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‘Corruption led to economic collapse’ - Court

While delivering the judgment, the High Court Judge underscored the far-reaching consequences of corruption in State institutions, observing that such misconduct not only damages the country’s economy but has also contributed to its economic downfall.

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Top Story

‘Corruption led to economic collapse’ - Court

2 hours ago

0
649

‘Corruption led to economic collapse’ - Court While delivering the judgment, the High Court Judge underscored the far-reaching consequences of corruption in State institutions, observing that such misconduct not only damages the country’s economy but has also contributed to its economic downfall.


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Popular Comments

  • Patcitz :A heartbreaking tragedy in the desert. My thoughts and prayers toward Almighty GOD are with the victims and their families.
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  • Saman :Like cholesterol level and heart-attack
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  • Smh :What a fallacy. If the rupee value is decreased or completely lost it has a chain reaction on purchasing power not only for consumers but for the government also to ensure goods and services are available to sustain the country. But don't worry. With this minister's economic understanding the country is in safe hands.
    Read more comments

  • Sheena :It's always an inside job.
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  • RanjithT :Depreciation on its own not an economic crisis. Comrade read economic data. Trade deficit is widening. Trade balance is negative US$ 3.692 billion. Current account that refers to income from goods and services and expenditure from imports and service outflows stands at US$ 0.9 million. It was a surplus from 23 till march 26. What it means is that we do not earn enough exchange to meet import requirements which eventually means we have to borrow or use reserves. Further our primary account also runs at deficit, translate in to simple language we have no exchange to service the interest component of loans/borrowings. Gross official reserves have come down to US$ 6.8 billion. of which US$ 1.4 billion is a swap with China In layman's language we have to borrow to keep afloat. Comrades you got to come out of your ego, accept we are heading towards an economic downturn GDP growth is reduced to 3% which is not adequate to sustain economy and future bond/loan payments.
    Read more comments

  • Bernard :The conundrum that prevails about the huge price at which Laugfs sells it's gas cylinders, which is priced at Rs. 6,245 against Litro's Rs. 4,765 - a major price difference of Rs. 1,480. The govt must explain to the public as to why and how Laugfs is allowed to use its arbitration. We need a response.
    Read more comments

  • Michael Richardson :A lot of Sri Lankas working in the middle east have had to come back to Sri Lanka. The government will feel a big shortage of overseas remittances. Also, there are much fewer tourists coming to Sri Lanka.
    Read more comments

  • Nihal Perera :Not sure how you obtained your doctorate. Your analysis is way off base. However will be able to convince the majority of our people since they are the ones who voted.
    Read more comments

  • It's now or never :Agree. Sri Lanka should also come out of the mindset of expexting handouts from other nations at every crisis. That kind of mindset allows for complacency and we fail to do what we need to do. Dependency on others will not work always when the world as a whole is experiencing the same challenges. Sadly since independence Sri Lanka has become a lazy and unwise nation which had led to it's current predicament. Sri Lanka has surrendered all the advantages Ceylon had and trailing mahind many nations who they were leading once.
    Read more comments

  • Mohammed Alamgir :This insightful article by P. A. Jayakantha perfectly captures the enduring importance of the Chicago Convention and its foundational role in Sri Lanka’s aviation history. I admire the writer Jayakantha, who stands out as one of the most learned and accomplished aviation security experts in the South Asia region. Mr. Jayakantha’s significant contributions to the aviation security framework of Sri Lanka are truly remarkable. Throughout his distinguished career, he played a pivotal role in strengthening regulatory compliance, fortifying oversight mechanisms, and elevating Sri Lanka’s aviation sector to one of the better-performing and most compliant systems in the region.
    Read more comments

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