12, 2023 4:41 pmකිත්සිරි ද සිල්වා
COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))Fri Mar 10, 2023 4:43 pmyellow knife
Bitcoin and Cryptocurrency Fri Mar 10, 2023 1:47 pmකිත්සිරි ද සිල්වා
CSD.N0000 (Seylan Developments PLC)Fri Mar 10, 2023 10:38 amyellow knife
PLC.N0000 (People's Leasing and Finance PLC) Thu Mar 09, 2023 8:02 amකිත්සිරි ද සිල්වා
Bakery Products ?Wed Mar 08, 2023 5:30 pmකිත්සිරි ද සිල්වා
NTB.N0000 (Nations Trust Bank PLC)Sun Mar 05, 2023 7:24 amකිත්සිරි ද සිල්වා
Going South Sat Mar 04, 2023 10:47 amකිත්සිරි ද සිල්වා
When Seagulls Follow the TrawlerThu Mar 02, 2023 10:22 amකිත්සිරි ද සිල්වා
Re-activatingSat Feb 25, 2023 5:12 pmකිත්සිරි ද සිල්වා
SAMP.N0000 (Sampath Bank PLC)Wed Nov 30, 2022 8:24 amකිත්සිරි ද සිල්වා
APLA.N0000 (ACL Plastics PLC)Fri Nov 18, 2022 7:49 amකිත්සිරි ද සිල්වා
Banks, Finance & Insurance Sector ChartTue Nov 15, 2022 5:26 pmකිත්සිරි ද සිල්වා
VPEL.N0000 (Vallibel Power Erathna PLC)Sun Nov 13, 2022 12:15 pmකිත්සිරි ද සිල්වා
WATA - WatawalaSat Nov 05, 2022 8:44 amකිත්සිරි ද සිල්වා
KFP.N0000(Keels Food Products PLC)Sat Nov 05, 2022 8:42 amකිත්සිරි ද සිල්වා
Capital Trust Broker in difficulty?Fri Oct 21, 2022 5:25 pmකිත්සිරි ද සිල්වා
IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?Thu Oct 20, 2022 10:13 amකිත්සිරි ද සිල්වා
What Industry Would You Choose to Focus?Tue Oct 11, 2022 6:39 pmකිත්සිරි ද සිල්වා
Should I Stick Around, or Should I Follow Others' Lead?Tue Oct 11, 2022 9:07 amකිත්සිරි ද සිල්වා
DV-2024 Program: Online RegistrationThu Oct 06, 2022 11:26 amකිත්සිරි ද සිල්වා

Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
The Invisible
The Invisible
Posts : 3116
Join date : 2016-11-28
Age : 44

Sri Lanka needs real ministers, a real cabinet and a Prime Minister to play monitor Empty Sri Lanka needs real ministers, a real cabinet and a Prime Minister to play monitor

Mon Apr 23, 2018 10:07 am
Message reputation : 100% (2 votes)
ECONOMYNEXT - Corruption in Sri Lanka's governments is partly due to the lack of an independent public service and permanent secretaries, but also due to the structure of administration where the Prime Minister of President holds key portfolios.

Sri Lanka's current administration with Prime Minister Wickremesinghe under fire for corruption in the central bank which is part of his portfolio, and for the auctions of a dubious gatekeeping committee under him, is a textbook example of how not to run a government.

Class Monitor

In the well-functioning government of a free country in Western Europe such as Britain, the Prime Minister has no significant portfolio. The UK prime minister overseas the civil service, which is an independent service anyway.

In such a government a minister of finance is a 'real' minister who is responsible for the Treasury. So are other ministers.

If there is wrongdoing the Prime Minister has to play the role of monitor and take action.

This is a kind of check against corruption that exists in free countries that Sri Lanka no longer has.

Even discounting the fact that there is a President who is the head of the cabinet and a Prime Minister with significant powers in the current coalition administration, the Prime Minister did not take action in the bondscam case when his personal appointee was involved in corruption.

Though there is no excuse for not taking action and bad leadership, it could have been different if the central bank had been under someone else.

The appointment of the Finance Minister in 2015 was the first big mistake of the administration, but it could not have been corrected by taking some institutions away.


The President however did take action, playing the role of the monitor. However the President is also under a cloud over a ship deal for the Navy, and allocating frequencies from the telecom regulatory authority, which is under him.

The regulator should have been under the telecom ministry.

Many of Sri Lanka's current economic troubles date back to the 2015 and 2016 budgets. They also allowed the President to interfere in economic decision-making further undermining the role of the Finance Minister, even after a new minister was appointed, who made good decisions.

It was Chandrika Kumaratunga who first put the Finance Portfolio under the President, making a top bureaucrat the effective finance minister. That is no way to run a government. Without permanent secretaries, such people are no longer available in any case.

President Mahinda Rajapaska had several portfolios including Finance and top spending highways and the telecom regulator, petroleum and even oil exploration under him, giving enormous powers to a presidency that already had excessive powers in the first place.

Such a structure tends undermine freedoms of the citizens in addition to fostering corruption.

Kitchen Cabinet

Prime Minister Wickremesinghe is also under fire for the actions of the Cabinet Committee on Economic Affairs (CCEB), which is a body made up of ex-bureaucrats loyal to him and some others.

It effectively serves as a gatekeeper to vet and block projects. Others say once an initiative goes to the committee, various power bases within the government tries to extract rents or push their interests.

As a result critics say the CCEM has become a body which tend to foster corruption.

The next big looming controversy in this regard may be the 'take-or-pay' liquid natural gas deal that is on line.

Ideally any policy gatekeeping should take place in the cabinet, where the Prime Minister could object to any project or initiative which was not in accordance with overall policy. No CCEM is needed.

Sri Lanka's last real cabinet was probably under President J R Jayawardene. Now there are so many ministers that the cabinet is virtually useless as a policy making and governing body.

As a result a kind of 'kitchen cabinet' was operating both during President Kumaratunga's time and President Rajapaksa's time, which dangerous for freedom. Nobody is accountable for such decisions and the cabinet becomes a rubber stamp.

Public Service

The lack of an independent public service, with permanent secretaries is a key cog in the wheel of corruption.

When Sri Lanka got independence the ministry secretary was permanent. The ministries were also permeant. But the 1972 Republican constitution broke the civil service with the cabinet appointing outsiders as ministry secretaries, which started the rot.

Under the system inherited from the British a civil service commission appointed, transferred or took disciplinary action against secretaries.

The 1979 constitution completed the task by making President the sole authority in these matters. The system survived for a time, because men who from the earlier system were in service.

As a result any secretary who questioned a bad decision of a minister that undermined freedom and equality (a politically biased or revengeful move) or a corrupt decision would be sent to the 'pool'.

The current administration before its term ends should at least bring law to make the Constitutional Council responsible for ministry secretary appointments. That was one of the good deeds of the current administration, though much weakened that originally expected.

This will enhance freedoms of the people and reduce corruption.

Police State

The Yahapalana administration had also laid the foundation for a police state by bringing an electronic ID card law (E-Nic) where the Defence Secretary can monitor private citizens without a court order.

The E-Nic law should be rolled back or amended forthwith.

In free countries most freedoms were brought in by civil society organizations.

In the UK free trade was brought by the Anti-Corn Law League, probably the originally effective NGO or civil society organization.

Slavery was abolished worldwide including Sri Lanka by the actions of the Abolition Society and Africa Society.

The administration has also brought draft law to control civil society organizations (Voluntary Social Services Organizations Act) that can foster freedom and move action against corruption. The VSSO Act along with the E-NIC law will further advance a police state.

By controlling civil society organizations, voices of the people, particularly those who are apolitical will also strengthen the state against the people.

It must be noted that Hitler closed down all NGOs and civil society organizations, except the Catholic Lutheran Churches and they were also severely controlled.

In Sri Lanka constitution, the cabinet, is already stacked against the freedom of the people and their economic progress, while promoting corruption.

The central bank which generates inflation and depreciates a currency which is de facto pegged, is also staked against the people.

By muzzling civil society organizations this administration will also kill the voices that can advance economic or civil freedoms and reduce corruption.
Posts : 518
Join date : 2014-03-04

Sri Lanka needs real ministers, a real cabinet and a Prime Minister to play monitor Empty Re: Sri Lanka needs real ministers, a real cabinet and a Prime Minister to play monitor

Tue Apr 24, 2018 7:27 am
Sri Lanka needs real citizens too, not donkeysss..
Back to top
Permissions in this forum:
You cannot reply to topics in this forum