Friday, October 9, 2015

Its time The Bloated Ballooned Mandarins of the Central Bank, have their HOT AIR PRICKED AND BURST!

The Prime Minister’s justification for the Central Bank transfers is the best indication of the need for a complete overhaul of the recruitment of the Human Resource required to run the Country’s Monetary Policy.

I challenge, that though historically being admitted to a professional position in the Central Bank, was considered the crème de la crème of Govt. Jobs, the present crop of entrants, within the past 20 years, coming out of a very poor state University Background, though given a chance of Post Graduate training in foreign Universities, DO NOT have dynamic, radical or free thinkers, willing to present and defend new methods in tackling their jobs for the overall benefit of the state.

The security of tenure afforded them, (human nature being what it is) permits them to defend their turf, build their little fiefdoms, and become primadonnas who do not listen to different reasoning. That is why they appeared so offended at the scheduled transfers, insinuating that they were of the Governor taking revenge for insubordination!!!

There is nothing much we can do about the current invertebrates within, except hope some of them can be weaned out of there. However new entrants should ONLY be taken for contracts up to a maximum of 5 years, and if they are sent on Post Graduate training, be willing to ante up 50% of the cost. This hitherto freebie is at the bottom of the rot.

The new recruits will be hired at competitive salaries in the Private Sector, so there would be no problem of recruiting the best for the jobs. They will NOT be eligible for pensions, as that has been another area for employee dissatisfaction, as the extremely generous pension plan as compared with the lesser mortals elsewhere does not seem to be adequate for these holier than thou sorts!

It is therefore very important that we don’t lose sight of what the Central Bank is. It MUST make extremely institute decisions that affect the economy adversely if wrong, and therefore cannot be left to professionals who have lost sight of why they have a job at the Central Bank, a fact common to 99% of the current staff.

They appear to want to find a scapegoat in the guise of the current Governor to hide behind their obvious incompetence, permitting the previous egregious regime to make extremely costly treacherous decisions that will affect the future livelihoods of Sri Lankans.

Time to clean up shop, give the expert in Banking Supervision the job of running the tuck shop, and getting a new age thinker to take it to the next level.  

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