UNHRC resolution is a diversion: Blake’s real target is the rupee and the economy!
Posted on March 4th, 2012
Ajit Randeniya
Those who ought to be keeping an eye on that shifty neocon agent Robert O BlakeƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s conspiracies for Sri Lanka need to be awake to the possibility that the ridiculous move through his off-sider Maria Otera at the UNHCR and the rapid slide of the Sri Lankan rupee at the same time may not be sheer coincidences.
It is likely that Sri Lanka will be able, with the help of the real ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”international communityƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ of the non-aligned countries and the 53 member Islamic nations group, to laugh away BlakeƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s suggestions that Sri Lanka owes some kind of duty to the neocon cabal to follow their diktats: Sri Lanka will of course, implement the recommendations of the Lessons Learnt and Reconciliation Commission (LLRC).
The almost seven per cent depreciation of the Sri Lankan rupee against the US dollar so far this year to coincide with the UNHCR sessions could be signalling the real attack they are planning on President Rajapakse and his government: the free fall of our rupee this year so far, since the ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”expert adviceƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ of the International Monetary Fund (IMF) was adopted, is only second to that of the similarly beleaguered IranƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s rial.
The low level it reached on 28 February (122.35 per dollar) and the Reuters monthly forex poll forecast ƒÆ’-¡ƒ”š‚ that it will fall to 128.50 by the end of August (they know!) should ring alarm bells in government quarters; a closer look at the weirdness of the neocon cabalƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s mentality and their modi operandi bear evidence to this.
The resident agent of the IMF Koshy Mathai could not hide his delight when he declared: ƒÆ’‚¢ƒ¢-¡‚¬ƒ…-We think that the exchange-rate adjustment was a step in the right direction and should help support Sri LankaƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s export competitiveness and safeguard its reserves over the medium termƒÆ’‚¢ƒ¢-¡‚¬ƒ”š‚: this is not surprising.
According to one of the most widely quoted pieces of research in macroeconomics from the book Currency devaluation in developing countries: Essays in International Finance (1971) by the Harvard professor Richard N. Cooper, nearly 30 per cent of developing country governments who had presided over a ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”currency devaluation episodeƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ of 10 per cent or more fell within 12 months, compared to just 14 per cent in a control group.
A slightly relevant, but un-publicised fact is that Cooper was also the chairman of the US National Intelligence Council between 1995 and 1997!ƒÆ’-¡ƒ”š‚ Based on the fact that the IMF, the World Bank and other money lenders always preach that path to economic salvation for developing countries is paved with devalued currencies, a cynic may come to the conclusion that Cooper probably sent a subliminal message to his masters of the potency of currency devaluation as an instrument of regime change!
The reason is, becausethe dud-orthodoxy the IMF imposes on the developing world that currency devaluation can help them achieve beneficial economic outcomes by increasing demand for exports (tea, rubber in our case), leading to more desirable balances of trade and to lower unemployment rates in turn, cannot withstand the common-sense test.
The theory that currency devaluation can help economic recovery is based on experience in the rich world prior to and during the Great Depression of the 1930s, under a totally disparate set of economic, technological and social conditions to those in the developing world; under Globalisation now they are cynically selling this sinister theory to the developing world where causes of poverty and conditions for growth are totally different.
In richer countries with high wage levels, currency devaluations by governments could possibly lead to reductions in unemployment by lowering real wages, providing an incentive for the business owning class to employ more labour. But in developing countries, where subsistence level or lower wages are the norm, it is not the primary factor limiting employment, and wages lower than the current levels can only lead to starvation of the workers! They know this.
IMFƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s usual advice on currency devaluation is contrary to its avowed objective to ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”stabiliseƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ foreign-exchange rates, and it inevitably leads to devastating consequences for developing countries: the theory ignores the fact that most of the exports of countries like Sri Lanka are not necessarily ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”price elasticƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ (demand for them is mostly independent of price) and more importantly, it increases the price of imports (exports of the rich world!). This second factor is crucial for a country like Sri Lanka currently busy trying to catch up with all the development tasks they couldnƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢t undertake over the 30 year period to 2009: this is the reason why there is a trade ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”deficitƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢!
The professed advantages of devaluation through foreign trade and tourism are ephemeral if they materialise at all, and disappear when the domestic prices and wage rates adjust to the new state of affairs. The final result is that producers of the devaluing country end up getting less for what they export and paying more for what they want to import; concomitantly they are forced to restrict consumption.
Moreover, the current economic crises in the US, Europe and Japan has given rise to a so-called ‘currency-war’ caused by every country aiming to achieve higher exports, and depreciation simply cannot lead to growth in exports to these countries because the relative exchange value of currencies may remain unchanged.
The net effect of rupee depreciation for Sri Lanka therefore, will be a severe curtailment of economic growth by reducing imports of machinery, equipment etc. essential for the growth process to continue; international money lenders in the meantime will grab hold of the economy further with the so-called foreign ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”investmentsƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ through the (now cheaper) government securities and purchases of businesses ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”going underƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ due to the foreign exchange burden; already, there has been a net inflow of US dollars 216 million during the period 9-29 February 2012 while the rupee was free-falling! Additionally, as it happened on 22 February, the government may be forced to purchase its own currency with foreign reserves, depleting its own assets further.
The deleterious effects of rupee depreciation will be accentuated due to the fact that it is happening on the back of higher interest rates, increased by 0.5 per cent on 3 February by the Central Bank, with a view to contain credit growth, (except by commercial banks raising funds abroad)! Foreign money lendersƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ wishes of lower inflation (in order to maintain the value of their money) will also be met due to the particular manner in which this statistic is calculated: however, the costs of food, fuel and other basic necessities will increase significantly, increasing the pressure on the local poor.
In short, the so-called improved ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”competitivenessƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ resulting from devaluation means that the citizens of Sri Lanka are now able to buy fewer real imports for a given amount of real exports, in reality meaning economic ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”impoverishmentƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢.
There are a few other related developments: Standard & Poor, one of the so-called ‘Ratings Services’ who gave the Lehman Brothers junk bonds an AAA rating, telling the world that everything is ‘hunky-dory’, has decided that Sri Lanka’s long-term foreign currency sovereign rating outlook is ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”positiveƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢ rather than ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”stableƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢. Another such agency, Fitch, has rated Sri Lanka to ‘BB-‘, upgrading from an earlier ‘B+’! Fitch has also advocated additional rate hikes as a remedy against inflation caused by currency depreciation, and has asked the government to remove all fuel and power subsidies! Meanwhile, the IMF is completing the 7th review of the US$ 2.6 billion standby facility by the end of March 2012 and will conduct an 8th final review later.
The funny thing is that Sri LankaƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s deficit is only around seven per cent of gross domestic product (GDP) and the comparable rates for Britain and the United States are 12.6 and 11.2 respectively: this is only a fraction less than GreeceƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s (12.7) whom they say are close to bankruptcy. But there is no talk of the pound sterling being devalued and most of the US scheming around the globe is, at least in part, aimed at preveningt the slide of the dollar!
So why are they panicking over Sri Lanka?
Because this is the sort of mechanism through which they could achieve regime change in Sri Lanka without having to send an army of a ƒÆ’‚¢ƒ¢-¡‚¬ƒ”¹…”coalition of the willingƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢, or to shed a drop of American blood!
They are trying to turn the economically oppressed poor of Sri Lanka, currently solidly backing President Rajapkse against him, and get them to do their job for them: a tried and tested formula.
March 4th, 2012 at 4:37 pm
If LLRC is also US’s suggestion, this is very possible.
As there is a black president, they may use the second of term of Obama for all kinds of changes in the world. So, the world will blame Blacks for screwing up the world.
March 4th, 2012 at 4:53 pm
The economics puzzles me, but apparently there is some thing in what is said . Because the American resolution against Sri Lanka is nothing by itself. It is asking Sri Lanka to impliment LLRC recommondations, which Lanka will ofcourse do without USA having to do all that circus in Geneva with a resolution. There is definitely something more dangerous behind the move. Hope Sri Lanka is made aware of this implication in the USA resolution. That may be why the UNP economist Harsha is doing calling for a debate.
March 4th, 2012 at 5:25 pm
Deficiet budjet,poor fiscal policy and living on debt is not a solution for any country. The americans have interests. They have no morality or compassion. They are interested in putting pressur on MR to wheen him away from china and to devide SL by implementing 13th amendment.. That is why the west supported the tigers .
On the economic front they have achieved their objective. SL is subservient to the IMF and are carrying out what they exactly want ie Regaining SL policy recommendations.
MR should put the 13th amendment as a referandum and finaly remove it from the constitution. He should not take away the soverignity of the people whose rights were grossly abused by India by getting this amendment passed by a treaturous JRJ and the UNP under the threat of an invasion.
March 4th, 2012 at 5:29 pm
Devaluing the rupee inline with the market is a good thing overall.
If rupee is not devalued, our foreign reserves deplete instead.
CBSL didn’t devalue the rupee beyond what it should be. Devaluation is extremely beneficial to local exporters. Hayleys a local flagship company suffers massively when the rupee is artificially overvalued. Hayleys and other exporters would benefit immensely from the devaluation.
Some crooked importers aligned to the government importing cars and luxury goods will suffer due to this devaluation as they have to pay more in rupees. Imports will be discouraged if can be produced locally which gives a huge benefit to local farmers. An overvalued rupee makes it impossible for farmers to survive.
Machinery imports will be expensive but most entities hedge these deals causing no loss to them. The produce of these machines will sell at higher prices now making the devaluation beneficial in total.
However, price increases of imported goods make the government unpopular. On the other hand it increases foreign reserves.
The way to overcome this is by government owned businesses like LakSathosa spreading out geographically and product-wise and run comercially. Most import industries are owned by anti-national elements who enjoy profit margins over 100%.
As the writer says, USA is definitely planning to pin down the economy and pit the people against the government. It is not happening through rupee devaluation but through forcing useless and expensive governance complications.
Privatisation has made any avenue of controlling the economy impossible and handed the steering wheel to pro-US groups.
India did this in 1988. the 13A costs $ 1.1 billion every year. This is the main reason why the government has to borrow. $2.6 billion IMF loan over 3 years is $0.9 billion a year. If we scrap the 13A, it saves $ 1.1 billion and there is no need to borrow $0.9 billion. $0.2 billion will be a bonus (1.1 – 0.9). Imagine wasting $ 1.1 billion every year for nothing.
LLRC recommendations will be extremely unpopular among Rajapaksha voters. Implementing LLRC recommendations will ruin the government in the electorate.
March 4th, 2012 at 6:58 pm
Sudan was supplying Oil to China. That may have been one reason why They divided Sudan into two. Now, they have not still finished with the Sudan. I think they wanted to scuttle that.
So, Because of the location of the island, sri Lanka has to co operate with China for mutual economic benefits. US may be looking for destroying that relationship.
March 4th, 2012 at 8:13 pm
“Currency devaluation can help them achieve beneficial economic outcomes by increasing demand for exports (tea, rubber in our case) ….” I am no economist but I wonder the veracity of this statement.
In my opinion, this is not a valid argument particularly for traditional exports such as rubber. Rubber prices are set on world market in dollars on demand created by buyers. Today it is China that calls shots on this and they bid in dollars not Yuan. If prices are set in dollars at world markets surely there cannot be an increase in demand for Sri Lankan rubber on rupee devaluation. Rupee devaluation has no affect what so ever to change the demand for raw rubber exports from Sri Lanka.
Besides, increasing the demand for our export by devaluation or another way is one thing; whether we can increase our supply to meet that increased demand not just for traditional produce but for industrial produce as well is another thing all together.
Letting our industrialists to fight out in an unfair competition with ruthless conglomerates in world market is ‘Regaining Lanka’ method. There will be no end to devaluation if we let our industrialists to rely on devaluation to have more rupees in their hand. They should be assisted with subsidies and to increase their productivity. That is how China did it. They never devalued their currency. Now that Westerners cannot compete with state assisted Chinese industries they demanded the Chinese to appreciate their currency. They change their theories and make calls for their gain only; it’s all crocodile tears.
Mahathir Mohammed called George Soros a Moron for he and the like had manipulated currency devaluation not just to make money but to change various Regimes in the past. Just like Mahathir did we too should assist our industrial exporters by way of subsidies or direct grants and by imposing restrictions on short term profiteers. The US does help its grain exporters; remember, Europe did it for their produces with Butter Mountains and Wine Lakes; and Japan still helps its rice famers with 800% import tax.
Coming back to my point, tea would take two years and rubber over five years to grow and reach the reap stage. Therefore, I do not think we can increase tea, rubber and similar traditional exports significantly in volume wise in the medium term. We should have a long term plan on world market forecast to increase production. Depreciation of rupee is not the way. I agree with the writer that O Blake and co may well have a hand in this Rupee deprecation just as George Soars tried in East Asia sometime back. We all know that they want to change the government.
Depreciation of the rupee means producers may get few rupees more to their hand for the same volume he produces. But that extra income definitely sets off with increased cost that follows. Thailand’s Baht has been holding its value since 1980. And its industrial as well as agricultural producers are flourishing. How come? The government must do a through study.
Leela
March 4th, 2012 at 8:47 pm
Anybody make any decision on US, always be aware that US is not one country. US is “two in one”.
US is ruled by Israel. Israelis. repeatedly told SL about this. So most intelligent decision, intelligent operation in the US directed by US Jewish branch of Israel. Also, European are same.
Why European and US depend on Israel for Intelligent? because Israelis have been showing them that they did a good job playing friends between two groups, for a example: between Tamil and Sinhalese, between Indian and Sri lanka. between India and China. between ex Soviet and US and of course, most importantly infiltrating into Palestinian groups and Pakistanis and Afghanistan groups distinguished as Muslim or Palestinian or Arabs. I watched an old video tape produced by Canadians CTV news on how Israelis dress up exactly look like Arab and talking with Palestinian as Palestinian
So this the case. Intelligent is very important. and if there was no Israel, American and European noway can act like Muslim and reach Taliban in Afghanistan and Pakistan destablish the region.
On the other hand, most Muslim in Europe, North America, gulf cooperation countries and Pakistan are very well ware of this and if any Israeli or a Jew get caught to Muslim in India, Pakistan, Arabia or even in the West, that’s the day global blood shed take place against Jews.
Therefore, US and Israel think that Muslim, Indian, Chinese, African and Sri lankan stay cattle forever, but not forever.
March 4th, 2012 at 9:30 pm
Currency devaluation makes Sri Lankan companies very appealing to foreign take overs. Just say, they bought over the Telecom companies in Sri Lanka. That would intelligence access. With other companies, they can manipulate the economy. Foreign investors may pay extra money as there is dual purpose for the take over.
March 5th, 2012 at 4:15 am
Yes. All Sudda countries want regime change in SL. But SL has no “Regime” only and democracticaly elected Raja.
Only way to survive is by doing good deeds. Attack the main problem, corruption.
Corruption is rampant. Stop this. This will add at least 30% value to the rupee.
Look at the police. Most corrupt police in the world. This is very easy to tackly if Raja wants. Firstly Raja himself must learn Buddhism and reduce his greediness rather than preaching to common man.
March 5th, 2012 at 5:14 am
Maldives, our smallest neighboor has comeout in support.
Our big neighbour and biggest economic beneficiary of the island nation is dumbfounded.
Navi Pillai’s is a Person of Indian Origin (PIO).
Take off your coloured glasses and just look accross to see our enemy then aqnd now.
US is just a pawn in the scheme of things.
Let us unite and stand up to Indian imperialism and Indian colonial parasites.
March 5th, 2012 at 7:53 am
It is said that ‘Economics is the hand maiden of Politics’. Weaken the Economy, weaken the Politics & politicians in power. Putting ‘puppets’ in the place is made easier with a weak economy. The art of ‘puppetry’ is useful in controlling countries.
Are attempts to enter the Indian economy big time being made via the soft underbelly of India (Tamil Nadu area), and by slicing up Sri Lanka ?
Some other relevant notes :
* The German currency was so weak in the 1940’s, Germans had to take a ‘wheel barrow of currency’ just to buy a loaf of bread just prior to WW II. The psychological effect on ordinary citizens of having to do such a thing is to impose a sense of failure & frustration on them. Should Lanka do away with the cents and have 2, 5, 10, 20, 50, 100 ….. 1000 & million rupee notes & coins only ? I am not an expert on currency notes and would welcome views on this matter.
* India, about two months ago, withdrew from a deal with Walmart, USA, to allow 500 Walmarts to open in India.
* Secure the country from within : Remove the 13-A, deport illegal migrants, have an Oath of Allegiance for all. In alternative economic activity for the Private Sector to create a sense of well being in the country, we can start on local Co-operatives in a very serious manner at village level to produce goods mostly from local materials. Also have worker owned businesses (through profit sharing).
* “People before Profit” is a good motto in these times.
March 5th, 2012 at 8:06 am
P.S.: Tamil Nadu political party the DMK led by Karunanaidhi is the only political party in TN urging India to vote against Sri Lanka at the UNHRC sessions. DMK stands for Dravida Munnetra Kazhgam. There are a number of ‘Dravida’ parties in Tamil Nadu. i.e. DK, AIADMK, MDMK, PDK, DMDK. Fanning the word ‘Dravida’ to unite the Dravida sentiments in the southern states of India seem to be the objective here. Long term plans being laid here to slice India ? Not sure.
March 5th, 2012 at 8:15 am
This is a great article – an eye opener. What Sri Lanka need is not devaluation of currency, but increasing the value of the currency combined with ‘Export Rebates’.
Being an ‘import dependent’ country, we need to have a stronger currency. Otherwise, all the monies we earn from exports would go back from the front-door itself to pay for imports, and back-door to pay for loan interests and payments.
It is always beneficial for any country to reduce waste and corruption, and to increase productivity in order to be rich. There is no argument about it.
Since we are going to be the losers of floating the Rupee (because, we are insignificant to maintain its value like what US does by making almost every big trade to be done in US$), we need to artificially maintain the Rupee exchange rate to favor our development. We need to define the ‘right’ value of the Rupee to suit our needs, and do whatever possible to maintain it until we achieve our goals to suit that rate. Likewise, we have to adjust the value of the Rupee until we become a ‘developed nation’.
Once we achieved the ‘developed nation’ status, then we can selectively decide to free float the Rupee. We are far from that at this moment.
At this point of our economy, we should focus on implementing a sound ‘Export Rebate Program’, and bring the value of the Rupee up to at least Rs. 80.00 per US$.
Above strategy will allow us to quickly payoff our debts, as well as afford the imports required for development.
Not only the Provincial Councils we should abolish, but also the FTA with India which is very unfavorable to the country at this moment.
If the Rupee was devalued as IMF requested, it un-stoppable that people started revolting against the government, because of un-affordability of cost of living. GOSL should act now and should lay the foundation of getting out of the IMF trap.
March 5th, 2012 at 8:48 am
By Bombings and kllings, Europe was liberated from Hitler and the Nasi Germany. After the war USA assisted
suffered Germans. Until now more than after 60 years US soldiers are in Germany. No Germans say against
them. The same apply to Sri Lanka. Tamils liberated from dictator Pirabakaren and Sri Lanka was liberated
from Terrorism. How many Tamils in Sri Lanka and abroad are thankful to SLG and enjoy the Freedom now.
The Tamils who are shouting against SLG have no Hearts for Tamils or anyothers.
The countries who support the Tamils who are against SLG have no hearts for poor conutries.
March 5th, 2012 at 2:18 pm
“UNHRC resolution is a diversion”- How true!
President Rajapakse is an astute politician.
March 5th, 2012 at 8:06 pm
I do not know any thing about Rupee devaluation, but I know how China, India and Pakistan have a higher value for their currencies. It is because Sri Lanka does not export any thing to USA other than apparel. India’s fresh mango exports to US is over a billion dollars last year, so was Pakistan’s. Why can’t Sri Lanka export canned goods to US in large scale? Why can’t SL sell to the worlds largest suprmarket WALLMART (Largest in China too). I cannot find any SL products there, but I can find canned coconut cream (POLKiRI) from any other country that grows coconut. May be the agriculture minister has never travelled to USA! Or eat only one meal a day as this TAMIL Clown “Dham” says. As soon as some one calls Suddha referring to an European, I know for sure it is a TAMIL who is a disinformation writer. If you need POLKIRI from SL in Florida USA, it is the small Indian or the Pakistani shop where thsy charge twice the normal price. Or oder it on the internet for slightly lower price.
March 6th, 2012 at 6:06 am
Looking at the economy of Lanka in a pragmatic way, we have to realise that for a very small country like ours to compete effectively with large neighboring countries with large land masses, large populations & economies, it is going to be a hard task.
Take a small example such as coconut products sold in the west, imported from the east. There is powdered coconut milk (Nestle) some of it from Lanka, canned coconut milk (mostly from Thailand), shredded & dried coconut, coconut milk in cartons & coconut water in cans. A small country like Lanka can corner the Organic coconut product market better than competing with large countries for ordinary coconut products. It is in specialisation that Lanka can score, in any field, by doing it well and exporting at a reasonable amount. It is the same in apparel, gems, tea (organic), tamarind, etc. Just make it better, cleaner, packaged well, and maintain quality. Quantity can be less, but if
Meantime, back at home, we will have to make sure that the local needs are met and prices kept affordable. Co-ops at village level to cater mostly to local market will secure local jobs under control of the villager.
March 6th, 2012 at 6:16 am
Sorry for incomplete article. Am re-sending complete one.
Looking at the economy of Lanka in a pragmatic way, we have to realise that for a very small country like ours to compete effectively with large neighboring countries with large land masses, large populations & economies, it is going to be a hard task.
Take a small example such as coconut products sold in the west, imported from the east. There is powdered coconut milk (Nestle) some of it from Lanka, canned coconut milk (mostly from Thailand), shredded & dried coconut, coconut milk in cartons & coconut water in cans. A small country like Lanka can corner the Organic coconut product market better than competing with large countries for ordinary coconut products. It is in specialisation that Lanka can score, in any field, by doing it well and exporting at a reasonable amount. It is the same in apparel, gems, tea (organic), tamarind, spices – particularly cloves & cardamoms, etc. Just make it better, cleaner, packaged well, and maintain quality. Quantity can be less, but if QUALITY is good, Lanka can hold the market.
Meantime, back at home, we will have to make sure that the local needs are met and prices kept affordable. Co-ops at village level to cater mostly to local market will secure local jobs under control of the villager. It is very import that the Exporters do not get carried away and neglect the local market. SELF SUFFICIENCY is the key word.
Re retail marketing, I have seen very successful marketing done in USA under worker owned establishments. This is done through profit sharing. Even a temporary worker of a month gets a share of the business profits for that period, however small. As a result the benefits for the organisation is multifold. Workers are honest, no cheating, as they become co-owners of sorts of the company while they work there. Workers are happier and treat owners & each other better as well as customers.
March 6th, 2012 at 7:58 am
Ajit,
Sincere thanks for your article. It is a very important one.
——–
I would like to add that we are being DISTRACTED in more ways than one.
For instance, illegal migrants from Tamil Nadu are still here in Sri Lanka. We have no idea how many are here. We only know that Colombo and other cities had a large and sudden swell of Tamil people within a few years, and yet the numbers of Tamil people in the North also increased. Who are the IDPs of the North area ? Over a million Tamil people left Lanka after 1983 Riots (also a trumped up episode, in the many fake episodes in our near history), and yet the numbers of Tamil people remains the same !. GoSL must do a proper study into the matter and expose facts to the public.
A person writing to another website said that FISHERMEN anywhere have their right to travel the seas and land in any country
and that is their right to do so ! We say that this may have been accepted in the far past, but certainly not so now. No country in the west will tolerate this type of thinking, and anyone landing illegally on their shores will be treated as an ILLEGAL MIGRANT. We think that Sri Lanka has had lax rules regarding this aspect in the past, and must tighten the rules and observe them with care.
Lankans must realise that this land and its people, including Lanka born Tamil people themselves, are being DISTRACTED from the real issues, of which the SECURITY & the ECONOMY are the most important, with illegal migration and Separatism/division of Lanka coming in a close second.
A Magician does the same Distraction of the audience. Wave one hand with brightly colored scarves and objects, while the other hand does the sleight of hand ‘trick’, just like the UNHRC fracas against Lanka while the Economy is being downed.
On our part we must wisely make “lemon aide out of all the lemons” we are given.
March 6th, 2012 at 12:28 pm
Someone who read my comments told me that he thinks that the UNHRC events against Lanka are being used to make Illegal Migrants in Lanka appear to be and get accepted as legitimate citizens of Lanka.
March 6th, 2012 at 4:06 pm
We have always thought that the despicable LTTE Thugs were a creation within Sri Lanka. I beg to differ, the LTTE is totally a foreign creation in particular of the British and American Governments and thier intelligence agencies MI6 and the CIA with Mossad and RAW Indian intelligence providing a supporting role but cheifly a creation of British Intelligence, I have no proof of this but this is my view! There is evidence that through RAW British, American and Isreali Intelligence agents trained and armed Prabhakaran and the LTTE into one of the most deadliest, Brutal, monstrous terrorist groups on Earth. They planted this evil in Sri Lanka. Don’t forget the LTTE had their head office in London with Anton Balasingham and friends no doubt drafting their plans at Brit Intel HQ to break up Sri Lanka for bigger sinister western agenda of domination of the world.
IT IS ONLY THE TRAINING, SUPERB FIGHTING SKILLS, DARING AND SHEER DETERMINATION OF THE SRI LANKAN ARMED FORCES THAT THE LTTE IS NO MORE!!!
So are we surprised that west is targeting Sri Lanka? I expected it. Their favourite terrorist group was crushed in Sri Lanka and the Brits and Americans are crying over it. THis is basically whats going on in Geneva.
I submit to you that the LTTE is totally a creation of the Central Intelligence Agency of America and Military Intelligence Six of the United Kingdom. That is where all intelligent Sri Lankans should direct their counter attack.
Sri Lanka should take the US and British Governments to court for the bloodshed, murder and destruction of property for 30 years in Sri Lanka.
Sri Lanka should turn the tables on these two evil nations and whole them to account for their crimes not just in Sri Lanka but around the world.
On ward Sri Lanka to Victory against these two thug nations. We are right behind you!