Neocolonialism: How it  is conquering our country today.
Posted on August 8th, 2015

By Garvin Karunaratne

It is important to note that forces of neo-colonialism are ably conquering our country today. The IMF, an agent of Neocolonialism did make our country indebted by forcing the FreeMarket NeoLiberal  Economic Model in 1977. Our inept leaders are furthering this model by selling everything in our country to foreigners and today we are at the cross roads.

The following statement by no less a person than Professor Jeffery Sachs is an eye-opener and indicates the forebodings of Neocolonialism for Sri Lanka today:

There have long been two faces of US foreign policy since the United States became a great global power after World War II. US foreign policy has veered between the visionary cooperation of Kennedy’s Partial Test Ban Treaty and the reckless unilateralism of the CIA sponsored invasion of Cuba that preceded it….. Notorious acts of US unilateralism include the CIA-led overthrows of several governments (Iran, Guyana, Guatemala, South Vietnam and Chile), the assassination of countless foreign officials and several disastrous unilateral acts of war (in Central America, Vietnam, Cambodia, Laos and Iraq). The US has thrown elections through secret CIA financing, put foreign leaders on CIA payrolls and supported violent leaders who then came back to haunt the United States in a notorious boomerang or ‘blowback’ effect (including Saddan Hussein and Osama Bin Laden, both once on the CIA payroll”. (From Jeffery Sachs: Commonwealth Economics for a Crowded Planet, Allen lane, 2008).

Porofessor Jeffery Sachs’ above statement has to be read with John Perkins’ book: Confessions of an Economic Hitman, where he admits that he wrote development projects for foreign funding, with bogus statistics, which when implemented led to a situation where the projects fails, with the funds getting back to the donor country (through consultancies, machinery costs, imports etc.) while the country is saddled with the debt. In other words it was a method of making the country indebted so that it would forever be under the thumb of the IMF and the Superpowers. Perkins was so disgusted of what he had done so he confesses in his book.

Sri Lanka was not an indebted country in 1977. Its foreign debt was only $ 750 million, which too was on project development, as opposed to loans taken for consumption. The IMF had till then given loans on a very strict basis. The IMF relaxed the criteria allowing countries that adopted the SAP to draw money for lavish spending and run deficit budgets, when there was no money. President Jayawardena capitulated to the IMF and followed the rulings of the IMF and  the IMF led these countries on the path of ruination.

Under the UNP of President Jayawardena  foreign funds obtained were used to fund the demand created by the liberal use of foreign exchange and the incoming funds have been used for imports, foreign holidays and foreign education.  Earlier our foreign exchange was carefully utilized and we managed to keep ourselves afloat without falling into debt. From 1977 we squandered the incoming borrowed funds for luxury imports and luxury living and in that process we became an indebted nation. We can justify foreign loans being used to purchase arms and weaponry to defeat the LTTE.  Today we have come to a point where we have to borrow further to service our loans. In that predicament we get further and further into debt.

What is the way ahead. We have to use foreign loans in the interests of our country and not for luxury living. The use of foreign loans recently for the building of the Hambantota Harbour , the Mattala Airport  and the Highways are developmental and this offers the way for the future . This is the infrastructure necessary for development. However one has to develop projects in those areas to create incomes for the people using the infrastructure that has already been put in place.

It is a time when we have to act carefully; otherwise we will get conquered by the Superpowers and become their colonies once again.

Garvin Karunaratne , 8 th August 2015

8 Responses to “Neocolonialism: How it  is conquering our country today.”

  1. Christie Says:

    Gavin, go for a walk in Pettah dear. Real colonialism.

  2. Christie Says:

    Yasmin Sooka an Indian colonial parasite from South Africa has released a report as repotted by Sunday Leader headed by another Indian colonial parasite in Sri Lanka. A friend of mine has put a comment on the Sunday Leader but it may not be published by them.

    Be aware of what Indian Empire is up to.

  3. sarathk Says:

    නව යටත් විජිතවාදය අවසන් කිරීමට ඇත්තවශයෙන්ම අවශ්‍යනම් සිංහලෙන් ලියන්න පටන් ගනිල්ලා .

  4. Fran Diaz Says:

    Yes, it is the Colombian Neo-Colonised who imitate the economic crooks from abroad, mainly the west. They are ones who bring down the economy of the country and crash the country.

    Take a look at the Golden Key Ponzie style investment scam, imported from USA. Lanka investors fell for it, hook, line and sinker.
    Lesson Learnt : Read up on what is going on the foreign countries re investments/money market, before handing over hard earned savings to investment companies.

    Former GK directors to repossess personal assets worth Rs. 3bn
    With termination of FR case

    August 8, 2015, 7:40 pm – ISLAND

    by Suresh Perera

    The termination of the Golden Key (GK) Fundamental Rights plea in the Supreme Court (SC) last week will clear the way for the former directors of this Ceylinco subsidiary to seek repossession of their identified personal assets worth around Rs. 3 billion, officials said.

    In the backdrop of the government’s intervention to refund 41% of the holdings of depositors, the SC decided to end proceedings and treat the case as ‘closed’. The repayment formula was also submitted to court by Viraj Dayaratne, Deputy Solicitor General on behalf of the Attorney General’s Department.

    The long list of personal assets and properties detailed by Lalith Kotelawala include super luxury apartments, three floors in the Ceylinco Limited building, S&L Company and his upmarket residence at Elibank Road, Colombo 5, the officials said.

    The personal assets of Kotelawala and the other eight ex GK directors, Mrs. Sicille Kotelawala, Kavan Perera, Saradha Sumanasekera, Suramya Karunaratne, Mrs. Padmini Karunanayake, Daniel Jegasothy, Bandula Ranaweera and Neranjan Fernando, were acquired on judicial directives in the FR action filed by 29 depositors on March 17, 2009.

    The former directors have already filed motions in the SC seeking the release of their assets for repossession, the officials asserted.

    It was not immediately clear whether the termination of the court action will also ensure safe passage for Mrs. Sicille Kotelawala to return to Sri Lanka. She left the country shortly after the company collapsed in December 2008 and is presumably living in the United Kingdom, they said.

    Kotelawala and the other directors were on remand at the time over the GK scam and a judicial warrant was issued for the arrest of Sicille. A criminal action against the former directors is still pending before the Colombo High Court.

    “While depositors have lost 59% of their hard-earned savings after a seven-year wait, those who steered GK towards disaster will be well off with their assets given back to them intact”, protested Dushanthi Hapugoda, president, All GKCC Depositors’ Association.

    At the end of the day, those who devoured Rs. 26 billion are ‘fortunate’ to be able to reclaim their wealth in the backdrop of many depositors committing suicide in desperation, many others reduced to paupers and, in the overall picture, 59% of the holdings denied to investors, she noted.

    During last week’s hearing, counsel for depositors sought two days’ time to study the repayment plan, which had been just handed over to them, but the bench headed by Chief Justice K. Sripavan ruled it out saying that reimbursements have already begun with the government stepping in to grant relief, Hapugoda said.

    The newly-constituted GK board will stand down and in terms of a SC directive, two new directors will be appointed by the Treasury, while the incumbent Chairman and CEO will continue to hold office.

    “As the Treasury has so far transferred funds only to cover the first round to settle 41% of holdings up to Rs. 1 million, we were optimistic that the FR action could be continued at least until the completion of a major part of the repayment cycle as a safeguard against any possible impediments”, she observed. “But that was not to be as the case was terminated”.

    According to the repayment module, an investor with a Rs. 1 million holding will receive a final settlement of Rs. 110,000 i.e. Rs. 1 million x 41% = Rs. 410,000 – Rs. 300,000 repaid earlier = Rs. 110,000.

    “Without a court case to fall back on, we will be pushed to the wall if the total funding pledged by the government fails to materialize in time to come”, she pointed out. “After an election the tune can possibly change”.

    Rs. 3.8 billion will be required to reimburse deposits up to Rs. 10 million under the second phase scheduled to begin by August 24.

    “Some depositors are blaming me for these developments”, Hapugoda continued.”It’s true that I served as a director of the former reconstituted board, but these happenings are beyond us”.

    Prior to the dissolution of the GK board, Hapugoda wrote to the other directors saying that she had made repeated requests from the Chairman to call for a board meeting to discuss certain alleged malpractices concerning the company’s CEO. But, no approval was granted.

    In an email to the directors, a copy of which was sent to The Sunday Island, she says “According to my knowledge, I think the Chairman supports the CEO. For example, the CEO’s personal files/documents were destroyed by the Chairman, there is a fraud in vehicle allowances and the  GKCCL audit report was edited.

    “The directors’ board meeting was recorded using the CEO’S mobile phone without permission. There are many more unethical things done so far. I have spoken to chairman many times regarding these matters, but it of no avail. I am disappointed by the behavior of the Chairman.

    “As the president of a key depositors’ association, it was a difficult task to bring this company to what it is today. The sad part is that no matter how much effort I made in the past, the depositors weren’t benefited in the end”.

  5. Cerberus Says:

    Garvin,
    You are right. However our leaders became used to extravagant living. There are more Mercedes Benz cars, SUVs, etc in Colombo than in most countries. One reason is in Colombo all the people compete with each other to be one up. This is a small country mentality. One important thing I wish to point out is that Ranil W privatized a lot of State run Corporations. Many of them were bought by companies who just ran through the assets and then dumped the companies. Good example is Sevanagala Sugar Factory. President Mahinda Rajapaksa took them back to State Control and revived them. Ranil privatised 1666 State organizations and MR took back 924 organizations. We have to realize that for National Security we must keep all the major corporations under state control. If we privatize as IMF requests then the Tamil Diaspora and the Tamil tycoons in Tamil Nadu can just buy up the economy and control everything to suit them. We will lose control over over our country. Ranil does not understand these simple ideas. Critical areas such as Energy, Water, Agriculture, and Telecommunications must be in the hands of the Government. Ranil is trying to hand over the internet to Google who will collect all the information and sell it.

    Here is a quote from JC Ahangama “Sri Lanka is a small island that can have one wireless canopy covering the entire island. That can be built by the government cheaply and fed from one or several Internet connections from sources such as the traditional international telephone connections and satellite feeds. Only thing that ICTA should do is to do this in open fashion that it never did since its inception. Actually, ICTA’s original mandate was only for 5 years. The tradition in Lanka is to forget when to kill white elephants, like the grand dictionary projects it started, for example. Our going to Google first puts the country into a situation of compromised security giving the company the ability to store all data including telephone conversations. That is their main stay of business: collecting data and selling. This deal must be cancelled in the interest of the nations independence.”

    I agree with Ahangama’s statement.

  6. Cerberus Says:

    When I refer to Google above I am referring to the Google Baloon that Ranil W has agreed to have over Sri Lanka to provide internet for the Island. On the surface it looks harmless. But as JC Ahangama has pointed out it is a deadly threat.

  7. Ananda-USA Says:

    To the ALWAYS FAITHFUL Patriots,

    A Heartfelt Tribute in Gratitude!

    Semper Fidelis, Patriots of Lanka

    By Ananda-USA

    Our Motherland, resplendent Sri Lanka,
    Hallowed be thy name!
    Thy children flock today to vote,
    To preserve thy immortal flame!

    The Lion Flag flutters proudly aloft,
    To remind us this freedom’s day!
    Our duty to keep thee, safe and strong,
    As our forefathers did yesterday!

    A Mahinda Rajapaksa by deed and word,
    Strode forth boldly to eternal fame!
    To lead his people to a safer world,
    When all others retreated in shame!

  8. Ananda-USA Says:

    There is ONE reason, and ONE reason ONLY, why Sri Lankan Tamil Eelamists, representing a minute fraction of Sri Lanka’s population unlike in other countries with larger Tamil minority populations, are emboldened and DARE to persist in demanding a SEPARATE State.

    That REASON is: the PROXIMITY of 65 million Tamils in Tamil Nadu, and the support they receive from Tamil Nadu, and an Indian Union BLACKMAILED by Tamil Nadu.

    One PROBLEM is the STEADY INFLUX of ILLEGAL IMMIGRANTS from Tamil Nadu to Sri Lanka, even in during the war years.

    CONSIDER that the most recent CENSUS in Sri Lanka shows that, despite the legal and illegal emigration of over 1.5 million FAKE Sri Lankan Tamil “refugees” from Sri Lanka to foreign countries in the last 30 years, the number of Tamils currently resident in Sri Lana has INCREASED above the number in the last CENSUS!

    HOW CAN THIS BE ….. EXCEPT through REPLACING the Sri Lankan Tamils who were deiberately EXPORTED to form the TAX BASE for the LTTE’s separatist WAR, they were more than 1:1 replaced by Kallathonis brought in from Tamil Nadu, working hand-in-glove with the Racist Demagogues like Karunanidhi, Jayalalitha, and other who held the reigns of power in Tamil Nadu.

    Did you wonder why a certain segment of Tamils held fast Prabhakaran accompanying him to the last stand in Puthirrikuddupu? They MUST HAVE BEEN who FEARED DEPORTATION from Sri Lanka if they were identified as Kallathonis living where they had NO RIGHT to be.

    This is the GREATEST SCAM perpetrated on the Sri Lankan Nation, that has been THRUST BELOW the BELOW the PUBLIC’s EYS, and carefully hidden under LAYERS of “Compassion” towards war victims, “Reconliation”, missing birth and familyiberately destroyed during the war years, and new ones issued in the place of those who have escaped abroad as FAKE refugees to Western countries.

    THIS ILLEGAL IMMIGRATION SCAM which REPOPULATED the North and East of Sri Lanka with Indian Tamils posing as long time Sri Lankans using the fake IDs of the dear departed, is ONE OF THE MAIN REASONS WHY Sri Lanka MUST NEVER GIVE UP control of its coastal borders to Tamils, and NEVER DEVOLVE POLICE and LAND Powers to them, for they are DELIBERATELY IMPORTING INdian Tamils to take posession of the land and CHANGE THE DEMOGRAPHICS of SRi Lanka!

    This is why IT IS IMPERATIVE that Sinhalese be settled in the North and East and the DEVOLUTION be ENDED forthwith, and the 13th Amendment scrapped to BOOT!

    Let the HISTORY of the FIRST IMPORTATION of over 1.5 million Indian Tamils by the BRITISH to work the coffee and tea estates in OCCUPIED Sri Lanka, and the SECOND IMPORTATION of 1.5 million Indian Tamils in the last 30 years by the TAMIL SEPARATISTS to replace Sri Lankan Tamils sent abroad, NEVER BE FORGOTTEN or ALLOWED to be REPEATED!

    As we see, EVERY DAY in EVERY WAY the TNA and Tamil Eelamist Diaspora is trying to get the OPPORTUNITY to OUST the GoSL from the North and the East, acquire Land and Police powers, to CONTINUE the task begun under Prabhakaran to repopulate the area with Indian Tamils and PERMANENTLY change the DEMOGRAPHICS of Sri Lanka in their favor! This PLOT to change the DEMOGRAPHICS is at the HEART of the DEMANDS for DEVOLUTION by the Tamil leaders!

    This is CRITICAL to the SURVIVAL of Sri Lanka as the HOMELAND of its MAJORITY Sinhala population …. who have NO OTHER HOME …NONE …. in this entire world!

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