Will the puritans – Media and Central Bank – now step forward and cast the first stone at Sakwithi Ranasinghe?

Sakwithi Ranasinghe is virtually crucified. Stable gates are tightened. That should make everybody happy – at least till next such event. Time to wipe out the entire episode from mass reminiscence and move to cricket, if not Kilinochchi.

So this might be my last post on Sakwithi. (BTW, I will appear in TNL’s Bihidora on Wednesday 9.30 pm to speak on the subject.)

Nalaka Gunawardene disrobes the media prostitution. The very media now chastise Sakwithi sir, once willingly slept with him to build his larger than life image. Media moguls could have been a bit more discretionary on advertisements to minimize the damage. Apparently they did not care and the gullible mice followed the Pied Piper. So how ethical is it for media to wash its hands and shed crocodile tears now? (Ironically, ‘Lankadeepa’ of Sept 28 simultaneously brands D. K. Udayasiri of Sakwithi’s ilk as a bogus or ‘hora’ investor in its lead news, and carries a half page ad for him inside!)

Let me take on the other puritan – The Central Bank of Sri Lanka.

I do NOT – repeat NOT – blame Central Bank for not playing the role of the regulator, it isn’t. Central Bank ‘s mandate is limited only to supervise registered finance companies, and Sakwithi sir was not within that category. He should have been taken care by the Police, but what use blaming a force headed by an IGP who expects video clips from rape victims? I hear few SPs and ASPs are among those who were taken for a ride by Sakwithi sir. I am not surprised.

I blame Central Bank for a different reason – creating the breeding ground for Sakwithis.

It is simple arithmetic. Inflation is as high as 25-30%. Maximum interest commercial banks pay for fixed deposits is 16-18%. Registered finance companies go a little further but still cannot catch the inflation demon. So even a fifth grader can figure out if you leave your money at a bank, by the end of the year you are worse off.

Investing in real assets is the only intelligent option to beat inflation, but not everyone is wise. Plus there are issues with real assets. Lands do not come in customizable sizes and gold is difficult to protect. So when Sakwithi says he offers Rs. 4,000 per month for a deposit of Rs. 100,000 (that is about 50% annual interest) they jump in without thinking twice.

It is not that they are greedy. They are made to run non-stop for mere survival. When the formal financial sector cannot address their needs they turn for informals. Sakwithi Ranasinghe, strictly speaking, might not have been a crook- he could have been an investor who failed by taking risks too high. (not that I endorse it) An interest rate of 50% is not as high it seems for an investor in construction industry. Minus inflation it is about 20% and building material prices escalate at a higher rate.

If Central Bank thinks they can stop Sakwithis by placing advertisements in newspapers and exposing few like him once in a while they are badly mistaken. It is like trying to control Dengue by killing mosquitoes. No matter how many killed, mosquitoes will be there as long as their breeding grounds exist. So do risky investments.

None other than W. A. Wijewardene, the very Deputy Governor of Central Bank, recently equated ‘Inflation’ to ‘terrorism’. If so, Sakwithi is a suicide bomber. Sheer vigilance is necessary, but not adequate to prevent him. Death of one suicide bomber does not prevent others. It is a larger game. Whether it likes or not Central Bank should take the inflation bull by its horns, sooner than later. Unless it does so, there is little use in blaming Sakwithi Ranasinghes.

Edwin Ariyadasa: A naive victim or a willing accomplice in ‘Sakwithi Ranasinghe’ scam?

I am sad to pen this post.

Edwin Ariyadasa, as an intellect and a writer once made a profound impact on my life. Our generation, unlike the youngsters today, had no Internet or even TV. It was all books, radio and newspapers. Ariyadasa’s realm was the last two.

He was an excellent presenter. Precise and concise in facts, he knew exactly what the readers looked for.

What made Ariyadasa unforgettable were the contributions to ‘Navayugaya’ and ‘Silumina’. I still remember him explaining in mid 1970s how future generations would start their days by reading newspapers electronically delivered to homes. Then it was unthinkable – I wouldn’t have then believed it to happen even in the west – let alone here. Strangely that is what we do today. May not be at home, but most of us read online versions of news early morning. Suffice to describe the visionary he once was.

Unlike most writers of the time he never tried pushing a political ideology. A true unbiased ‘walking encyclopedia’ – no more, no less. I cannot be the only one who then saw the future in his eyes.

So how would the news of his ‘partner’ (or employer – as Ariyadasa emphasizes, saying he was paid Rs. 100,000 per month for the services) running away with billions of hard earned rupees sound to his once fans like myself?

Personally, I am disappointed. Not because I think Ariyadasa was a part of anything that happened, but no denial that he endorsed a dubious character. An irresponsible act – to say the least. What does Ariyadasa now say about his name appearing in full page advertisements in Lankadeepa inviting depositors? Can he claim unawareness? What about the claims by depositors that Ariyadasa encouraged them to deposit? Does he deny that?

Those who sleep with dogs will get up with lice. (Ballan samaga nidagath vita mekkan samaga negiteemata siduve) A wonderful saying attributed to a famous Sinhala journalist. Sad that Edwin Ariyadasa had to learn it the hard way.

Ariyadasa is not alone. This episode also brings the story of a certain Computer professor into our minds. No need for a name as he is no more. Just like Ariyadasa he too had a credibility built up for a lifetime which he risked for seemingly minor benefits.

After his retirement from the University this Computer Professor had a comfortable life ahead him with no worries. He had no financial issues because both his sons were then employed by two international IT firms. Still his sheer unwillingness to give up power once yielded made him accepting a chair at a government organization for a compensation of Rs. 100,000 per month – exactly the same thirty pieces of silver Ariyadasa received.

This power, of course came with a price tag. His political masters wanted him to manipulate a tender of USD 15 million so that a firm represented by a close relative of a VVIP wins it. This was no easy task, as the other party offer was both technically and financially superior. The offer of VVIP’s close relative was USD 1 million more and not represented by a local partner – a mandatory condition in tender. Still this stupid old man did the honurs and awarded the tender to the wrong party – whose offer should have not even been short listed in the first place.

What got him was the media. Revelations by ‘Sunday Leader’ and ‘Ravaya’ perhaps added to his guilty consciousness. That guilty feeling finally took his life. A stupid man, who could have lived for another ten years easily, lost his life being a pawn of a much bigger political game.

Thanhaya jaayati soko – greed generates sorrow. This is something both Ariyadasa and the said Computer Professor should have known. Latter is now dead, buried and conveniently forgotten even by his closest disciples – but we hope Ariyadasa is still not too late.

Malaysian anti-government blogger jailed for two years

A prominent anti-government blogger in Malaysia has been detained for two years on charges of insulting Islam.

Raja Petra Kamarudin has been held without trial under controversial internal security laws which could see him detained indefinitely.

His lawyer has described the detention order as “a big blow to the idea of civil liberties” in Malaysia.

Raja Petra was arrested on 12 September as part of a crackdown on political dissent by the Malaysian government.

He was one of three critics of the government arrested in what the opposition said was a sign of panic by the embattled administration of Abdullah Badawi.

Raja Petra was accused of insulting Islam and inciting racial tensions through an article he published on the Malaysia Today website.

He has been sent to a detention centre in the state of Perak by order of Malaysia’s home minister.

Marina Lee Abdullah, his wife, told AFP: “This is the worst news I can receive, but we will keep fighting for his release”.

(news.bbc.co.uk)

Who is the bigger crook? Sakwithi Ranasinghe or someone else?

Sakwithi Ranasinghe, the popular English lecturer is missing. So is the money he is said to have borrowed from the investors. Lanka Dissent claims the amount to be Rs. 4.5 billion (US$ 45 million). Guess it is an exaggeration. That is too big. When somebody wanted to help Hambanthota the amount he thought adequate was a mere Rs. 92 million – just one fiftieth of that. So actually if he flicked such a large amount (which I do not think) Sakwithi Ranasinghe has to be lot smarter than our Hambanthota uncle.

I cannot understand why Sri Lankan public is so gullible. Sakwithi Ranasinghe was reported to pay his depositors an interest of Rs. 4,200 – 7,200 per month for a capital of Rs. 100,000. That is Rs. 50,400 – 86,400 for a year or 50% to 86% annual rate. You don’t have to be a fund manager to understand there is something fishy. Nobody can survive for long paying such huge interest rates. They should have known. Now it might be too late.

I don’t blame Sakwithi Ranasinghe entirely. The country has reached a level that everybody started taking robbing as the norm. If P. B. Jayasundara uncle can survive after Supreme Court founding his guilt for such a high level of corruption, why not Sakwithi Ranasinghe follow? Should somebody who was found his hand inside cookie-jar be given the responsibility of running the national air line? Should somebody who ought to spend his time in jail for the financial crimes committed be sent to foreign missions?

Pity that Hambanthota uncle still maintains a soft corner for all the crooks under the sun. Perhaps we shouldn’t blame them. Birds of a feather, as they say, get together. Should one just chase off a brother from family just because the latter takes 25% from every deal? I guess not. Blood is thicker than water, and one needs money to ensure one’s sons enjoy the cooler climate in Britain while the poor godayatik village boys fight and die to save the nation for them to rule one day.

Finally, why call Sakwithi Ranasinghe a crook, when there are so many crooks around us? Why blast one crook and vote for the other crooks?

Former president Dingiri Banda Wijetunga bids farewell to the nation

Former president Dingiri Banda Wijetunga has passed away around 9.30 this morning (Sept. 21st) at Kandy General Hospital, after a prolonged illness. He was 86.

Mr. Wijetunga became the third executive president of the country on May 1, 1993 after the death of President Ranasinghe Premadasa. He served as President till November 12, 1994.

He was also the Prime Minister of Sri Lanka from March 3rd, 1989 to May 7th, 1993.

Mr. Wijetunga was born to a middle class Sinhala Buddhist family living on the outskirts of the then Udunuwara Parliamentary seat in the Kandy District of the Central Province in Sri Lanka. On completion of his secondary education he joined the Co-operative Department as an Inspector.

He closely associated with veteran politicians like George E. de Silva and A. Ratnayake. A. Ratnayake who was then Minister of Food and Co-operatives in the D.S. Senanayake Cabinet took him as his Private Secretary.

He joined the United National Party in 1946. He entered Parliament for the first time when he successfully contested the Udunuwara electorate at the 1965 general election and quickly made a reputation for himself as an excellent Member of Parliament who constantly worked for the welfare of his electors. In terms of meeting the needs of his constituents, he was considered the most effective MP in that Parliament.

He lost the Udunuwara electorate in 1970 but was returned to Parliament in the 1977 UNP landslide, being appointed Cabinet Minister of Information and Broadcasting in the J.R. Jayewardene administration. During this regime Wijetunga functioned in various ministerial capacities holding the portfolios of Posts and Telecommunication, Power, Highways and Agricultural Development.

He served briefly as the Governor of North Western province in 1988 before returning to Parliamentary politics a few months later. In the last general election he contested he secured the largest number of votes in the Central Province.

Mr. Wijetunga became acting President in 1993 till Parliament convened to elect a successor to the slain President in terms of the Constitution.

The amiable Wijetunga was elected unanimously by Parliament to complete the remainder of Premadasa’s term. The humble Kandyan farmer was sworn in as the fourth executive President of the country on May 7, 1993.

In a moving farwell speech to Parliament Wijetunga cited Shakespeare’s oft-quoted line “Do not be afraid of greatness, Some men are born great, Some achieve greatness, And some have greatness thrust upon them.”

As president, Wijetunga set about his work in his own simplistic, inimitable fashion. After the authoritarian Premadasa, Wijetunga ushered in a more political free era.

His rule also coincided with the rise of Chandrika Kumaratunga within the ranks of the SLFP. For some of the elite the daughter of two Prime Ministers was a refreshing contrast to the humble village peasant in President Wijetunga.

His rather hawkish approach to the ethnic conflict also made him unpopular especially among the minorities who traditionally backed his party.

After a decisive defeat in the Southern Provincial Council Election in 1994, he dissolved parliament in August that year, in a desperate bid to stem the rising wave of popularity of Chandrika Kumaratunga.

However the party was defeated in the hustings and Wijetunga graciously appointed Kumaratunga as Prime Minister. Even though under the constitution, Wijetunga was bestowed with wide powers, he wisely chose not to exercise much authority, letting the Prime Minister manage the affairs of the country.

He relinquished office in November 1994 after Kumaratunga was elected President by an unprecedented majority.

Sources: Wikipedia and Lankadissent.

Grade 5 scholarship 2008 results released today

The results of the grade 5 scholarship examination held last month has been released. Commissioner General of examinations Anura Edirisinghe says the results will be released to schools this morning. The top score this year in the Sinhala Medium is 183. Three students have gained this mark. They are Mihindini Amasha Hapuarachchi of Sirimavo Bandaranayake Vidyalaya Colombo (left) Abeysinghege Don Mahesha Supipi of St. Andrew Central College in Chillaw (centre) Sachini and Anjana Senadeera of Lindsay Girls School Colombo (right).  Island best in the Tamil Medium is Dharmalingam Pasupathan of Meesalai Weerasingham Maha Vidyalayam in Jaffna. He obtained 176 marks. 32 thousand students have qualified to enter popular schools and are eligible for scholarship funds. Principals of Jayawardenapura and Colombo Educational Zones can obtain results sheets at 9.00 this morning. Results will be posted to other schools today. Grade 5 scholarship results will be posted on the internet Monday evening. The exams chief thanks all those who contributed to enable the release of results in one month.

http://www.slbc.lk/he_news.asp?newsid=3531

My illustrious client: Mr. Ranil Wickremasinghe

The title is from a Sherlock Holmes story, where the services of the detective services are sought by the Prime Minister of Britain.

Hope I can use it for the opposition leader. For the first time, I represented him at courts yesterday. I prefer not to go into details. Suffice to say it was only a politically motivated attempt to tarnish the image of Mr. Wickremasinghe, but ended as a flop.

In this photo taken from Lakbima online edition, I am behind Vajira Abeywardene, partially covered by him.

J R Jayewardene: 102th Birth Anniversary of the father of modern Lanka

Junius Richard Jayewardene (September 17, 1906–November 1, 1996), famously abbreviated in Sri Lanka as JR, was the first executive President of Sri Lanka from 1978 until 1989. He was a leader of the nationalist movement in Ceylon (now Sri Lanka) who served in a variety of cabinet positions in the decades after independence. Before taking over the newly created executive presidency, he served as the Prime minister of Sri Lanka between 1977 and 1978.

J.R. Jayewardene, who was the eldest in a family of 11 children, was the son of Hon. Justice Eugene Wilfred Jayewardene KC a judge of the Ceylon Supreme Court. He was schooled at Royal College, Colombo where he played for the cricket team, debuting in the Royal-Thomian series in 1925. He became a lawyer after attaining a distinguished academic record at the University College, Colombo and later at the Colombo Law College.

Jayewardene did not practice law for long, however. In 1938 he became an activist in the Ceylon National Congress (CNC), which provided the organizational platform for Ceylon’s nationalist movement (the island was officially renamed Sri Lanka in 1972). He became its Joint Secretary in 1940. He was elected to the colonial legislature, the State Council in 1943.

After joining the United National Party on its formation in 1946, he became Finance Minister in the island’s first Cabinet in 1947. He played a major role in re-admitting Japan to the world community at the San Francisco Conference.

Jayewardene’s acute intelligence and subtle, often aggressive political skills earned him leading roles in government (1947-1956 and 1965-1970) and in opposition (1956-1965 and 1970-1977). In 1951 Jayewardene was a member of the committee to select a National Anthem for Sri Lanka headed by Sir Edwin Wijeyeratne.

As Finance Minister in D.S. Senanayake’s government, Jayewardene struggled to balance the budget, faced with mounting government expenditures, particularly for rice subsidies. His 1953 proposal to cut the subsidies – on which many poor people depended on for survival – provoked fierce opposition and the 1953 Hartal campaign, and had to be called off.

No government gave serious thought to the development of the industry as an economically viable venture until the United National Party came to power in 1965 and the subject of tourism came under the purview of the Minister of State Hon. J. R. Jayewardene.

The new Minister Jayewardene saw tourism in a new dimension as a great industry capable of earning foreign exchange, providing avenues of mass employment, creating a manpower which commanded a high, employment potential in the world. He was determined to place this industry on a solid foundation providing it a ‘ conceptional base and institutional support.’ This was necessary to bring dynamism and cohesiveness into an industry, shunned by leaders in the past, ignored by investors who were inhibited by the lack of incentive to invest in projects which were uncertain of a satisfactory return. The new Minister Hon. J. R. Jayewardene considered it essential for the government to give that assurance and with this objective in view he tabled the Ceylon Tourist Board Act No 10 of 1966 followed by Ceylon Hotels Corporation Act No 14 of 1966.

This was the beginning of a new industry ignored by the previous governments but given a new life by Minister J. R. Jayewardene. As a result today tourist resorts exist in almost all cities and today an annual turnover of over 500,000 tourists are enjoying the tropical climes and beautiful beaches of Sri Lanka not to mention the enormous amount of foreign exchange they bring into the country.

In the general election of 1970 the UNP suffered a major defeat, when the SLFP and its newly formed collation of leftist parties won almost 2/3 of the parliamentary seats. Once again elected to parliament J. R. Jayewardene took over as opposition leader and de-facto leader of the UNP due to the ill health of Dudley Senanayake. After Senanayake’s death in 1973, Jayewardene succeeded him as UNP leader. He gave the SLFP government his fullest support during the 1971 JVP Insurrection (even thou his son was arrested by the police without charges) and in 1972 when the new constitution was enacted proclaiming Ceylon a republic. However he opposed the government in many moves, which he saw as short sighted and damaging for the country’s economy in the long run. These included the adaptation of the closed economy and nationalization of many private business and lands. In 1976 he resigned from his seat in parliament in protest, when the government used its large majority in parliament to extend the duration of the government by two more years at the end of its six year term without holding a general election.

Jayewardene won a sweeping election victory in 1977 to become Prime Minister. Immediately thereafter, he drew up a new national constitution which created an Executive Presidency with drastic and unchecked powers, and, on its adoption into law, became, in 1978, the first Sri Lankan Executive President. He moved the legislative capital from Colombo to Sri Jayawardanapura Kotte. He opened the heavily state-controlled economy to market forces, which many credit with subsequent economic growth but also with the greater divisions in society.

On the economic front, Jayewardene’s legacy was decisive. For thirty years after independence, Sri Lanka had struggled in vain with slow growth and high unemployment. Since Jayewardene’s reforms, the island has maintained healthy growth despite the civil war.

Jayewardene married Elina Rupasinghe, with whom he had two sons. One of his sons, Ravi Jayewardene was an officer in the Sri Lanka Army and went on to be a presidential adviser on security.

http://en.wikipedia.org/wiki/Junius_Richard_Jayewardene

Bomb explosion near Horton Place, Colombo 7

There had been a bomb explosion near Horton Place in Colombo today around 2.00 pm. No deaths had been reported.

Sri Lankan journalist Sonali Samarasinghe wins international award

Sonali Samarasinghe’s work to reveal misuse of power and corruption in Sri Lanka made her the second winner of the Global Shining Light Award in Norway at the weekend.

“I cannot accept this prize without remembering my colleagues in Sri Lanka. This year, 12 journalists have been killed, and one has been held hostage for 180 days,” Sonali Samarasinghe said when she came to stage to receive the award.

Her colleague, J.S. Tissanayagam has been in custody for 180 days, detained under the Prevention of Terrorism Act.

Samarasinghe was awarded for her articles on “Gangsterism and the faulty legal system” for The Sunday Leader in Sri Lanka.

Sonali Samarasinghe and the Sunday Leader decided enough was enough.

What started out as an attempt to follow-up on the beating of a bar patron by the son and bodyguards of a powerful government minister became an investigation that exposed how that government minister used his power and connections to the Prime Minister, to run roughshod over the media and the justice system.

Samarasinghe tracked down all the people connected to the beating and in the process found many other people, including police officers and lawyers with stories of corruption and brutality by the government minister and his son.

“Hopefully, this award will show that our work does not pass unnoticed internationally,” the prize-winning journalist said on stage.

The International Consortium of Investigative Journalists gives out the award, which is in the memory of the Wall Street journal journalist Daniel Pearl, who was slain by Pakistani militants in 2002.

http://www.lankadissent.com