COMPARATIVE ECONOMIC DATA AND TRUTH ABOUT THE HUMAN CONDITION IN SRI LANKA
Posted on April 12th, 2022

BY EDWARD THEOPHILUS

 The study on the economic history shows that there have been fluctuations in economic growth from time to time and people in the world experienced negative and positive economic outcomes resulting from fluctuations. The changes in economic prosperity either positively or negatively impact human lives. This reality could be seen in all countries and people in Sri Lanka narrowly think that the impact of economic downturns affects only Sri Lanka and political parties use these changes for gaining publicity and this situation became politics in Sri Lanka equalizing to rubbish than a valuable process of policymaking.  International news focuses on economic downturns and the negative results impact on poor people in many countries. I saw in Australian news irrespective of whether they are owned by the government or private firms they consider human difficulties    

The media attempts to show that an economic downturn is an isolated event in Sri Lanka, but the truth, it is associated with many countries and how people look at the event is disagreed from one country to another. Talking about economic difficulties is a reflection of the short sight of the news system in Sri Lanka and the motivation of certain political parties.  

The story expressed in data might be lies and we learnt that data is also a kind of lie or a system to use for misleading people. People in Sri Lanka must note that economic achievements have limits and whatever the data express the reflection of the human condition may be changed from time to time. Generally, more than 97% of people believe in a religion but the behaviour of people seems to be contrary to religious teaching.

The protest against the president of Sri Lanka consists of less than 20000 people and it is reflected as a valid public opinion.  If it wants to convert to a valid public opinion minimum of 10 million must be participated in protest rallies, the total participation of rallies was less than 20000 people and it is not equal to the total university’s student population.

The human condition in Sri Lanka is comparatively better than in many poor countries and the people of Sri Lanka have not improved in thinking power, knowledge and attitudes. They think they are educated but they have no analytical power to think logically and they are stuck with allegorical views and whoever says fabricated lie they believe it. For example, protest rallies against Gota consisted of less than 20000 people in Gall Face Green but it was not true and people believe that millions of people participated in protest rallies.

The economic difficulties of Sri Lanka were contributed by the economic condition of the world, fabrication of people, misuse of information and many reasons.  Economic managers were responsible for a downturn in economic undermanagement.

The following constitutional and policy action is required to properly manage the country.  International politics seems to be associated with the problem especially the problems between India and China have complicated problems and the superpowers may be behind the issue.

  • The parliament in Sri Lanka including elected and appointed members should be limited to 90 or 100.
  • The cabinet should be limited to 15 and they should not be provided other than monthly payments.  They should not be given a pension. Payment of ETF and EPF for the period of working is acceptable.
  • It should stop appointing party members to director boards of government corporations.
  • Government contracts of any form should not be offered to politicians or nominated people.
  • If the country could ban political parties, it would be better and party politics must be eliminated in the country.
  • Gota should be allowed for two terms and the role should be closely monitored.
  • The Central Bank is the regulatory authority of the financial system of Sri Lanka and no market operations should be done by the central bank. New institutions must be established to operate the superannuation market and EPF, ETF, other funds should incorporate with the proposed institution. 5000 unemployed graduates should recruit to a new institution they should be given one year finance and accounting diploma with strong mathematics, statistics and econometrics. Unemployed graduates with a degree in whichever subject can work in a new institution.
  • 50% of all public enterprises must be privatized and borrowing should be stopped by the government.
  • The government must submit balanced budgets or excess budgets
  • Free education and health service should be provided only to unaffordable people.
  • All political parties based on religion and ethnic-based must be stopped.
  • Religious clergy should not allow representing the parliament and other administrative institutions.
  • If the government cannot pay a debt restructuring and reducing repayment are essential and those who left the country are not sending money, they should not be given any facilities including duty-free purchases.

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