Letters to the editor

EPF and stock market

I was sad to see in the FT that EPF has begun to purchase stocks in the market again. Is it to give the market a boost or is it to fatten someone’s pocket again, as some people claim? It was not very long ago that the fund made so much of loss by buying Galadari Hotel, Laugfs and Grain Elevators stocks beyond the market price.

Without doing something effective to recoup the loss and give the workers of this country a decent return, why are they buying again? Who is taking these decisions? This is like the country squandering US$ 2 billion of borrowed money to keep the rupee at 112.

People in this country foolishly used the low interest and the attractive exchange mostly for consumption. This is despite the Treasury pleading for sanity because of balance of payment problems. As a result, fuel prices had to be increased by over 30% and now electricity.

When officials mismanage and ruin public institutions and run the economic system to the ground, the guilty are either removed or taken to task for negligence. But the administration of President Mahinda Rajapaksa, who is known for being voter sensitive, keeps the same people afloat and allows them to repeat the same mistakes over and over again.

The time has come to clean up the stables in the economic administration and put competent people with integrity to manage the EPF and the Central Bank to protect the good name of the President. We, the public, cannot take any more increases. I am appealing to you, Editor, to interview the people who run the EPF and tell them to stop this madness.

Priyantha Perera

 

Mutual respect

With my vast experience I gathered from living in society, including school, university, work place, neighbourhood, etc. I observe the following.

1.We prefer to be associated with people of our calibre only who satisfy one or more of the following norms:

a.Wealth

b.Education

c.Social status

d.Popularity

e.Relationship

f.Race

g.Religion

h.Cast

2.We select these norms to satisfy our needs. E.g. a millionaire (A) prefers to be associated with millionaire (B) who may be of different religion, race or cast (money is important).

3.We never recognise the ambitions and rights of other people who do not come under our group. E.g. even when a party is given we look after the needs of our guests but do not show any interest towards our servants or helpers who had assisted us.

4.We prefer the people of other groups to change according to our taste for due affection and recognition

5.We create hatred towards other groups. E.g. we consider people having different eating habits (consumption of dogs, snails, snakes, etc.) as barbarians and do not prefer to eat at the same table with them unless the connection is beneficial to us.

6.We shamelessly copy the way of living, culture, style, etc., of people whom we adore, thereby ignoring our culture, originality, etc.,  though it may be injurious to our health and morals (Western music, dress, dance, liquor, fast food, etc.)

When we are following our own style, culture, etc., we should respect the feelings of other groups. I understand Mahatma Gandhi served meat in his own ashramam (despite the dissatisfaction shown by his followers) when he met Muslim delegates.

It is high time for us to realise the importance of unity and we must drop all these differences and recognise all as equals. There is a proverb ‘birds of a feather flock together’. It should be changed to ‘birds of a nest’ (kakka and koha) or ‘birds of a tree flock together’.

I hope year 2012 could be a year of unity.

S.R. Balachandran