(Letters to the Editor) Promote accountability

Saturday, 31 March 2012 00:00 - - {{hitsCtrl.values.hits}}

The UNHRC resolution was very unfortunate. This is the first time our country has been subject to this kind of scrutiny. As a fan of the President, it is very unfair that he has been subject to such humiliation. The President has been let down by his advisors. In the recent weeks we have seen the deterioration in the economy. Have we ever had a situation where the rupee has deteriorated by over 10% in 60 days? Why? Bad mismanagement? We are now going for new bonds? Who is going to pay for these? The future generations?

What are we going to use this money for? Is it to import more and more cars? See the EPF; it spent the workers money buying Galadari Hotel, Laugfs Gas and Grain Elevators at prices above the market. Now they are stuck with them. Now they are selling the family silver i.e. the ones they should hold?

Where is the accountability of the Central Bank? Your paper has highlighted many times the Central Bank’s lack of credibility and arrogance. The appointments of retired deputy governors to commercial bank boards have not been seen as a good practice. Some of the other appointments made to Commercial Bank and HNB have been severely criticised in the independent media for lack of foresight. The lack of accountability and highhandedness of some of the officials around the President is definitely pulling him down in the eyes of the public. It will do a lot of good for our popular President to take stock of the recent events locally and internationally without being misled by these officials for their personal benefits and ensure his administration becomes more accountable to the voters and work with the international community. We must not forget that over 40% of our exports go to the West and Sri Lanka would benefit very much by engaging our traditional friends without falling out with them.

R. Fernando

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