Sunday, March 20, 2016

Protection Rackets are costing the Consumer a fortune! Time to take stock - STOP IT

It is simply ridiculous that the media and government behave as if they have no idea on the level of protection rackets in Sri Lanka, which now results in consumers paying on average 2% more for their purchases as the shop owners and small time businessmen are passing it on to the hapless consumer.

Just to inform you the reader, how inept this and past governments have been in identifying and helping to prevent these has been, there has NOT BEEN EVEN one MP raise questions in Parliament about.

The problem I am told is because many in Govt. and Parliament are beneficiaries in some form or another in these rackets and so they are all swept under the carpet courtesy of the police who are further paid off by these gangs.

I am told that this problem has suddenly got worse as the new Govt. in its Good Governance Cap on are completely oblivious to what is happening under their noses, as broadly speaking they do not confront the problem and no one complains for fear of retribution.

At present it is estimated that 250,000 people pay for protection each week, and the total weekly cost amounts to about Rs10B a week, which is a colossal sum, as it annualized is Rs500B none of which is taxed or is recorded in the books.

Many wealthy provincial businessmen pay this TAX even though they dont pay a dime in Income Tax, as they are all or should be in the Taxable Category, but are not!!!

The tragedy is they don't pay the due tax to the state, so the Govt. can be bailed out of its mess in funding, whilst the underworld thugs are benefiting as well as the Govt. and opposition members from this largesse, that explains how some Politiicans are able to spend such fortunes, when they have no income to show for it!

It is high time the new IGP makes this a priority as it is bleeding the hardworking businessman dry. No foreign inward investment will occur until even this threat is removed, as they come after all these people, and foreign companies have means to pay off the amounts to save their lucrative trade too!

So this is a plea to the Govt. to set up an independent UNIT to investigate this NOT using existing Police Officers, and asking people to notify directly of these protection rackets, by just sending names, amounts and frequency to them with no personal sign off,


As for the 5 in jail for the recent killing of Navy Kapila are now in fear of their lives, as the Police are NOT able to protect them either, for taking the law into their own hands, and a contract has already been put on their lives,

I say they will be better off in remand, but the moment they come out God help them!!

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