“MAHINDA CAUSED MASSIVE LOSSES FOR PORTS”- MINISTER ARJUNA RANATUNGA
Posted on July 23rd, 2015

By M D P DISSANAYAKE

It was a comical appointment of making Mr Arjuna Ranatunga as the Minister for Ports and Shipping by Mr Ranil Wickremasinghe.  He has complained that the former President has caused massive losses for the Port.

We have few questions to ask Minister Arjuna Ranatunga, they are:

  1. Do you understand the difference between Profits and Losses?
  2. Do you understand the difference between the Cash Flow Surplus and Deficit?
  3. Do you understand why a business can make a Profit, yet it would have a Bank Overdraft?
  4. Do you understand why a business a can make Losses, yet it would have have a blue balance ( positive balance) in its Bank Accounts?
  5. Are you able to understand the difference between Group Consolidated Financial Reports and Financial Reports of each entity within the Group?

We ask these question due to several valid reasons.   After becoming the Minister for Port, you have tried to study these reports.   You were very annoyed to notice that some entities within the Port Group had Profits, but Bank Statements showed Overdrafts.   You were similarly annoyed that some entities within the Port Group had made Losses, yet Bank Statements showed Blue Balances.

You did not waste anytime to show the Port Financial Management Team that they have made some massive errors in the preparation of Financial Reports.   You called for a Management Meeting of all key Financial Management Team Members of the Ports Authority.  You will remember asking them , ” Why Hambanthota Port  had positive bank balances, yet made losses” .The key Finance Management stakeholders were shocked  by your question, but were  unable to explain the reasons.   Perhaps the participants were reluctant to cause an embarrassment to the Honourable Minister.

One of his sympathisers in the team, explained the reasons to the Hon. Minister at the conclusion of the Meeting.

Minister Arjuna Ranatunga then complained in public that  financial reports of various projects under his control cannot be analysed due to lack of information.  According to the statement made by him in public, he was planning to set up a new system so that each Project will have its own financial reports to measure the performances.

Separate Financial Reports had always been the norm at Sri Lanka Ports for the past several decades.  The problem was with the Minister’s inability to read and understand the reports.

Mr Arjuna Ranatunga had a lucky draw of joining Ananda College, where his mother was a Teacher.  However, academic brilliance was not his strength, barely managed to pass  the G C  E  (Ordinary Level) after two attempts.  Even if you have not academically qualified, as a Minister you should listen to your advisers and learn from them.

“You can blame people and situations for your misery, hunger, deprivation and illness, but you are the only person can be blamed for your illiteracy.”
― M.F. MoonzajerLOVE, HATRED AND MADNESS

6 Responses to ““MAHINDA CAUSED MASSIVE LOSSES FOR PORTS”- MINISTER ARJUNA RANATUNGA”

  1. Ananda-USA Says:

    I have ONLY ONE REPLY to Arjuna Ranatunga ….. BULL SHIT!

    Arjuna … STICK to what you know …. CRICKET …. and SAVE your REPUTATION among your countrymen without AIDING & ABETTING their DESTRUCTION!

    You will GAIN NOTHING by SUCKING UPTO the UnPatritic Non-National Party! NOTHING! NADA! ZILCH! ZERO!

  2. Chancy Says:

    But, does he really know about cricket? Or is it just a myth!

  3. Lorenzo Says:

    Arjuna has NO BRAINS. He is just making political statements to please his UNP MASTERS.

    He cannot even control his food and other desires!!

    Glad we did NOT win the world cup this time!! Otherwise few more clowns will be doing UNP politics.

  4. Sarath W Says:

    As a cricketer and the captain of the sri Lankan cricket team I admired him a lot, especially the way he stood up for Murali. But does he have and valid academic qualifications or the intelligence to be a minister? Obviously Ranil is using him to do the dirty work as no one believes Ranil any more as he has made so many false accusations against Rajapaksas. Sad to see him taking the bait and making a fool of himself.

  5. crobe Says:

    Sarath,
    Arjuna doesnt need any bait to look a fool. Just this past week, he chaired a political meeting/briefing alongside Dr. Mervyn Silva(yes, that doctor). Who in his right mind would want to be seen on the same stage with Mervyn? Only a fool, right?
    Especially considering that they are touting an anti corruption platform.

    Talking of corruption, Arjuna’s younger brother Nishantha of Cricket SL is as corrupt as they get. Arjuna has never said a word denouncing his corrupt brother, ever.

    I wish one of the readers here could put out a list of all the MP’s who have barely a high school education. Would be interesting reading.

  6. NAK Says:

    Wonder being portly a qualification to become the minister of ports !!

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