Columnists

Education should be reformed to create creative capital and not mere human capital

Views - 1998 Monday, 31 July 2017 00:10

The objective of education should be to create relevant and applicable wisdom among students The continued economic prosperity of a nation depends on its having a critical pool of wisdom. Those with wisdom learn from the past


Rescuing tea industry: Time to act global after thinking global too!

Views - 2109 Monday, 24 July 2017 00:01

A nation savouring small gains An important message was delivered to Sri Lanka’s policymakers and bastions in the tea industry by five experts who participated in a live TV discussion on the subject recently (available at: https:/


Privately funded education vs. publicly funded education: Elimination of myths needed

Views - 2732 Monday, 17 July 2017 00:09

Two issues raised by readers Several readers of the last week’s article in this series (available at: http://www.ft.lk/article/627020/SAITM--A-war-unto-a-finish-to-protect-their-interests-by-monopolies-and-oligopolies) on the SAITM impasse


SAITM: A war unto a finish to protect their interests by monopolies and oligopolies

Views - 3223 Monday, 10 July 2017 00:32

GMOA has been in the practice of announcing wildcat strikes demanding the closure of SAITM, crippling the country’s State-sponsored medicare system – Pic by Shehan Gunasekara   A war between monopolies Economist


Green accounting for sustainable development: Much to be done to convert hype to reality

Views - 3040 Monday, 3 July 2017 00:16

Keynote address delivered at Wayamba University’s research symposium To be of use, green accounting has to be accepted by global community as the framework for measuring output at firm as well as national level   


Saman Kelegama: Even the blood running through his veins is oriented to economics

Views - 4605 Tuesday, 27 June 2017 00:10

The bearded economist who saw shortcomings of Sri Lanka’s liberalisation move My association with Dr. Saman Kelegama, Executive Director of the Institute of Policy Studies or IPS, dates back to the early 1990s when I had the opportunity to


Sri Lanka has no choice but to grow with giants

Views - 3694 Monday, 19 June 2017 00:10

Sri Lanka has no choice but to adopt a development strategy that helps it to grow with giants – Pic by Shehan Gunasekara   Nature while creating giants has empowered dwarfs with overpowering cunningness One can accuse


Asking a wings-clipped Finance Minister to fly is a classic repeat of ‘Dunna Dunugamuwe’

Views - 4461 Monday, 12 June 2017 00:01

An unorthodox and illogical functional allocation President Maithripala Sirisena has issued the Extraordinary Gazette Notification dated 7 June 2017 allocating functions among the newly sworn-in Ministers a week ago. In this notification too, th


Missing the bus to prosperity: Sri Lanka should now go for comprehensive reforms instead of savourin

Views - 5411 Monday, 5 June 2017 00:10

Samaraweera’s commitment to policy reforms Finance Minister Mangala Samaraweera, lamenting over the country’s missed opportunities in the past due to not making correct decisions at the correct time, has reiterated his commitmen


New Finance Minister has a Herculean task ahead; he will win only if he moves with foresight

Views - 4389 Monday, 29 May 2017 00:05

New Finance Minister Mangala Samaraweera officially assuming duties at the ministry  – Pic by Pradeep Pathirana   Promise to continue with economic reform program The new Minister of Finance, Mangala Sa


One Belt One Road Initiative: When Donald Trump closes up, Xi Jinping plans to open up

Views - 4753 Monday, 22 May 2017 00:07

Chinese President Xi Jinping together with Heads of Governments including Sri Lanka’s Prime Minister Ranil Wickremesinghe pose for a group picture at the opening of the Belt and Road for International Cooperation Summit in Beijing,


CB Annual Report 2016: Bold in critical analysis and proactive in policy recommendations

Views - 5094 Monday, 15 May 2017 00:21

Release of CB Annual Report 2016 The Monetary Board released its Annual Report on the state of the economy in 2016, commonly known as the Central Bank Annual Report, two weeks ago. The Governor and the senior officers of the bank had in per


Reform of Exchange Controls – Part III: Proposed Foreign Exchange Act, an improvement on many count

Views - 5560 Monday, 8 May 2017 00:04

Making exchange control a permanent law In parts one and two of this series (available respectively at: http://www.ft.lk/article/610886/Reform-of-exchange-controls--There-is-a-need--but-do-it-correctly-%E2%80%93-Part-I and http://www.ft.lk/


Reform of exchange controls – Part II: Bringing exchange controls to the permanent law book

Views - 5841 Tuesday, 2 May 2017 00:00

 The Central Bank implements ECA as the agent of the Government and for that purpose has to create a separate department called the Exchange Control Department     Exchange controls to fight a war In P


Reform of exchange controls: There is a need, but do it correctly – Part I

Views - 6777 Monday, 24 April 2017 00:01

The first Ceylonese Governor of the newly-established Central Bank N.U. Jayawardena ​ Proposal to reform exchange controls without giving details Prime Minister Ranil Wickremesinghe, in announcing the economic policy s


Emerging challenges in the power sector: Unless tackled urgently, future growth is gloomy

Views - 6535 Monday, 17 April 2017 00:10

  SLEA to analyse critical economic issues   The Sri Lanka Economic Association, abbreviated as SLEA, under its new President Dr. Upananda Vidanapathirana, has ventured into generating public discussion of cr


Prof. Dharma De Silva: The unforgettable trailblazer in management education in Sri Lanka

Views - 7018 Tuesday, 11 April 2017 00:10

  Professor Dharma De Silva (extreme left) with Vice Chancellor Rev Walpola Rahula (extreme right) at a book donation ceremony to Vidyodaya University by US Embassy in 1966. Also in the picture are Deputy Secretary K.P.G. Wjayasurendr


Alleged losses at EPF: Monetary Board will open itself to outside inquiry by playing slow mode

Views - 6685 Monday, 3 April 2017 00:03

Massive losses at EPF through imprudent bond deals Media reports last week had referred to an alleged loss of Rs 9.5 billion at the Employees Provident Fund or EPF when it had made some scandalous deals with a primary dealer company now und


Education is not a commodity: but it is and it should be negotiable

Views - 7503 Monday, 27 March 2017 00:10

Students claim that education is not a commodity ‘Education is not a commodity’ has been a popular view almost universally held by Sri Lanka’s student community in higher learning institutions. For them, it is non


US interest rate hike: Sri Lanka has no alternative but to follow the suit

Views - 7139 Monday, 20 March 2017 00:01

US interest rate hike is linked to all other interest rates  The Federal Reserve Bank – the central bank of the United States of America – announced last week that its benchmark interest rate would be increased from 0.7


The inconclusive IMF review and challenges ahead for Sri Lanka

Views - 6337 Monday, 13 March 2017 00:01

The Central Bank’s funding of the Government budget is highly undesirable since such funding would be in the form of creating seed money – known as base money or reserve money – that would generate money supply increases


ABC of Trumponomics: Can it make the US a great nation?

Views - 6302 Monday, 6 March 2017 00:01

US President Donald J. Trump Addressing a joint session of the Congress US President Donald J. Trump outlined his economic philosophy – known as Trumponomics – to a joint session of the Congress last week (


Restoring ‘Economic Democracy’: Is it an elusive goal?

Views - 6517 Monday, 27 February 2017 01:47

President Maithripala Sirisena Promised delivery of economic democracy to people One of the pledges made by the present Government in its election manifesto titled ‘The Five Point Plan for creating a new country in 60 mont


SAITM and private medical schools: One bad start should not lead to throwing away a good idea

Views - 7904 Monday, 20 February 2017 00:01

Opposition to SAITM SAITM, the abbreviation for Sri Lanka's newest private university, South Asian Institute of Technology and Medicine (available at: http://www.saitm.edu.lk/), has been denoting a derogatory meaning in Sri Lankans' pres


Central Bank’s mad rush to mandate credit: Shocking banks is not in accord with PM’s Social Market E

Views - 6439 Monday, 13 February 2017 00:50

  Mandating credit allocation without fanfare The Central Bank of Sri Lanka has, without fanfare or publicised press conferences, issued a one and a half page long circular to commercial banks urging them to maintain a mini


The Good Governance Government should not ignore Sri Lanka’s slipping down on the World Rule of Law

Views - 9270 Monday, 6 February 2017 00:06

King Elara’s observance of the Rule of Law to the letter According to a story in Sri Lanka’s great chronicle, Mahavansa, a Tamil usurper named Elara of the Uju tribe had invaded Lanka in the 2nd century BCE and ruled the northern par


In defence of the Auditor General: The Govt. should not blind its ‘third eye’

Views - 8074 Monday, 30 January 2017 00:26

Auditor General Gamini Wijesinghe An Auditor General under fire by political authorities The Auditor General of the Democratic Socialist Republic of Sri Lanka, a position created by its Constitution, has been of late at the rece


Steamrolling of Central Bank by Minister of Finance: An unsavoury development?

Views - 9140 Monday, 23 January 2017 00:38

An unsavoury rift between the Central Bank and Minister of Finance A growing rift between Finance Minister Ravi Karunanayake and the senior management of the Central Bank is surfacing now, worrying both financial markets and prospective fo


GSP + may be restored but Sri Lanka has to act fast to harness its full benefits

Views - 7378 Monday, 16 January 2017 00:05

A positive report by EU on Sri Lanka A report published by the European Union or EU on 11 January 2017 (available at: http://trade.ec.europa.eu/doclib/html/155236.htm ) has concluded that Sri Lanka has completed all the requirements needed


When a Governor speaks like a Governor.....

Views - 8461 Monday, 9 January 2017 00:15

Central Bank Governor Dr. Indrajit Coomaraswamy When a Governor speaks frankly, the market responds positively When a Governor of a central bank speaks like a Governor, he is sure to receive two types of response. His candid spe


Today's Columnists

Accessibility at buildings and places – Indispensable need to enjoy civil rights

Wednesday, 26 September 2018

Have you not yet realised that the chances are now very high that at any stage or any moment in life, for a short time or for a long time, for different reasons, you or your loved ones could experience physical and/or sensory impediments, and fall in


Over-tourism: The new buzz word in tourism

Wednesday, 26 September 2018

Periodically the tourism industry is in the habit of coming up with some interesting name to describe a new emerging trend or situation in the industry. Sometimes the phenomena is not new, but has become relevant and topical enough to ‘package’ a


Depreciation of the rupee and Sri Lanka’s dilemma

Wednesday, 26 September 2018

The rupee depreciated by Rs. 29 from 2005 to 2014 and the average year-on-year depreciation of the Sri Lankan rupee was 2.8% per year. Official foreign reserves increased from $ 2.7 billion to $ 8.2 billion over the same period. In stark contrast, th


Laurels of ‘Living Together’: Refreshing reflections

Tuesday, 25 September 2018

It was a memorable evening with a mega gathering for a meaningfully different reason. It was not just another book launch with ego-boosting speeches about the author. It was also not an event where a popular politician coming late and preaching about


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