Thursday, November 24, 2011

What Incompetent Authorities to manage important enterprises?

We in the Banana Republic have just been informed that the Cabinet has appointed the Government Agents of Hambantota, Moneragala and Badullla as Competent Authorities to run, Pelwatte, Sevanagala Sugar Industries and Colombo Commercial Ltd. Any person with a pea brain will know that these people do not know one end of the sugar cane from another, and will appoint sycophants of the rulers to mismanage these now public institutions in any manner they wish. This dangerous precedent has not elicited any word from people with common sense, as either we do not have any with such sense, them being uncommonly sensible or have been silenced by threats or bribery.

The crash daily crash in the market down where the 6000 barrier was broken today, down to 5900 does not seem to worry the rulers as they are surrounded by yes men. Oh they will tell the big man don’t worry we will take more protection money from the Peliyagoda Fish Market and when the market falls a further 1000 points we will buy into the market and you will get a fare share too and we will own every share in Sri Lanka. These are the people that the rulers listen to and so do not get concerned. To add insult to injury the PLC share issue was the first time in history that a premium could not be maintained for even 5 minutes on market opening before it crashed below now trading a whole rupee below the issue price.

THERE IS A SERIOUS CREDIBILITY ISSUE and as long as the rulers live in isolation from reality they cannot understand the importance of their actions and how badly it has shaken the confidence of private industry.

When the country is going out of its way to self destruct and there is no one really concerned about it, it seems that we deserve to slide into oblivion. It is even more galling when statements are made that it is development based on a nationalistic outlook, but non nationalistic but purely personal motives are actually intended, using nationalism as a cover. Whilst the Expropriation Act talked about paying compensation immediately there appears on the face of it no hurry to do so as some of the parties involved are still in litigation on the very takeover.

I cannot believe that we are living in a time when not a day goes by and soon it will be not an hour goes by without a further erosion of liberty, freedom, rights to defend one’s own property from state sponsored terrorism, freedom to gather in a public place to protest against all the above injustices. However in the normal scheme of things and the circle of life, things have to get worse before it gets better. For the sake of Sri Lanka let us hope that we reach this bottom soon.

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