Wednesday, May 17, 2017

OMP Act should be activated soon: Sumanthiran

2017-05-17

In the wake of a petition submitted by the next of kin of those gone missing, MP M.A. Sumanthiran said today said his party would continue to urge the operation of the Office on Missing Persons (OMP) Act without further delay.

Addressing the next of kin, he said though the OMP Act was passed in parliament the government had failed to set up the OMP.

“The reason is because the Act needs to be brought under a ministry by the President as stated in the Constitution,” the MP said and added that the President had assured that the Act would be operational after incorporating the proposed amendments.

“We will no longer accept this as an excuse because the amendments can be made at anytime. That is no bar the Act being operational or bought under the purview of a particular ministry,” he said.

A copy of the letter was also submitted to the Prime Minister and the Ministry of Foreign Affairs.

Speaking on the matter Brito Fernando, a representative of the next of kin said the operation of the OMP Act was a step towards reconciliation.

“Despite its shortcomings, we see the Office on Missing Persons Act as an important first step towards revealing the truth about those gone missing, especially Tamil journalists, which has not been given due attention. We also extend our fullest support to the government to ensure that this Act is safeguarded,” he said.

Mr. Fernando said it was sad to note the lapse of eight months since the OMP Act was enacted in Parliament in August 2016, with no steps being taken to make it operational.

He said he hoped it would be operational before the international week of the disappeared.(Thilanka Kanakarathna)

Modi’s visit to the central hills brings welcome attention to a marginalised community

Featured image courtesy the Hindu

AYESHA ZUHAIR on 05/16/2017

Editor’s note: This is an edited version of an article which originally appeared in The Daily FT on 16 May 2017.

Last Friday (12 May) Sri Lankans living in the central hills lined its narrow streets to catch a glimpse of that Indian tea-seller who rose to become the Prime Minister of India. The crowd, comprising of Tamils of recent Indian origin, were visibly jubilant. They turned up, in the thousands to hear Narendra Modi speak at Norwood Grounds after the opening of a new hospital complex in Dickoya, built with Indian funds.

The euphoria and indeed affection was clearly palpable. It was a rousing welcome befitting a celebrity. The visiting Indian Premier, reacting to the warm reception, tweeted: “On the road in Sri Lanka… overwhelmed!”

On the road in Sri Lanka...overwhelmed! pic.twitter.com/0j7dZDk1op
— Narendra Modi (@narendramodi) May 12, 2017

Narendra Modi

✔@narendramodi

On the road in Sri Lanka...overwhelmed!

8:46 AM - 12 May 2017

It was Modi’s second visit to Sri Lanka since his election in 2014 as India’s Prime Minister, but more significantly, it was the first visit by an Indian leader to the central hills, where Up-country Tamils or Tamils of recent Indian origin are concentrated.

No other Indian leader has visited the hill country since indentured labour was brought from south India by the British colonial rulers (initially for coffee, and then for their tea and rubber plantations) in the 19th century.

In the past, Indian leaders have considered a visit to the North of the island as an essential part of their itinerary, their attention primarily focused on the Tamil community in the North and East of the island. This, of course, was induced by pressure from Tamil Nadu on the Indian central government to persuade Colombo to address the ethnic issue.

Though Modi’s visit was widely seen as an apolitical one, a handful of Sinhala nationalists were resentful. There was a call to hoist black flags in view of the Indian Prime Minister’s visit – a call that went totally unheeded by the vast, rational majority. Up-Country Tamils were also provocatively referred to as India’s ‘fifth column’ in Sri Lanka. But importantly, and beyond these misplaced fears, Narendra Modi’s visit turned the spotlight on a distinct community that has been largely neglected by successive governments in post-independence Sri Lanka.

With hardly any economic or political clout, the plantation community have lived for centuries in appalling, even sub-human conditions, in squalid plantation line-rooms. Their marginalised status was acknowledged in the National Action Plan (NAP) for the Social Development of the Plantation Community 2016-2020 formulated by the Ministry of Hill Country New Villages, Infrastructure and Community Development. With reference to the Household Income and Expenditure (HIES) reports of the Department of Census and Statistics (DCS), the NAP in its Executive Summary noted:

“The estate sector is the most deprived sector in terms of social development with poverty, education, health, nutrition, housing, safe drinking water, sanitation and women’s empowerment being areas of concern. Hence, from a national perspective there is a need to strongly focus on developing the plantation community to ensure that they are in par with the rural and urban sectors on MDGs [Millennium Development Goals] and SDGs [Sustainable Development Goals]. It is also understood that this community has not been integrated into the national health, education, housing and other service delivery systems of the government.”

The 2012/13 HIES/DCS poverty head count which measures the percentage of the population below the poverty line, showed a poverty headcount index of 6.7% (i.e. percentage of the population below the poverty line) at the national level. The highest poverty head count index was reported from the estate sector at 10.9%.

The HIES/DCS report further showed that 54.7% of the estate sector households were among the poorest 40% households in the country. The estate sector is therefore unique in terms of income disparity and still lags far behind in relation to the other sectors in the country.

In his address to the plantation community on Friday, India’s Prime Minister drew attention to the important (but often under-valued) role played by them in the production of tea thus highlighting their contribution to the country’s economy. In the presence of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, Modi struck an instant chord with his audience when he said:

“If Sri Lanka today is the third largest exporter of tea, it is because of your hard work. It is your labour of love which is instrumental in Sri Lanka meeting almost 17% of the world’s demand for tea, and earning more than 1.5 billion US dollars in foreign exchange. You are that indispensable backbone of the thriving Sri Lankan tea industry that justly prides itself on its success and global reach today.”

In real terms tea exports had been Sri Lanka’s number one earner of valuable foreign exchange since independence, until foreign employment brought it down to second place during the last three decades. There is no doubt that the estate sector workers are “the cogs in the large machine that is the tea industry of Sri Lanka,” as Amalini De Sayrah puts it in an excellent photo story for the Centre for Policy Alternatives (2015) entitled ‘Up-Country Tamils: the forgotten 4.2%’.

To this poorest section of Sri Lankan society, the Indian Prime Minister promised another 10,000 houses in addition to the 4,000 his country is already funding. Modi tweeted: “Glad that Sri Lanka’s Government is taking active steps for improving the living conditions of Tamil community of Indian origin”.

The Minster of Hill Country New Villages, Infrastructure and Community Development P. Digambaram told Al Jazeera from Dickoya on Friday, “India has a duty to look into our well-being because we are of Indian decent”.

His words stood in stark contrast to the sentiments expressed by retired Rear Admiral Sarath Weerasekara who told the media (Daily Mirror, Saturday 13 May) that focusing on one ethnic population could adversely affect reconciliation in the country. He claimed that the resources of a country had to be divided among its citizens equally and that Modi’s favouring one ethnic group over another was setting a bad example to the world and other ethnicities in the country.

Weerasekara’s comments are indeed surprising. Sri Lanka’s economy has benefited immensely from the contribution of the plantation Tamil community, yet they have not been compensated in due proportion. Weerasekaras regrettably never drew attention to the failure of successive governments over the past 70 years to ‘divide equally the country’s resources’ amongst all sections of the island’s population.

The Indian intervention to assist this neglected or exploited set of human beings by providing them their greatest need, decent housing with wash room facilities, though no great honour to Sri Lanka, is a laudable humanitarian act.

There is certainly a need to favour disadvantaged groups; they need recognition and special help to enjoy an equitable status on par with the other communities. It is an indictment on all of us that despite nearly seven decades of independence, the plantation sector remains an impoverished group far behind all others on all developmental indices. Had governments of yore discharged their responsibilities, we might not have been in a situation which necessitated Indian help today.

With baffling priorities like squandering millions on luxury vehicles to enrich the political elite, this can be hardly astonishing. It is difficult to question India’s interest in them when we have done so little to uplift this community for so long. If this government delivers on the promises in the National Plan of Action and addresses the needs of this marginalised community, they may not require such external assistance in the future and none need to imagine the cuddling of fifth columnists.

Readers who enjoyed this article might find “Plantation Community: a status revisit” and “The other side of Narendra Modi’s Sri Lanka visit” enlightening.

Purchase money paid to shadowy offshore company

Rajapaksa govt.’s controversial MiG deal – Part II

By C.A. Chandraprema-May 17, 2017, 9:15 pm

The other key question in relation to the purchase and overhaul of MiG aircraft in 2006 was that the payment had not been made to the supplier - the Ukrainian state owned company UKRINMASH, but to a front company by the name of Bellimisa Holdings Ltd. In 2000 when the Chandrika Kumaratunga government bought six MiG-27s and one MiG-23UB trainer, the supplier was DS Alliance of Singapore. However DS Alliance was a middleman and all the MiG aircraft purchased in 2000 were actually supplied by UKRINMASH the manufacturers of MiG planes in Ukraine. The policy of the Rajapaksa government was to eliminate the middleman so they directly approached UKRINMASH. In the ‘letter of offer’ handed over by UKRINMASH to the Ministry of Defence on 6 February 2006, it was specifically stated that this offer for the supply and overhaul of aircraft was being made in conjunction with a financier providing financing to the manufacturer and that the payment should be made to the financier.

Purchase money paid to shadowy offshore company.docx by Thavam Ratna on Scribd

SRI LANKA: Eleven year-old child tortured by his class teacher at Vidiyartha College Kandy

Hon. Sagala Ratnayaka, Minister of Law and Order-Mr. Pujith Jayasundara IGP-Mr. Jayantha Jayasooriya A G

17th May 2017

The Asian Human Rights Commission (AHRC) has received information from Mr. K M M G Sudath of No: 19/1, Watagoda Temple Road, Aruppola, Kandy, about maltreatment of his oldest son. His child was tortured and harassed by his class teacher. Though he lodged a complaint with the Police, they have not investigated these fundamental rights violations. Later, his father made a complaint to several Educational Authorities. However, no investigation has yet been initiated. Presently the boy is not attending school due to continued harassments. The parents of the child seek justice for him.

CASE NARRATIVE:

According to Sudath, his son (hereafter mentioned as ‘Child A’), is a student in grade 07 of Vidiyartha College Kandy. His younger brother is studying in grade 03 in the same school. Sudath is an entrepreneur who runs a small-scale business.

Child A’s class teacher, Ms. Himali Fernando, started harassing him because his parents were not in favor of the treasurer of the Parents’ Association. This parent held the position for many years without being held accountable.

On 16th February 2016, Child A, 11 years old, was assaulted by his class teacher with a CANE. She threatened to kill him if he said anything to his parents or any others about what was happening to him in her class. This beating was reported to the school Counselor. She was instrumental in covering up the incident and prevented the child from reporting it to the Principal.

However, the child’s mother noticed the scars on her child’s body while she was bathing him. The mother questioned the child about the scars. The child began to cry and spoke about the vindictiveness he suffered at the hands of his teacher. He specifically mentioned and identified the teacher by name. This entire incident was finally reported to the Principal. As a result, fearful? the class teacher Ms. Himali Fernando telephoned the child’s father and scolded him using filthy language.

His parents noticed that, with the continuing mental and physical harassment by the teacher, the child became discouraged in continuing his studies. He constantly expressed reluctance to attend school. After the Principal was informed about the harassments and the threats by the teacher, he did not take any positive measures to prevent this behavior in the future. No disciplinary action was taken against the teacher!

Finally, the parents decided to make a complaint to the Women & Child Bureau of the Kandy Headquarters Police Station. They lodged the complaint about the incident that took place on 16th February 2016, under reference W/CIB (2) 343/310. The parents of the child waited for the police authorities investigating the incident to take appropriate measures to provide justice for them. Needless to say, the complaint was neither investigated nor the accused warned. Instead, the police informed them that they were waiting for the Attorney General’s advice on how to proceed further with the case.

More than a month later, on the 30th March 2016, the Principal, Mr. Ranjith Rajapakse of Vidiyaratha College, called for a meeting of the School Development Board. All the parents also attended the meeting. In the meeting the Principal publicly accused the parents, of two students, who had complained to the police about a teacher. He said that the good name of the school was diminished. He specifically requested the parents to take some action against the parents of these two students. During his speech, he clearly referred to the names of Sudath, his wife and the names of their children as well. Both Sudath and his wife were present at the meeting and recorded the Principal’s entire speech. Sudath made a further complaint to the Kandy Headquarters Police Station on the incident and informed the police about future threats leveled at them and their children. The complaint was recorded by the police under reference ACFB (1) 209/59. However, as expected, this complaint has not yet been investigated.

Later, dissatisfied, the parents went to the Kandy Regional Human Rights Commission (HRC).

Their complaint was recorded, reference HRC/K/187/17-A. The HRC has not initiated any investigation into the incident as of this date. Sudath made several other complaints to the Kandy Regional Director of Education and the Secretary of the Provincial Educational Ministry. He was looking for justice after his children and his family’s rights were violated. He made a suggestion to the authorities that they at least provide an alternative school for their children to continue their education. None of the above-mentioned authorities have started an investigation into his complaints.

Child A passed the scholarship exam in year 5. He was a competent child, excellent in his pursuit of educational and extra-curricula activities in the school. However, after experiencing the violent, unlawful series of incidents in school, he was reluctant to return there to study. At present, both of Sudath’s children are at home and not attending any school as a result of the clear violation of their basic rights to continue with their education. The Authorities, the Police and the Educational Department have continued the rights violations of the children by not investigating the crimes committed by the teacher and the Principal of the school. Sudath stated that the educational authorities are collectively working to protect their fellow teacher and the Principal of the school. His appeal for an alternative school for his two boys was rejected as well.

The rights of two children and their family were violated by the Educational and Police Authorities. The family demands justice.

Please note that the Asian Human Rights Commission has also written a separate letter to the Chairman of the UN Child Rights Committee in this regard.

Stop pageants; find real solutions for dengue – Women for Rights

May 17, 2017

‘Women for Rights’ emphasized that the government should implement a long term practical programme in which all masses could participate instead of holding pageants on the pretext of eliminating dengue. This was stated at a press conference held by Women for Rights today (17th) morning.

The Asst. Secretary of ‘Women for Rights’ Attorney at Law Shanika Silva, Treasurer Kanthi Hettigoda, Executive Member Prabhashini were present.
The General Secretary of ‘Women for Rights’ Samanmali Gunasinghe speaking further said, “Dengue has terrorized the whole country. It has spread so widely even a person who suffers from ordinary fever is scared of having dengue.” She said 45,000 dengue patients have been recorded during the last five months and 115 of them have died.

She pointed out that the number of patients in 2014 was 33,000 and in 2015 it increased to 40,000. In 2016 the number of dengue patients increased to 64,000 and during the first 5 months of this year the number of patients recorded is 45,000. She said the numbers indicate the gravity of the issue.

Ms. Gunasinghe said naming a month or three months as a dengue eliminating period would not eradicate dengue from the island and said a long term programme should be adopted with an institute to carry out the programme. She said the public should be made aware of the preventing methods and the awareness programme should be carried out from pre-school level and should be implemented in schools, homes, villages and towns

She said a research center to carry out research regarding dengue related issues and the government should implement a programme to develop a biological control agent or a virus that would destroy dengue mosquito.

She pointed out there is congestion in government hospitals as two to three patients are put on each bed in wards. She said patients are even put under the beds and pointed out that the health minister of the government that doesn’t give the needed facilities for patients, runs to Singapore to get treatment even for a minor ailment.

‘Fight Cancer’ initiative launched in Maharagama Vision of transforming care experience of every cancer patient

2017-05-18

The ‘Fight Cancer’ initiative is an ambitious programme launched with the vision of transforming the care experience of every cancer patient treated at the National Cancer Institute (NCI) in Maharagama.
The initiative comprising 130 members continue to assist victims of the deadly disease in hopes of raising funds to develop the National Cancer Institute in Maharagama into a primary cancer care institute capable of comprehensive care for each and every patient that comes through its gates.

Cancer is a single word used to refer to over one hundred diverse diseases. With ever increasing studies and treatment methods on diseases that have no cure, the burden cancer poses on caregivers is certainly unimaginable. Being diagnosed with cancer will most certainly have an effect on the mentality of the patient and a more severe impact on caregivers including medical practitioners. The Fight Cancer initiative strives to assist such numerous burdened families as well as the very institute that cares for their ailing family members.

NCI is the leading hospital under the Ministry of Health dedicated to the diagnosis and follow-up treatment of cancer patients. It is the only such hospital in the island which offers both diagnostic facilities necessary for the identification of all types of cancer, and specialised care in surgery, chemotherapy and radiotherapy.

Their specialized consultants and a staff of over 1000 including nurses, pharmacists, medical physicists, laboratory technicians and minor workers provide healthcare services around the clock to the neediest of patients. Despite their dedicated services however, the hospital is overwhelmed with the increasing number of patients each year. Sources reveal that the number of patients who seek clinical care at the Maharagama hospital falls between 1000 to 1500 per day. While the hospital has a bed strength of 1500, it still struggles to afford treatment to all those who seek the immaculate care provided by the staff.

At the 139th meeting of the Fight Cancer team held this week, founder of Kadhijah Foundation M. S. H. Mohamed which spearheaded efforts to purchase a PET scanner for the hospital voiced the needs of the hospital.

“On March 4, 2015 the fundraiser to purchase the PET scanner for this hospital was launched. Rs. 200 million was raised within three months with over 7000 donors. The PET scanner was a dire need for the Maharagama hospital, as it was the only specialised hospital available to the public. The other cancer units spread around the country are only wards attached to bigger hospitals. Even with such dedicated services available here, there are many shortcomings in the hospital,” he said.
When questioned about the progress of the installation of the PET scanner, Mohammed said that all measures were underway to install the machine at the hospital premises. “We have raised Rs. 252 million which was more than the required amount. Because of this the members of our team were encouraged to carry forward with out fundraising efforts to help the hospital obtain more facilities,” he said.

“We have successfully raised enough funds to purchase one important machine for the hospital. Even though the process is delayed it is being implemented. The Ministry of Health initiated construction for a building to house the PET scanner. We expect that a bidder will be selected and we will receive the machine within three to four months,” he added.

According to Mohammed the hospital is also in need of a Magnetic Resonance Imaging (MRI) scanner instrumental in mapping out treatments once a cancer patient is diagnosed.
Doctors often rely on MRI scan imaging results to determine treatments, such as surgery or radiation therapy.

“The hospital currently does not have a MRI scanner. A single MRI scan can cost around Rs. 40,000 when performed at a private hospital. The other hospitals which possess scanners have waiting lists spanning for months. This is the sad reality for most cancer patients around the country. Therefore our next goal is to raise funds to purchase an MRI scanner for the Maharagama hospital,” Mohammed clarified.

The founder of the charity did not fail to mention that there were number of areas in the hospital that needs assistance. “The hospital is only equipped with a CT scanner which has been installed almost 15 years ago. It is outdated and it is only an analog scanner. Modern cancer treatment uses digital CT scanning facilities which are more precise. Therefore, we will also attempt to raise funds for a new CT scanner.” Among the group’s ambitious goals are the establishment of a genetic lab at the hospital and also to provide free lodging for the families of patients at the hospital. The Fight Cancer group insists that their compassionate journey of healing the victims of cancer will not stop and seeks assistance of generous donors to assist them in their noble efforts.

Sri Lanka backs India's concerns over China's OBOR project

May 17, 2017

Sri Lanka, which attended the just concluded Belt and Road Forum here, has backed India's concerns on "sovereignty and territorial integrity" over the OBOR project, saying it is difficult for New Delhi to accept the $50 billion China-Pakistan Economic Corridor (CPEC) as it goes through the "heart of Indian interests".

India, which skipped the high-profile meeting, would have joined "very happily" in the One Belt and One Road (OBOR) initiative of China, said Sarath Amanugama, Sri Lanka's Minister on Special Assignment.

"Unfortunately, the issue is going through the heart of Indian interests. If it was some uncontested region, India would have negotiated its way out. Here, especially the Kashmir issue getting dragged into it, makes it difficult for India to be flexible," Minister Amanugama said.

He said India, China and Sri Lanka were very much part of the ancient Silk Road route as the Chinese Buddhist scholars like Faxian visited both India and Sri Lanka leading to big discoveries of Buddhist relics in the island nation.

"(Chinese) President Xi Jinping has emphasised connectivity. These countries were connected many centuries ago. This will link up these countries on certain rational basis. Once the regional problems are resolved, then India has to play big role in the initiative," he said, adding, "India anyway has to play big role because you cannot think of a belt and road without going over and close to India."

India skipped the meeting due to its sovereignty concerns over the $50 billion CPEC, which goes through Pakistan- occupied Kashmir. The two-day conference in Beijing brought together leaders from 29 countries.

Besides Prime Minister Ranil Wickramasinghe, the summit was attended by Pakistan Prime Minister Nawaz Sharif, Russian President Vladimir Putin, Turkish President Recep Tayyip Erdogan and several other leaders, heads of UN, World Bank and IMF.

Source - Times of India

Financial literacy in Sri Lanka, its impact on personal finance and national economy

Thursday, 18 May 2017

Like any other festive season, during this year’s ‘Avurudu’ season commercial banks and credit card companies provided debit/credit card offers to their card holders. These offers were mainly attached to clothing, electronics, hotels, travel etc.

After a few weeks of the festive season, by now, you would have received the credit card statement with a payment due date. How many of you are stressed over paying the outstanding before the due date? How many of you incurred a penal interest cost which is higher than the discount you enjoyed at the time of purchasing? Or are you planning to cut down on this month’s expenses to settle the credit card bill? Sound familiar?

Lower financial literacy among the general public would have an adverse impact directly on credit card management, consumption choices and overall personal financial security. This article examines the level of financial literacy among Sir Lankans, the benefits of higher financial literacy to fuel economic growth and finally offers recommendations on how to enhance financial literacy among the general public.

What is financial literacy?

In general, financial literacy means a blend of knowledge, skill, attitude and behaviour required to make sound financial decisions and eventually realise individual financial security. It has been used to refer to knowledge of financial products (e.g. what is a saving account, fixed deposit; the difference between fixed and floating interest rates), knowledge of financial concepts (inflation, compounding, diversification, credit ratings) and mathematical skills required for effective financial decision making.

Modern marketplace offers numerous, complex and attractive personal financing deals (e.g. easy access to credit cards, auto loans, easy payment schemes). Thus, it is imperative for customers to be more conversant about these products. Basic financial literacy among households will lead to a healthier household welfare.

Financial literacy among Sri Lankans

As per the Standard & Poor’s 2014 global financial literacy survey, Sri Lanka has a higher financial literacy rate compared to its South Asian peers. This is not a surprising factor since Sri Lanka has one of the highest adult print literacy rates in the region.

However, it is noteworthy, the gap between print literacy and financial literacy. Sri Lanka has the highest gap between print literacy and financial literacy in the region. This indicates that there is more scope to promote financial literacy among Sri Lankans.

As per the survey on average, 65% of adults in the major advanced economies are financially literate. South Asia records the lowest percentage of financial literacy. This implies that financial literacy among citizens could propel the nation’s economic growth.

Source: Standard & Poor’s 2014 global financial literacy survey, CIA The world fact book

Impact on lower financial literacy Personal Finance

Effects of lower financial literacy are greatly magnified in the rural public and small-medium business community. When it comes to personal financing, some people poorly manage their credit cards. They take hefty discounts offered by financial institutions and expense beyond their disposable income. Eventually end up with penal interest. On the other side of the spectrum, there are people who would settle the credit card balance well before the due date, resulting in loss of interest income on their savings. Credit cards should be consumed wisely to earn benefits out of it.

When it comes to savings, people in rural areas still prefer Government banks over private banks despite Sri Lanka has a strong private banking and non-banking financial institutions. Lack of understanding about saving products and misconceptions keep people away from maximising returns on their surplus funds. One of the fundamentals of finance is the positive relationship between Risk and Return. There are opportunities where people could maximise the return by investing in assorted saving products of credible and reputed financial institutions.

Moreover, some people demonstrate lower knowledge of interest rate movements in the country. When it comes to housing loans, personal loans, one would opt for floating interest rates when interest rates are on an upward trajectory. It is imperative that customers do some homework based on their financial literacy prior to signing any documents.

Ageing population

Sri Lanka with an ageing population should dwell upon the financial well-being of senior citizens. This creates the demand for retirement plans, pension schemes, life insurance schemes, medical insurance schemes, etc. However, due to lack of knowledge in personal finance planning, inflation, insurance people do not patronage above products. Such behaviour might trigger financial insecurity after their retirement.

Risk diversification is another rarely practiced fundamental by many Sri Lankans. We have bitter experiences of collapsed private financial institutions. Despite that, some invest their entire savings only in a single high yielding product. Knowledge about diversification could have mitigated such credit risks.

SME sector

SME sector has already been identified as a key catalyst to drive the economic progress of Sri Lanka. There is an upward movement towards startup ventures and passion for entrepreneurship among the youth. However, it is essential for them to have a certain level of financial literacy in addition to their domain expertise. The primary objective in finance is shareholder wealth maximisation. Entrepreneurs should know how to create value in the business by optimising decisions on capital investments, working capital, borrowing, pricing, etc. Financial literacy will also protect rural businessmen from aggressive money lenders who may exploit the borrower’s lack of financial knowledge. There were profitable SMEs which later collapsed due to cash flow problems.

Impact of lower financial literacy on Sri Lankan economy

Sri Lanka has been experiencing a lower economic progress over decades due to several reasons. The writer believes that lower financial literacy among the general public is another reason for this situation. Most of the financial concepts that designated under personal financing, apply to the nation’s financial health as well. Government investment, borrowing, taxation policies are also driven by fundamentals of finance.

Due to lack of financial literacy, people did not question the viability of certain economic decisions made by present and former governments. Sri Lankan voters always focused to eradicate corruption and maximise subsidies granted by the Government. The writer considers that, the major destruction to the economy was caused not due to corruption, but due to erroneous economic decisions/policies implemented by politicians over decades. The cost of public finance mismanagement has already caused adverse implications for future generations as well.

Lack of financial literacy among Sri Lankan voters

General public should be aware of basic economic principles and the impact of Monetary and Fiscal policies. Majority anticipates government subsidies, salary increments, and duty waivers from the annual budget speech. Due to lack of financial literacy, voters tend to vote for the election manifesto which caters for those short sighted wish list, without assessing economic policies presented.

Sadly, majority of Sri Lankan voters suffer from economic illiteracy. After the election, ruling party attempts to satisfy short term promises at the expense of long term economic development. On that note, there are some similarities between the Voter and the Consumer, who is running behind seasonal credit card offers. Financially illiterate citizens will always get carried away with higher returns and neglect the risk element. Poor financial literacy among citizens is a blessing for most of the politicians ranging from central government to local administration bodies.

How to improve financial literacy in Sri Lanka

Government institutions such as the Central Bank of Sri Lanka, Colombo Stock Exchange, Public/Private Financial institutions and Professional accountancy bodies are carrying out knowledge sharing programs to various segments of the society. Which needs to be admired and they should amplify their efforts to elevate the financial literacy in Sri Lanka. Financial education should be a part of the good governance. It is important that financial education to be visibly distinguished from commercial advice.

The Organisation for Economic Co-operation and Development (OECD) has taken various initiatives to promote financial literacy in the world. There are some countries including India who has implemented a national strategy to improve financial education in the country. Countries with higher financial literacy commemorate a month called ‘Financial literacy month’ as well.

Financial education in to school core-curriculum

Sri Lanka has a well-established free education system compared to its regional peers. Thus we need to include subjects such as Personal Finance Management (savings, cash flow planning and investment), Basics of Macroeconomics (govt. tax income, GDP, public expenditure) and Consumer Education to school syllabus. As per the current structure, those who studied commerce for Ordinary Level and Advance Level would only get a feel of these breathing subjects.

Basics of personal finance and economics are required not only to commerce students, but also to entire student fraternity. Each citizen plays a role in the economy directly or indirectly. Therefore, all segments of the community, such as politicians, farmers, public and private servants, housewives, entrepreneurs, etc. should have financial literacy. Therefore, it is recommended to include these subjects as compulsory subjects from Grade 9 to 11.

Higher education programs, vocational training programs, should consist of short modules on personal finance in addition to their main field of study. Though we have English medium financial newspapers it is essential to have Sinhala and Tamil medium economic bulletins about local/global economic news. Financial literacy could be improved on the use of technology; it could be accelerated via computer and mobile.

The financially educated citizen could push politicians and financial institutions from their comfort zones, to create positive effects on both personal finance and overall economy.

(The writer is a member of the Chartered Institute of Management Accountants (UK) and member of the Institute of Chartered Accountants of Sri Lanka and holds B.Sc. Accounting (special) degree awarded by University of Sri Jayewardenepura. He also serves as a Senior Lecturer at the Mercury Institute of Management. He can be reached via manoshstar@gmail.com).

Tear gas used on IUSF protest against SAITM

By Yusuf Ariff-May 17, 2017

Police fired tear gas and water cannons to disperse the protesting university students near the Viharamahadevi Park in Colombo.

The protest march was organized by the Inter University Students’ Federation (IUSF) over several issues such as the private medical college in Malabe (SAITM) and curtailing student admission to universities.

Severe traffic congestion had been reported in Colombo as the protesters reached Union Place in Colombo. The Galle Face entry road was closed from Lotus Roundabout while the road from Ibbanwala Junction was also due to the agitation.

Heavy traffic was reported in and around those areas as a result of the road closure and protest march.

Earlier today, the Colombo Magistrate’s Court turned down a request made by police to issue a stay order preventing the protest.

Should MPs with dual citizenship be allowed to remain in politics?

2017-05-18

The Court of Appeal earlier this month ruled that United People’s Freedom Alliance (UPFA) Galle District MP Geetha Kumarasinghe cannot hold a Parliamentary post as she is a dual citizenship holder. An undefied Geetha Kumarasinghe subsequently filed an appeal at the Supreme Court challenging the verdict of the Court of Appeal. The actress turned politician, who was elected to Parliament in August 2015 was unseated, as the Appeal Court held that M/s Kumarasinghe was not qualified to contest the August 2015 parliamentary elections because at the time she held dual citizenship, violating provisions of the 19th amendment to the Constitution. According to Article 92 (b) and Clause 20 (4) of the 19th Amendment, and Article 91(1)(d)(xiii) of the Constitution, perso

ns who are dual citizens are disqualified from being elected as Members of Parliament or the President of the Republic. The Constitution specifies that - “No person shall be qualified to be elected as a Member of Parliament or to sit and vote in Parliament if;(d) (xiii) “a citizen of Sri Lanka who is also a citizen of any other country” Following the announcement of the Appeal Court decision, Secretary General of Parliament informed the Elections Commission that Kumarasinghe had been removed from her post as a parliamentarian from the Galle District in line with the Court of Appeal verdict. However, the Supreme Court has temporarily stayed the Appeal Court order against her, thus allowing her to continue her in post as an MP. The Supreme Court hearing is to be resumed on September 25. As the dual citizenship of politicians has become one of the hot topics, the Daily Mirror tried to contact a number of politicians including ministers in the current government and MPs from the Opposition who enjoyed dual citizenship to find out what their stance say on the issue. Some of the politicians are of the view that the court ruling must be applicable to all members of parliament who are allegedly in possession of dual citizenship.

“It is immoral for a politician to be a dual citizen,”

- Mahinda Samarasinghe UPFA MP

Skills Development and Vocational Training Minister Mahinda Samaraweera said he personally believed that it’s immoral for a politician to be a dual citizen because a person has to pledge to uphold the Constitution of another country. The Minister said this when he was questioned by the journalists at a recent press conference whether he held dual citizenship.

Minister Samarasinghe said he was one of Sri Lankan legislators who continued to defend the country at UNHRC sessions in Geneva by opposing the stance taken on Sri Lanka by other countries including the US.

“If I was a citizen of such a country, how could I have protected Sri Lanka? How can I raise my voice against those countries? I was able to function independently because I had no dual citizenship. I’m 61 years old now and never in my life have thought of applying for dual-citizenship,” the minister said.

“Instructed the Immigration Department to compile the list of MPs with dual citizenship”

- S.B. Nawinne, Minister of Internal Affairs

The Daily Mirror spoke to Internal Affairs Minister, S.B. Nawinne with regard to a request made to release the list of MPs with dual citizenship. The minister said that he has instructed the Department of Immigration and Emigration to compile a list of MPs with dual citizenship. “We have not launched an investigation. There was talk among parliamentarians that some of the MPs were dual citizens. In the meantime the Department of Immigration and Emigration had received a request for a list of names of parliamentarians who were dual citizens. Accordingly, I have instructed the relevant officials to compile the list and respond to the request,” the Minister clarified.

It is reported that Pivithuru Hela Urumaya (PHU) General Secretary MP Udaya Gammanpila has submitted a request to the Department of Immigration and Emigration for a list of names confirming as to which parliamentarians were dual citizens.

“We have applied for termination of Kumar Gunaratnam’s Australian citizenship in order to gain Sri Lanka’s citizenship,”

-Duminda Nagamuwa - Politburo Member FSP

Politburo Member of the Frontline Socialist Party (FSP) Duminda Nagamuwa said, at the end of the day, the focus should be made on the nature of the politic of the legislator and not their citizenship. He said the reasons to apply for dual-citizenship could be varied on different grounds but regardless, the fact of dual citizenship should not become a barrier for someone to engage in politics following their self-conscience.

“If a politician from the left camp applies for dual citizenship of another country, that’s usually because he or she can’t engage in politics in his home country. Dr. N.M. Perera left for India and engaged in left politics there. However, if a politician from the capitalist camp applies for dual-citizenship, it’s mostly for personal privileges. What matters is the nature of politics,” he said. He also didn’t forget to mention that they were against invasive policies of some of the foreign embassies in Colombo.

Commenting on the matter pertaining to politburo member of FSP Kumar Gunaratnam, who was sentenced to one year’s imprisonment for violating visa regulations by the Kegalle Magistrate on March 31, 2016 and released on December 02, 2016, Nagamuwa clarified Gunaratnam was not a dual citizenship holder.

“He held the citizenship of Australia. We have applied for termination of that citizenship in order to gain Sri Lanka’s citizenship,” he said.

Politicians with dual citizenship should not conceal who they are:

- Dullas Alahapperuma UPFA MP

Matara District UPFA MP Dullas Alahapperuma also the National Organiser of the Joint Opposition, said if a dual citizen MP conceals the fact that he or she is a dual citizen it is a violation of the Constitution.

The MP stated if the Constitution says that a dual-citizens cannot contest the General Elections and become an MP, any such person shouldn’t conceal the fact that he or she is in fact dual citizen. “If anyone is doing that, it is an act against the State. There is no issue in taking action against them,” he said.