{"id":56257,"date":"2016-07-04T22:25:16","date_gmt":"2016-07-05T04:25:16","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=56257"},"modified":"2016-07-04T15:07:33","modified_gmt":"2016-07-04T22:07:33","slug":"sri-lanka-cannot-be-a-china-or-vietnam-an-economic-science-lesson-to-political-liars-dr-indrajit-coomaraswamy-opion","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2016\/07\/04\/sri-lanka-cannot-be-a-china-or-vietnam-an-economic-science-lesson-to-political-liars-dr-indrajit-coomaraswamy-opion\/","title":{"rendered":"Sri Lanka cannot be a China or Vietnam: An Economic Science lesson to political liars-Dr. Indrajit Coomaraswamy\u00a0\u00a0 -Opion"},"content":{"rendered":"

Dr Sarath Obeysekera<\/em><\/span><\/h2>\n

I have read the above statement made by new Governor of CB with dismay ,as he has not specified what reforms we need to initiate .<\/p>\n

As an economist he will speak about GDP ,Export Potential, High Labour cost and nothing about how to improve the productivity.<\/p>\n

He talks about attracting investors, but he does not know about the unbearable obstacles Industrialist and investors are facing to get a project of the ground<\/p>\n

( I as an investor is facing so much difficulties in \u00a0getting the \u00a0approvals from\u00a0 agencies like CCD.CEA ,SLPA ,UDA,MEEPA\u00a0 .Megapolis,Southern Development Board \u00a0etc etc etc to start a foreign currency generating project which will also provide employment\u00a0 )<\/p>\n

The governor also states that under such a situation, Sri Lanka should plan its future economic growth through a policy of promoting increased private sector centric exports and attracting more direct foreign investments.<\/p>\n

Can he spell out how to attract those foreign investors??<\/p>\n

As an industrialist and a foreign investment promoter let me suggest \u00a0what we should do .<\/p>\n

Our labour laws are too democratic and too anti productive ,hence we need to have hire and fire\u00a0 policy to make the labour force and blue collar workers to have a fear\u00a0 psychosis from losing the job. If they get fired ,the whole family may starve hencethey will be reluctant to strike.<\/p>\n

State should make them borrow more for education ,health care and \u00a0housing at a reasonable low rate of interest to entice them to have a high loan burden.<\/p>\n

When they have a obligation to repay high loan instalment, they will work harder and become fearful in losing the job .<\/p>\n

With a democratic government we cannot have strict labour laws. In Vietnam and China they do not have much democracy, hence the labour force cannot revolt.<\/p>\n

Second suggestion is to get the women be \u00a0the head of the family who should be signing for the borrowing, as they are more responsible in repayment of loans ,In order to repay the loans she will not allow her somewhat revolutionary husband to play around with his job.<\/p>\n

(This idea was given to me by an ex JVP leader in seventies \u2013Mr Susil Siriwardane !)<\/p>\n

Third suggestion is for the mighty president to suspend the constitution and become a Benevolent Dictator ( The way he appointed the Governor and now tackling VAT issue, amply proves that he does not have to listen to MP\u2019s !)<\/p>\n

If I have a chance of being his right hand man to implement above ,I will work harder as I will be a worker who will have a \u00a0fear of getting fired.<\/p>\n

Lastly, stop giving and financing facility to buy cars ,three wheelers and \u00a0lend the money \u00a0to Industrialists so that they\u00a0 work harder to repay the loans and produce more and more .<\/p>\n

I cannot think any other way to come out of this economic mess<\/p>\n

Dr Sarath Obeysekera<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Dr Sarath Obeysekera I have read the above statement made by new Governor of CB with dismay ,as he has not specified what reforms we need to initiate . As an economist he will speak about GDP ,Export Potential, High Labour cost and nothing about how to improve the productivity. He talks about attracting investors, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-56257","post","type-post","status-publish","format-standard","hentry","category-forum"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/56257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=56257"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/56257\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=56257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=56257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=56257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}