{"id":81536,"date":"2018-09-29T15:36:30","date_gmt":"2018-09-29T22:36:30","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=81536"},"modified":"2018-09-29T15:36:30","modified_gmt":"2018-09-29T22:36:30","slug":"sri-lankan-rupee-depreciation-due-to-corruptions","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2018\/09\/29\/sri-lankan-rupee-depreciation-due-to-corruptions\/","title":{"rendered":"Sri Lankan Rupee Depreciation Due to Corruptions"},"content":{"rendered":"

Nawagamu Deshabandu\u00a0<\/em><\/span><\/h2>\n

Many of us know that there are many factors for the Sri- Lankan rupee deprecation. But, it is a concern that rate of the depreciation of Sri-Lankan rupee has accelerated. It is true that many other countries have their currency depreciation due to the impact of American politics, but their rate of depreciation is not as bad as ours.<\/p>\n

The government is trying to face this problem by restricting imports into the country and increasing exports. The government has also released some of its US dollar reserves in to the market as a temporary measure. This is a good thing.<\/p>\n

Another area that government does not look at is the narcotics market. There is more money going out of the country for narcotic drugs than importing of vehicles.\u00a0 The government should do all it can to put a complete stop for importing of narcotics into Sri Lanka. What happened to the decision taken by the cabinet and the president on implementing the capital punishment? Are Some ministers involved with the drug trade ruining lives of innocent people of Sri Lanka?<\/p>\n

Another area why our country cannot move forward in our economy is the scale of corruptions in the government controlled provincial and regional councils. It is very difficult for investors to get relevant approvals without giving them bribes. Usually approvals get delayed for months or years pressuring investors give bribes to them.<\/p>\n

For example, about three months ago, I have purchased a land, through a land sale by a company,\u00a0 hoping to start a guesthouse for foreigners. The company has clearly satisfied the conditions for the land approval for construction of buildings. But, three months have passed, I am still waiting for the approval from the regional council. I suspect they are waiting for the bribe!<\/p>\n

There are many stories like this on every day news papers in Sri Lanka. But, the government keep blind eye on these matters.<\/p>\n

Ease of doing business is worst in Sri Lanka compared to many South Asian countries where taking and giving bribes is part of a normal business activity.\u00a0 We can earn more dollars through tourism. Therefore, the government must put a system of checks and balances in place which will prevent corrupt politicians asking bribes and blocking dollar earning projects such as tourism related projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nawagamu Deshabandu\u00a0 Many of us know that there are many factors for the Sri- Lankan rupee deprecation. But, it is a concern that rate of the depreciation of Sri-Lankan rupee has accelerated. It is true that many other countries have their currency depreciation due to the impact of American politics, but their rate of depreciation […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-81536","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/81536","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=81536"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/81536\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=81536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=81536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=81536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}