Harsha challenges Nivard for public debate on IMF standby agreement

20 February 2012 10:52 am - 24 - {{hitsCtrl.values.hits}}

A A A

UNP National List MP Dr. Harsha De Silva challenged Central Bank Chief Nivard Cabral for a public debate on the IMF standby agreement and the economic policy decisions which the government had already taken in accordance with it.

Dr. De Silva who announced this at a news conference today charged that the government had to bow down to the IMF demands in exchange of the next phase of the standby agreement and apparently adjusted the interest rates and cut subsidies. He said the government had also agreed to bring the Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) towards break even following the demands of the IMF.

He also charged that the rupee was also devalued by the government silently despite the claims made by the Central Bank Chief that the devolution was a one-off measure. Dr. De Silva said this was done without informing the Central Bank Chief.

“I am challenging the Central Bank Governor for a public debate as I want to question him about these,” he said.

Besides, Dr. De Silva charged that people had been badly hit by the ego centric economic management policy followed by the government. He therefore explained that the average monthly expenditure had exceeded the revenue. The monthly expenditure had crept up to Rs.31,331 compared to the average revenue of Rs.31,209 according to the latest available statistics.

The UNP MP further explained that the recent fuel hike was not due to the increase of prices in the global market but was a result of unprofessional handling of the economy by the government.

However he said the government’s current approach of a sector based subsidy system is a welcome move but highlighted that the transaction cost of the subsidies should be checked. Citing an example he said an estate sector worker cannot afford to forego his or her daily salary of Rs.400 just to obtain the Rs.200 fuel subsidy offered to them.

UNP Deputy Chairman and Member of the Central Provincial Council K. Velaudam said this is the case with the plantation sector as a worker has to spend one whole day to obtain his fuel subsidy from the cooperative store foregoing one day’s salary. (Yohan Perera and Tharushan Fernando)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 24

Asarana Kolla Tuesday, 21 February 2012 03:10 AM

Come on Harsha.. come on..

Citizen Tuesday, 21 February 2012 08:16 AM

His brother in law is a very respectable man and you clearly have not been into the hotel.

Chandimani Tuesday, 21 February 2012 06:17 AM

Economic Theory is for pass of Examination such as B.A. Degre to Ph.D. in Economics. But, practical Economics is different as it will drive an economy of the country. Harsha, you learned Economics to pass your Doctorate. But that theory it-self is not suffient enough to drive a country as driving of a country is not SIMPLY an academic effort.

Kornelius John Tuesday, 21 February 2012 06:26 AM

IMF giving loans at low Interest rates but attaching conditions to show actual position of what going on in country, true value of SL Rupee etc. Chinese Banks giving loans at high Interest rates without any conditions attached. Sri Lanka Central Bank taking low interest IMF loans to re-pay high Interest Chinese loans. Otherwise country bankrupt, no? So why we are finding fault with IMF for putting conditions? We must ask Central Bank why are we borrowing high Interest Chinese loans, no?

citizen1 Tuesday, 21 February 2012 05:42 AM

no

Sumedha Tuesday, 21 February 2012 05:17 AM

I want to hear alternative solutions to economic problems, not stupid challenges.

Nodrog Tuesday, 21 February 2012 04:45 AM

What will this serve. No matter what the outcome of the debate the band-wagon will carry on regardless.

Roshanaly Tuesday, 21 February 2012 04:21 AM

Why don't the Government make Harsha as a Central Bank Chief, he will perform better than the Present chief.

Jinna Tuesday, 21 February 2012 04:30 AM

How come an accountant can be a Govener of CB. He should have proper educational qulifications.

Kangarro Tuesday, 21 February 2012 03:57 AM

Bring him out to light and show who he is to the people of Srilanka

Chandimani Tuesday, 21 February 2012 03:37 AM

දෙන්නම එකයි.. .. වැඩක් වෙන්නේ නැහැ.. .. අපි හැමදාම පරාදයි.. ..

freelanced Tuesday, 21 February 2012 03:37 AM

Economic theory and practice is not something that is carved in stone. To achieve one objective, there could always be ,any different routes - all linked to the economic policy of whatever the government is, which has received the mandate of the people. Therefore no one can say that route A is better than B or C. There is always a broad degree of subjectivity and debate in either of the routes.

willows Monday, 20 February 2012 11:14 AM

Cabral will never face this challenge

buffaloa citizen Tuesday, 21 February 2012 03:02 AM

What more can you expect from a person whose only prominent job was at his brother in laws sleezy hotel at Colpetty.

Patriot Tuesday, 21 February 2012 01:54 AM

Well done Sir.At least now Please keep on teaching and educating the Central Bank Governor and the GOSL as to how to run the Bank and the economy. Thank you

jaliya Tuesday, 21 February 2012 01:02 AM

Cabral only talks no action! i.e just another politician who hoodwink people let alone a central banker!

laksiri Tuesday, 21 February 2012 01:13 AM

governor must accept this challenge if he is right man or resign from the public post

Jagath Monday, 20 February 2012 12:16 PM

accept the challenge.

phassy Monday, 20 February 2012 12:12 PM

Well said Harsha ! People who have the backbone should come to the public stage.

Ralph Anthony Monday, 20 February 2012 11:57 AM

Do you think he will be brave enough to accept the challenge.

Kondebendapucheena Monday, 20 February 2012 11:55 AM

Stop Challenges and Debate reduce cost of leaving

Ramesh Monday, 20 February 2012 11:49 AM

How come an Accountant come forward to a challenge from a Economist?

DonQuixote Monday, 20 February 2012 11:18 AM

Cabraal has CIMA, De SIlva has a Phd, it may be rather one sided !

Rosh Monday, 20 February 2012 11:11 AM

Good challenge.

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Harsha challenges Nivard for public debate on IMF standby agreement

Comments - 24

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Train fails to halt, crashes onto Colombo Fort platform

Confusion remains if April 15 is a bank holiday

Sri Lanka’s Rupee leads emerging markets in 1st quarter of 2024

Corporal from Air Force Rugby pool killed in police shootout

23 year old youth ends up having his testicles removed

Suspicious death of 23-year-old woman at hotel sparks concerns

MIRROR CRICKET

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

Amir, Wasim return to Pakistan national team

Sri Lanka captain quashes retirement speculation; sets sight on T20 World Cup Qualifiers

TODAY'S HEADLINES

Ruwan calls on Kotte Sri Kalyani Mahanayake Thera

Effectiveness of Sri Lanka’s legal system is questioned over alleged corruption: Chief Delegate

Public inconvenienced due to lack of transport

Ex-soldiers joining Russian military as mercenaries, Sri Lanka seeks details

Mendis, Mathews move up in ICC Test Rankings

Security raised for Champions League ties after threat

SLA target four events at Paris Olympic Games

Chamodi, Dewmi spins Sri Lanka U19 Women to big win