Thursday, May 12, 2016

Economic Mismanagement being a Governance Problem

The Verite Research analysis in today’s Daily Mirror re the above likens running the Country to a Private Company being run, where the Owner is likened to the Public and the Manager the Agent who runs it being the Elected Representatives who have a fiduciary duty to the Owner, as there is an element of trust in the relationship, and can be fired if that is broken or the performance is NOT up to scratch.

The glaring figure, that explains MUCH OF WHAT WE ARE SUFFERING FROM TODAY, is the HOLE of Rs330Billion (256+74) created by the Govt. post its 2015 election win to give the goodies to the people as promised, which to me seems to be the Catalyst to why we are now having to pay for this with taxes on everything we spend on, increased to pay for it.

Frankly the astounding import of 700,000 vehicles to Sri Lanka in 2015 also explains how the people said thanks by importing so many vehicles, that we are NOW suffering from the effect of too many traffic jams and an air pollution disaster in the making.

Elections in that sense have lead to the downfall of the Country, as in every election cycle, the short term solutions are at the expense of HUGE LONG TERM COSTS that our people have to bear for their own greed and inability to realize that the election gimmicks are an unacceptable price of our foolishness.

It is all the more important now that after the checks and balances are put in place for good governance, that they are followed by procedures that have teeth in law, so that none attempt to circumvent these good governance practices which will then lead to the downfall of the very notion that we are now hanging our hat on.

If the Country is to have a future, we must understand the importance of these practices, and everyone tasked with managing the assets and dictates of the people are cognizant of the trust placed upon them NOT to be tempted to fatten their personal interests over those of the Country they deem to serve.

This calls for a huge change in the culture of the people and whether that is possible in light of daily encounters is the million dollar question. We just don’t want a repeat of the daylight robbery of the nations assets we witnessed in the last 11 years in this Country,

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