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Debt-ridden Sri Lanka snuggles up to China again at India’s expense

Overtaking loans from China had created several crisises in recent times. One such example is Venezuela. China isn't forcing the loans but the country keeps taking without thinking

an article on GoSLs privatization and public and public sector reform strategy to deal with the current situation.
The proposals are well thought but implementation could be hard and Rajapaksa loyalists Specially Vasu ,Gammanpila and Wimal(Three idiots) have already shouted against these proposals including the temaesk style company


Legal reforms frame to handle sick SOEs

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The government is to gradually withdraw from state ownership/management of State-Owned Enterprises (SOEs) by listing some of those in the share market, find strategic investors, resort to outright sale or private management as the country’s economic prospects are severely constrained by its underperformance. Legal reforms will be made in corporate bankruptcy laws to facilitate the handling of sick enterprises as maintaining the SOEs are the worst possible option for a country aiming to be competitive internationally, government sources said. Under the proposed amendments to bankruptcy laws, SOEs will be exempt from the application of the provisions contained in any section of the Act or determine that the passing of any resolution or exercise any power by the shareholders and for the Board of Directors of any SOEs should not be passed, done or effected without the prior approval of the subject minister and the approval of the Cabinet of Ministers.

A firm decision has been taken to close down and liquidate sick SOEs and restructure other entities except Ceylon Electricity Board (CEB), Ceylon Petroleum Corporation (CPC), National Water Supply and Drainage Board (NWS&DB), Sri Lanka Railways and a few others, official sources disclosed. For these public utility entities, the first step would be to move to cost-reflective-pricing. Social protection objectives should be met by targeted income transfers (and cross-subsidisation) rather than unaffordable subsidies. Options should also to be considered to greater competition to provide people with cheaper and better quality services, sources said. They said the International Monetary Fund (IMF) was of the view that state enterprises need to be run on a commercial footing – to avoid losses and the need for financing these losses from state banks.

To accomplish this, these corporations need to be run with the ability to set prices to cost recovery (plus a margin to service investment needs and debts). It is our understanding that the government is already considering automatic pricing mechanisms that could be used to this effect. This was also emphasised by Kalpana Kochhar , Deputy Director in the Asia and Pacific Department of the IMF in an exclusive interview with the Sunday Times. Sri Lanka’s 55 major SOEs out of a total of 127 are to be transformed to profitable ventures with a new management under an independent asset holding company like Singapore’s ‘Temasek Model’ to manage those entities, hopefully ending accumulated losses year after year. The present administration, which intends to follow the same format, is likely to transfer currently government-held shares of SOEs to an entity modelled in line with Temasek.

The past performance reports of the Department of Public Enterprises, Ministry of Finance, identifies a number of factors that contribute to the large losses incurred by the SOE sector. “Loss-making SOEs continue to incur losses due to lack of good governance, low productive use of employees, weak financial management, lack of internal controls and structural deficiencies. It is noted that Boards of Management of some key SOEs, which have often made decisions that were neither socially nor economically viable, violating government policies nor regulations, contributed significantly to the losses incurred by SOEs,” a government note on the issue has stated. -(Bandula)
 
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What the hell is that? Please say something that makes sense you idiot!
Sri Lanka or any country CANNOT take Infra loans from IMF! It's NOT a bank! Any IDIOT knows that! You are just humiliating yourself by repeating the same Bullsh*t all over when I have explained about IMF in this thread.It was created to bail out countries facing BOP crisises and the conditions (Conditionality) are to increase revenue and reduce spending to not only exit the crisis but to ensure that the loan to IMF is repaid later. Even western countries like Greece have those conditions. Without those conditions the country will fall into a worse trap and IMF will not be able to run either.

This is just like your dumb rant saying "Privatization is a crime". And I have explained what Your King did wrong in this thread. Uneducated idiots can be taught but idiots like you can't even Learn. As Gibbs said explainin to you is useless

Are you a retard? I'm referring IMF as the whole money lending entities in the Western world. Don't try to confuse the readers with words. Speak to the point.

Tell me simply what choice did MR had between Western World and China when it comes to loans.
 
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Are you a retard? I'm referring IMF as the whole money lending entities in the Western world. Don't try to confuse the readers with words. Speak to the point.

Tell me simply what choice did MR had between Western World and China when it comes to loans.

You call me a retard after all the retarted nonsese you are blabbering here. As i said you are shamless and naked slave without any intelligence.I am not retarted only you are. You are nothing but ranting complete nonsense here without knowing anything.
Please find some idiot like yourself for thsee jokes.
"referring IMF as the whole money lending entities in the Western world. "
HIKZ retarded to the best.

Retarded like you are the reason why Sri Lanka is in such pathetic state forever. You don't know a single thing here but run nakedly to cover up MR'S crimes. I said it once that I have already said what MR did wrong here. I will NOT repeat my self to retards like you


The fool that said "privatization is a crime" and idioticly praise protectionism that made our industries weak and uncompetitive and then idiotily say that liberlization destroyed our heavily subisded uncompetitive industries when the new private sector boom dragged Sri Lanka out of stagnation, failed import substitution was replaced by export oriented industrialization. Service sectors ,Apparel ,Construction ,shipbuilding sectors etc were developed to compete in the international markets . Rant nonsese about privatization program lacking strategy when your King abolished the agency in charge of the strategy and when there is a really good plan proposed

You should call yourself a retard in front of a mirror
 
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Chinese are there to do business and invest in their overseas interests, They bring money with no strings attached, There is nothing wrong with that

It's the prerogative of the host nations to use those investments wisely.. But what happens is when third world tin pot dictators see this as an opportunity to enhance their ego's with white elephant projects and to siphon off huge chucks in billions for their own pockets.. This is what exactly happened during the last Rajapaksa regime in the country.. And you will see this kind of thing across the third world from sub Saharan Africa to Latin America

But it's still better off that what the so called democratic West is doing, their Halliburton's, BP's, Shell's invade and destroy sovereign nations on the pretext of democracy just to rob the countries of their wealth and for thier arms industries to get chunks off the GDP's of warring nations

While their political benefactors in Washington, London and Geneva preach Human rights
100 % correct it's all mismanagement of funds by Sri Lankans, not Chinese fault. They are here to do business not charity
 
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The title is misleading as SL is neither cozying up to China nor getting away from India.
Sri Lanka only discussed loan issues with China
 
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WTF? Did you even read my previous post? And what the hell is that nonsesical BS?
Your own post shows how ignorant you are, It just doesn't make any sense to even explain!

You start displaying your ignorance.The SriLankan Airline is losing the competetition! Competetition among airlines is too much for the UL specially in the current state Rajapaksa left it in. privatized European Airlines as well as Middle eastern Airlines have already taken over most of UL customers and you are blabbering that it's the governments duty to make it profitable. Disgusting and shameless! The current govt has already reduced losses significantly but the debt remains sky high! Three port cities could have been built for the debt taken by the Sri Lankan.

Sri Lankan Airlines is making loss due to corruption and bad practice of the previous government. I accept it. But there is no need to privatize the air line in order for it to make profit. Sri Lankan civil service should have enough officers with competence. If the government is trying to sell the airliner. We can only guess either the government is incompetent or there is a shady deal going on.

Besides the process of privatizing is also baffling where the government has promised to bear the burden of the debt for a certain time period so that the private owner ship makes profits from the airline. How is that possibly going to help Sri Lanka.

Profitable non strategic enterprises such as LANKA hospitals are the easiest to be privatized it's not something I need to explain. The govt has no use for it Gota only wanted it to fill his pockets. The profit from privatization is needed for urgent fiscal reform and debt repayments. This will have to go alongside several Govt owned hotel development companies. Many people agree that Lanka hospitals will be better with Hemas or Softlogic. The useful ones will be organized into a public wealth trust modeled after temaesk. The govt has a very good plan for prosperity and economic development. Govt can invest in companies and buy assets through that and that alone. Even govt owned banks will be owned by it. I repeat it AGAIn if you don't know ANY THING then just shut up instead of blabbering nonsense just like your power hungry Self proclaimed king.

What you are propagating is a old school capitalist ideology of minimalist government intervention is state affairs. But as far as the modern world is concerned it is an obsolete ideology.

Being the flag career it isnt a tool for state or corrupt politicians Your pathetic excuse to defend Rajapaksa demanding paying customers to be kicked out so he and dozens of his relatives and friends to be given seats for free is a pretty good example for your utter ignorance , blindness and servitude.You came running as usual to cover up your masters nudity in kicking out the best head SriLankan Ever had but you did it with a transparent clothe while you yourself is naked. Explanations like this are good for brain dead zombies like you not for me. You are pretty much showing how Rajapaksa destroyed the Airline unknowingly.

If you remember, that incident happened around 2008 when the war was at it's bloodiest and MR's security was at the highest priority level. He shouldn't have being stranded in a London where he has to cancel several meetings due to death threats. Peter Hill should have known better that the life of the first citizen of the country is more important than the passengers of the aircraft.

Sad thing is every other country tries their best to protect their VIP's while Sri Lankan cry foul over own leaders' protection.

LOL you are patheticly dumb.Local industries lacked the ability to compete internationally. excessive protectionism made them weak. Thanks to The opening up of the economy new industries are coming up that can compete in the international markets. If JR did not open up the economy then we would be still in extreme poverty. Even China liberlized their economy which resulted in the modern China. Chinese would be worse than India if they didn't do it. The Industrialization is NOT "So called" Please get new brain. After President Premadasa's death the development of industries slowed down. Apparel industry was the quickest and the easiest industry to start and get people our of poverty and get them jobs. Sri Lanka was about to transition into newer sectors but couldn't complete it. Singapore was able to reach the final stage and get investments in High tech industries replacing apparel industry.

Local industries was never meant to compete internationally. They were meant to serve the people of Sri Lanka by producing cheaper products at highest quality.

Can you tell me what are the companies that competes in the international market just because of the open economic model.

China and India didn't liberalized their economy completely. Their leaders are no fools like ours. They opened just the necessary places to the global market. That should have happened in Sri Lanka.

What high tech industries Singapore has which replaced apparel industry ?

You call me a retard after all the retarted nonsese you are blabbering here. As i said you are shamless and naked slave without any intelligence.I am not retarted only you are. You are nothing but ranting complete nonsense here without knowing anything.
Please find some idiot like yourself for thsee jokes.
"referring IMF as the whole money lending entities in the Western world. "
HIKZ retarded to the best.

Retarded like you are the reason why Sri Lanka is in such pathetic state forever. You don't know a single thing here but run nakedly to cover up MR'S crimes. I said it once that I have already said what MR did wrong here. I will NOT repeat my self to retards like you


The fool that said "privatization is a crime" and idioticly praise protectionism that made our industries weak and uncompetitive and then idiotily say that liberlization destroyed our heavily subisded uncompetitive industries when the new private sector boom dragged Sri Lanka out of stagnation, failed import substitution was replaced by export oriented industrialization. Service sectors ,Apparel ,Construction ,shipbuilding sectors etc were developed to compete in the international markets . Rant nonsese about privatization program lacking strategy when your King abolished the agency in charge of the strategy and when there is a really good plan proposed

You should call yourself a retard in front of a mirror

You just running away from the discussion cuz you have nothing else to say. I just asked a simple question. Just answer it. Or rather copy and paste what you said earlier. Is that so hard to do?

Privatization is a crime if it is done wantonly.

Apparel industry is competing with what in the international market? What happens in Sri Lanka is companies produce apparels for international brands for lesser cost because our labor is cheap. Where do our apparel companies compete and with whom?

Sri Lankan construction industry don't compete in the international market because they are so insignificant in the international market. Don't lie.

Colombo dockyard do some work for foreign entities but they are so insignificant and obviously not in the league with shipbuilding giants like Hyundai or Samsung.

Just see who rant nonsense now.
 
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Sri Lankan Airlines is making loss due to corruption and bad practice of the previous government. I accept it. But there is no need to privatize the air line in order for it to make profit. Sri Lankan civil service should have enough officers with competence. If the government is trying to sell the airliner. We can only guess either the government is incompetent or there is a shady deal going on.

Besides the process of privatizing is also baffling where the government has promised to bear the burden of the debt for a certain time period so that the private owner ship makes profits from the airline. How is that possibly going to help Sri Lanka.



What you are propagating is a old school capitalist ideology of minimalist government intervention is state affairs. But as far as the modern world is concerned it is an obsolete ideology.



If you remember, that incident happened around 2008 when the war was at it's bloodiest and MR's security was at the highest priority level. He shouldn't have being stranded in a London where he has to cancel several meetings due to death threats. Peter Hill should have known better that the life of the first citizen of the country is more important than the passengers of the aircraft.

Sad thing is every other country tries their best to protect their VIP's while Sri Lankan cry foul over own leaders' protection.



Local industries was never meant to compete internationally. They were meant to serve the people of Sri Lanka by producing cheaper products at highest quality.

Can you tell me what are the companies that competes in the international market just because of the open economic model.

China and India didn't liberalized their economy completely. Their leaders are no fools like ours. They opened just the necessary places to the global market. That should have happened in Sri Lanka.

What high tech industries Singapore has which replaced apparel industry ?



You just running away from the discussion cuz you have nothing else to say. I just asked a simple question. Just answer it. Or rather copy and paste what you said earlier. Is that so hard to do?

Privatization is a crime if it is done wantonly.

Apparel industry is competing with what in the international market? What happens in Sri Lanka is companies produce apparels for international brands for lesser cost because our labor is cheap. Where do our apparel companies compete and with whom?

Sri Lankan construction industry don't compete in the international market because they are so insignificant in the international market. Don't lie.

Colombo dockyard do some work for foreign entities but they are so insignificant and obviously not in the league with shipbuilding giants like Hyundai or Samsung.

Just see who rant nonsense now.
Pathetic BS. I copy pasted what nonsense is that? I am not running away you retard. I recomend you tell something more intelligent but it seems you can't.
Thanks to idiots like you put agricultural industry remains stagnant and unable to move forward.

Our apparel companis are in intense competetoon with BD, Indian and Vietnamese and due to utter idiocy of the former regime we are going to lose US markets to Vietnam when TPP is signed thanks to to the current govt we are now exploring g joining the TPP or signing FTA with the US and US has also welcomed SL.
Our labour costs are cheap? What nonsense is that? SL has very high labour costs for the apparel industry compared to other major exporters. That more nonsese from a idiot that doesn't know anything

They are not incompetent nor shady deals going on. Several polls conducted supported privatization and only a complete idiot like you would support the govt running business in the 21st century. I couldn't find the articles again but I will post them if I find them

If the local industries cannot learn to compete then shouldn't survive.
This is general knowledge, without competition lower quality products are made. High quality products are made because competition. You saying that local industries are their to provide high quality products to the local market is nonsnese, companies compete for higher quality and if they failed to compete then they are not high quality

Who said our construction industry is competing internationaly? I never said such a thing. You ALWAYS make up nonsense like that. I said a major boost however our construction industry has started to partner and compete internationally and are now expanding outside Sri lanka.
The government is not there to do businesses. It's a accepted fact, the government should be spending on education, healthcare and infrastructure while supporting and regulating the private sector and getting revenue through taxation. Stakes should ONLY be held in vital companies.

http://www.sundaytimes.lk/090830/FinancialTimes/ft46.html

There are enormous benefits of the partnership not just profit.

What happened in sriLankan is abuse of power. Rajapaksa should have rserved his seat before and alongside dozens of unncersary people

I am not going to explain it to you again as you keep ranting the same nonsese like I supporting minimalist govt intervention and making up nonsense and asking me to not lie when I didnt say such a thing.
Just see who rant nonsense now.

You
 
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Our apparel companis are in intense competetoon with BD, Indian and Vietnamese and due to utter idiocy of the former regime we are going to lose US markets to Vietnam when TPP is signed thanks to to the current govt we are now exploring g joining the TPP or signing FTA with the US and US has also welcomed SL.
Our labour costs are cheap? What nonsense is that? SL has very high labour costs for the apparel industry compared to other major exporters. That more nonsese from a idiot that doesn't know anything

Yes the intense competition is for the cheap labor. State the correct facts. And also our apparel industry is going to lose the competition because of the higher labor cost.

They are not incompetent nor shady deals going on. Several polls conducted supported privatization and only a complete idiot like you would support the govt running business in the 21st century. I couldn't find the articles again but I will post them if I find them

Your opinion on this matter is not valid. UNP government has very infamous history with the privatization. The most recent example is the privatization of the Palawatta plantation to Daya Gamage in 2002. So how can we not be skepticle about Ranil and his henchmen.

No sane economist would suggest that privatization is the way forward in 21st century. Modern economists argue that healthy government intervention is vital for balanced society.

If the local industries cannot learn to compete then shouldn't survive.
This is general knowledge, without competition lower quality products are made. High quality products are made because competition. You saying that local industries are their to provide high quality products to the local market is nonsnese, companies compete for higher quality and if they failed to compete then they are not high quality

In a protected economy local industries are encouraged to compete with other local competitors where every one has fair competition. Anyone with brain knows local companies cannot fight with giant international companies.

The government is not there to do businesses. It's a accepted fact, the government should be spending on education, healthcare and infrastructure while supporting and regulating the private sector and getting revenue through taxation. Stakes should ONLY be held in vital companies.

What is the criteria to decide which one is vital and which is not.

@Godman These are the point you neglected earlier. Please add your valuable comment for these points as well. @Gibbs can also assist Godman if he struggles to reply.

[/QUOTE]Sri Lankan Airlines is making loss due to corruption and bad practice of the previous government. I accept it. But there is no need to privatize the air line in order for it to make profit. Sri Lankan civil service should have enough officers with competence. If the government is trying to sell the airliner. We can only guess either the government is incompetent or there is a shady deal going on.

Besides the process of privatizing is also baffling where the government has promised to bear the burden of the debt for a certain time period so that the private owner ship makes profits from the airline. How is that possibly going to help Sri Lanka.[/QUOTE]

[/QUOTE]
If you remember, that incident happened around 2008 when the war was at it's bloodiest and MR's security was at the highest priority level. He shouldn't have being stranded in a London where he has to cancel several meetings due to death threats. Peter Hill should have known better that the life of the first citizen of the country is more important than the passengers of the aircraft.

Sad thing is every other country tries their best to protect their VIP's while Sri Lankan cry foul over own leaders' protection.[/QUOTE]

[/QUOTE]
Can you tell me what are the companies that competes in the international market just because of the open economic model.[/QUOTE]

[/QUOTE]
China and India didn't liberalized their economy completely. Their leaders are no fools like ours. They opened just the necessary places to the global market. That should have happened in Sri Lanka.[/QUOTE]

[/QUOTE]
What high tech industries Singapore has which replaced apparel industry ?[/QUOTE]
 
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Yes the intense competition is for the cheap labor. State the correct facts. And also our apparel industry is going to lose the competition because of the higher labor cost.



Your opinion on this matter is not valid. UNP government has very infamous history with the privatization. The most recent example is the privatization of the Palawatta plantation to Daya Gamage in 2002. So how can we not be skepticle about Ranil and his henchmen.

No sane economist would suggest that privatization is the way forward in 21st century. Modern economists argue that healthy government intervention is vital for balanced society.



In a protected economy local industries are encouraged to compete with other local competitors where every one has fair competition. Anyone with brain knows local companies cannot fight with giant international companies.



What is the criteria to decide which one is vital and which is not.

@Godman These are the point you neglected earlier. Please add your valuable comment for these points as well. @Gibbs can also assist Godman if he struggles to reply.

Sri Lankan Airlines is making loss due to corruption and bad practice of the previous government. I accept it. But there is no need to privatize the air line in order for it to make profit. Sri Lankan civil service should have enough officers with competence. If the government is trying to sell the airliner. We can only guess either the government is incompetent or there is a shady deal going on.

Besides the process of privatizing is also baffling where the government has promised to bear the burden of the debt for a certain time period so that the private owner ship makes profits from the airline. How is that possibly going to help Sri Lanka.

If you remember, that incident happened around 2008 when the war was at it's bloodiest and MR's security was at the highest priority level. He shouldn't have being stranded in a London where he has to cancel several meetings due to death threats. Peter Hill should have known better that the life of the first citizen of the country is more important than the passengers of the aircraft.

Sad thing is every other country tries their best to protect their VIP's while Sri Lankan cry foul over own leaders' protection.

Can you tell me what are the companies that competes in the international market just because of the open economic model.

China and India didn't liberalized their economy completely. Their leaders are no fools like ours. They opened just the necessary places to the global market. That should have happened in Sri Lanka.

[QQUOTE]
What high tech industries Singapore has which replaced apparel industry ?
[/QUOTE]

You have a problem of reading don't you? Why spam the same question that were answered all over again? It seems your Rajapaksa fetishism is now getting worse repetedly spamming about his security for the clear abuse of power hikz

Do some research on your own idiot. Don't you have the brains for even that? Is it so hard to Google about Singaporean electronics industries?

Also Tagging me is useless don't do that I only see your posts when I want to because you are in my ignore list. I said I am not going to explain as you cannot understand even A,B,C even this is all nonsense
 
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You have a problem of reading don't you? Why spam the same question that were answered all over again? It seems your Rajapaksa fetishism is now getting worse repetedly spamming about his security for the clear abuse of power hikz

Do some research on your own idiot. Don't you have the brains for even that? Is it so hard to Google about Singaporean electronics industries?

Also Tagging me is useless don't do that I only see your posts when I want to because you are in my ignore list. I said I am not going to explain as you cannot understand even A,B,C even this is all nonsense

I have done my own research. It seems that you haven't.

If you don't respond positively to fellow commentors what is the purpose of you coming to a forum?
 
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The title is misleading as SL is neither cozying up to China nor getting away from India.
Sri Lanka only discussed loan issues with China

Media sensationalism.

SL will follow a balanced approach. Obviously China has way more economic leverage than India currently so it makes sense for Sri Lanka to approach them for funding on good terms for economic projects.

Why this causes butthurt among many Indians and whomever else surprises me.

But the onus is on SL now to efficiently create new economic capacities for its population. It should not seek to be in long term business of exporting significant (from its context) human capital to Middle East and other places.

@Gibbs is right when he mentioned that it is on the onus of the local administration and businesses to not create white elephants and prestige projects but to use transparent and world standard/advised methods in creating long term sustainable jobs and wealth for SL people within SL.
 
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I have done my own research. It seems that you haven't.

you have done your research and I havent?:rofl: more of your :blah:
I asked you to look at Singaporean electronic and cicuit industries and it seems you dont have the brains to do that?
In a protected economy local industries are encouraged to compete with other local competitors where every one has fair competition. Anyone with brain knows local companies cannot fight with giant international companies.

Is this your research? Anyone witha brain and decent education and knowldge on the subject knows this is just made up nonsense just like everything you say. Your "research" is nothing more than nonsnese you make up and this is just one example of the many nonsescial BS you made up spammed here. I even have experaince on how these work , just stop making up nonsense. A product that is cheap and high quality cannot be wiped out because you call something a "Giant International company".
there was no such competetion before JR came in fact most of our industries were stagnant ,protectionism only destroys our economy and now its the Agricultural industry which remians heavily susided and closed which has resulted in stagnation.

I have no reason to reply to dim wits like you who keep making up nonsense and lies just because you dont know anything. A idiot who is against boosting tax revenue in a country with low tax revenue and opposing economic liberalisation and the same time demanding to enjoy "benefits of socialism" pbviously doesnt know anything about economics. and as you are incapable of learning I don NOT have to teach you
 
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you have done your research and I havent?:rofl: more of your :blah:
I asked you to look at Singaporean electronic and cicuit industries and it seems you dont have the brains to do that?

I didn't brought the Singaporean electronic and cicuit industries topic to the discussion. You have brought it up. Honestly I have not done any study into Singaporean electronic and cicuit industries. There it will take a fair amount of time for me to go through all the documents to get a fair understanding of the topic.

However, it seems that you have done some research into Singaporean electronic and cicuit industries and therefore it's your responsibility to point out where to look for quick info on Singaporean electronic and cicuit industries in the internet.

A product that is cheap and high quality cannot be wiped out because you call something a "Giant International company".

Ok back your statement up.

there was no such competetion before JR came in fact most of our industries were stagnant ,protectionism only destroys our economy and now its the Agricultural industry which remians heavily susided and closed which has resulted in stagnation.

Sirima government had it's own issues and it was not a perfect method. Though it had it's own merits. As you said competition was lower among the local firms during Sirima administration. But, there were capable local industries and businesses that had shown promising prospects in the longer run. What JRJ had to do was protect those industries and promote competition among the similar companies. But instead he completely opened the economy to the world effectively destroying most of the industrious local companies.

What you mean by agricultural industry is subsidized and closed? Are you suggesting that we should import every agro products from elsewhere for lower cost?

I have no reason to reply to dim wits like you who keep making up nonsense and lies just because you dont know anything. A idiot who is against boosting tax revenue in a country with low tax revenue and opposing economic liberalisation and the same time demanding to enjoy "benefits of socialism" pbviously doesnt know anything about economics. and as you are incapable of learning I don NOT have to teach you

There were no need to increase the tax except for the populist election promises such as 10,000 Rupee pay hike for government employees and lower oil prices. Yahapalana government is responsible for the fall of the Sri Lankan economy in the last 1 1/2 years. Still there are no strategic plan for the economy and the decision makers are reeling from one side to the another in confusion.
 
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