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Sri Lanka will not be sold

17 February 2010 01:07 pm - 104     - {{hitsCtrl.values.hits}}



By Jamila Najmuddin

Sri Lanka is not prepared to be sold in order to regain the GSP plus facility from the European Union and will maintain its policy stand instead of giving in to any unfair demands, Central Bank Governor Ajith Nivard Cabraal told Daily Mirror online.

In an interview with the website this evening the Governor also noted that the country will not be hurt by the loss of the GSP Plus concession from the EU as all the remedial measures have been taken to maintain the economy minus the trade concession.

“I agree that for us the GSP+ concession being removed is a risk. However on October 29th last year we informed the entire country on how we would deal with the loss of the GSP+ and how we have prepared ourselves. We have reiterated that position today,” Cabraal said.

When questioned on how the country has prepared itself with the loss of the benefits, Cabraal said that for the past one year, the exchange rate of the country had been adjusted, interest rates lowered and inflation reduced. He added that companies had also adjusted themselves accordingly as they too were aware of the risk of losing the trade benefits by the EU.

“We have adjusted our exchange rate in such away that the people can continue the enjoy the same amount of money that they had.  Also at the time that this whole debate was spoken of our interest rate was something like 19%. Today it is down to 11% or 12%. Therefore there has been a major reduction. Our inflation at that time was also much higher than what it was today,” Cabraal said.

Meanwhile when questioned if the government would give in to a human rights probe by the EU in order to regain the GSP+ benefits, Cabraal said that the government would not give in to certain demands by the EU in order to safeguard the sovereignty of the nation.

“If the government was giving in, to certain things, they would have given in by now. There were so many times that they wanted certain things to be done which the government was not in a position to do because they did not want to barter the sovereignty of the nation. So that position remains. Some other governments would have even sold their country to get the 7% concession. But that is not the way this government has worked. This government has taken a certain policy stand and the people have stood by it. If we take the Presidential Election, there was one candidate who said he will win under any circumstances. But the people did not vote for that candidate. The people wanted the candidate who said he will not barter the sovereignty of this nation. That’s the responsibility the President has taken to safeguard the people of this country,” Cabraal said.  (Daily Mirror online)

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  Comments - 104

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  • Wednesday, 17 February 2010 01:13 PM


    Wednesday, 17 February 2010 01:17 PM

    Mr. Kabral does not describe or explain in details of the measures taken in order to regain the loss but he plainly says that they have taken care. Mr. Kabral please note that LOSS IS A LOSS no matter big or small. Your business ideology sucks.

    Wednesday, 17 February 2010 01:17 PM

    Election Time, another show of phony-patrotism.

    Wednesday, 17 February 2010 01:19 PM

    Is asking for good governace, transparency in delings, media freedom, respecting human rights unfair demands...? Then what is fair demands...?

    Wednesday, 17 February 2010 01:24 PM

    Already sold to China and India.

    Wednesday, 17 February 2010 01:26 PM

    Mr Cabral, You have got it all wrong man.. What the basic demand from the EU is good governance and respect human rights. This type of talk is good for the gallery and to mislead our fools..

    Wednesday, 17 February 2010 01:32 PM

    Yes, as long as Gov'ner gets his pay packet, to hell with the average workers who will be out of jobs!

    Wednesday, 17 February 2010 01:33 PM

    Pls do not spoil the future of Sri Lanka, with such big talks

    Wednesday, 17 February 2010 01:36 PM

    No one expects to sell Sri Lanka. In order to maintain the nationalistic feelings of the Sri Lankan CBG states this.
    Why should'nt the Government focus on establishing the laws required for goood governance in Sri Lanka. If the laws are in place no one - specially the governing politicians - could tame matters for granted. The general public will get the benefit of such laws. The shining example is that the President has to instructed, the IGP that any Media personnel - if to be taken into custody - should be brought to his knowledge prior to doing so. This shows a President of the country has to intervene to ensure justice, as he understood that an Ediotr had been imprisoned without any charges for a period of 19 days. So it is high time the government act with sincereity to be eligible for any conessions that are made available by developed countries who are willng to share there wealth and help develping countries - such as Sri Lanka. . RANJITHA

    Wednesday, 17 February 2010 01:37 PM

    Another big mouthed Bureaucrat of Sri Lanka who speaks out without weighing out the future consequences.

    Wednesday, 17 February 2010 01:39 PM

    Of course no body wants to buy sri lanka with millions of problems.

    Wednesday, 17 February 2010 01:39 PM

    Well said sir!!!!!!!!!!!!!!!!!!
    We are a proud nation and we have to show them that.

    Wednesday, 17 February 2010 01:39 PM

    Good. The time has come for us to stand on our own feet, rather than going begging after the western world.

    Wednesday, 17 February 2010 01:42 PM

    don't worry, no one is interested in buying Sri Lanka!

    Wednesday, 17 February 2010 01:42 PM

    You are not the person who decide it. It should come from politicians

    Wednesday, 17 February 2010 01:43 PM

    So, whilst your perks are guaranteed, the nation and the poor should bear the brunt!

    Wednesday, 17 February 2010 01:45 PM

    Yep. How can the goose that lays the golden eggs be sold? Here they go again with same old tune "We can do without the GSP+". Tomorrow again the EU will be endgaged... Make up your minds for God's sake !

    Wednesday, 17 February 2010 01:49 PM

    In which way SL sold to India???? why not IRAN Funny Sri Lankan always drag INDIA for any conflict that is in LOVE Lanka

    Wednesday, 17 February 2010 01:50 PM

    GOLD Businees

    Wednesday, 17 February 2010 01:51 PM

    That's true

    Wednesday, 17 February 2010 01:55 PM

    Proud in what????? we are proud for decented from Ani histery tell. in that we are proud how generation came

    Wednesday, 17 February 2010 01:56 PM

    do not want to sell sri lanka to get GSP.. it can obtain just ensuring fundamental rights of people

    Wednesday, 17 February 2010 02:03 PM

    Soon this country will be another Zimbabwe.....May be china and Russia will send aid package...and Mynamar send free rice.....and Iran will send free oil....SUBA ANAGATHAYAK

    Wednesday, 17 February 2010 02:04 PM

    how much they offer for Srilanka.pls tell us

    Wednesday, 17 February 2010 02:05 PM

    Do not put your foot in your mouth....

    Wednesday, 17 February 2010 02:07 PM

    after all fox told grapes TITTAI hhhhhaaaaa.......

    Wednesday, 17 February 2010 02:10 PM

    Yahh Good news we can save some money no need to sue EU now.Friends no trips/holiday to Europe to file case against EU. Baka Baka Yahhhhh

    Wednesday, 17 February 2010 02:12 PM

    The President knew right along about the unlawful arrest and detention of the journalist released this week.
    His instruction to the IGP is another political stunt..Baba Part.
    Good try mr president

    Wednesday, 17 February 2010 02:13 PM

    would be interesting if you shout out with big open mouth if your job is in danger sir! Its only the jobs of thousands of poor people in danger...so think first and than speak out.

    Wednesday, 17 February 2010 02:23 PM

    Show what - how stupid we are not having democracy and boasting about it !!

    Wednesday, 17 February 2010 02:33 PM

    Are you related to MR?

    Wednesday, 17 February 2010 02:33 PM

    We have to show them waht " boru talks.... " fed up of talks.... Please do somthing to save our country.....

    Wednesday, 17 February 2010 02:44 PM

    Do you have any idea to sell it?

    you are only central bank governor did a lot of damage to our beloved country? Isn't it enough?

    Wednesday, 17 February 2010 02:44 PM

    Those who comment against this persons view are the poeple who want to sell this country for cheap. I don't think even Ranil will do that.

    Wednesday, 17 February 2010 02:45 PM


    Wednesday, 17 February 2010 02:46 PM

    Sour grapes!

    Wednesday, 17 February 2010 02:48 PM

    Of course! everything sold to India and China and nothing left to sell!.

    Wednesday, 17 February 2010 02:51 PM

    Let us be more sensible in what we say..

    Wednesday, 17 February 2010 02:55 PM

    We will pay you in dollars Ajith :-)

    Wednesday, 17 February 2010 02:56 PM

    Sri lanakan fools will trust this kind of talk and vote to MR again

    Wednesday, 17 February 2010 03:03 PM

    What kind of proud you have now

    Wednesday, 17 February 2010 03:05 PM

    what is there to be proud about my friend?

    Wednesday, 17 February 2010 03:07 PM

    Why do you want handouts, guys? Can't we for once be proud of our country, the only one, which had eliminated a terrorist group and won a war? GSP+ is for themselves and not for our country. Its a ploy to get cheap goods and keep countries like ours poor!

    Wednesday, 17 February 2010 03:15 PM

    The government has been begging and will continue to beg for a foreseeable future. There is no doubt about this. It's only that SLG is showing a brave face in front of the rural folks.

    Wednesday, 17 February 2010 03:15 PM

    We are sick of hearing such remarks. Seem to be a new epidemic in the recent history of Sri lanka.

    Wednesday, 17 February 2010 03:17 PM

    Govoner ....I guess you are an eduated man. Please do not talk like the Deffence Secretary. This why you guys get into trouble with the western nations.

    Wednesday, 17 February 2010 03:55 PM

    hey man,
    how ccome human rights in sri lanka become a peace to sell

    Wednesday, 17 February 2010 03:55 PM

    Gold indeed...That nice Mr Cabraal recently purchased TEN TONNES of Gold from the IMF for the CB...I assume as its much easier to take cash out of the country in gold than in Rs!

    Wednesday, 17 February 2010 03:55 PM

    This guys taking care sounds dangerous...what will he give if I loose the job as a result ?????????????? need firm answers

    Wednesday, 17 February 2010 03:56 PM

    we cannot compete with Bangladeshi prices my dear ?? get real

    Wednesday, 17 February 2010 03:58 PM


    Wednesday, 17 February 2010 03:59 PM


    Wednesday, 17 February 2010 04:01 PM

    This shows how much educated you are ....

    Wednesday, 17 February 2010 04:02 PM

    You are Correct. Nothing is left to sell.

    Wednesday, 17 February 2010 04:05 PM

    Ariya. wake up from your wet dreams!
    EU just ask the GoSL to respect the human rights and to practice good governance not more and not less.

    Wednesday, 17 February 2010 04:05 PM

    To Russia too.

    Wednesday, 17 February 2010 04:07 PM

    This guy was blabbering something similar last year before getting the World bank aid, isn't he? Then they went on begging and got it done. All forgotten!

    Wednesday, 17 February 2010 04:08 PM

    to Russia too. Iran and Burma on Line

    Wednesday, 17 February 2010 04:16 PM

    You are absolutely right. Those blinded by political animosity do not see it.

    Wednesday, 17 February 2010 04:19 PM

    your job is not on line, nivad, poor folk's are. so fix it, before you loose yours after gen election.

    Wednesday, 17 February 2010 04:21 PM

    Up until a few years ago we did not have GSP (and our garment exporters were well established back then) and we dont need to fall for this EU/UNP hype about GSP.

    Wednesday, 17 February 2010 04:33 PM

    You seems to be a thick and a close pal of President Mahinda Rajapakshe. Well you dance according to his music so that you are up on the deal. Good luck....

    Wednesday, 17 February 2010 04:35 PM

    please dont let srilanka down ajith..

    Wednesday, 17 February 2010 06:38 PM

    The GOSL has been begging and will continue to beg from the world. It's only showing a brave face in speeches and interviews ...

    Wednesday, 17 February 2010 06:50 PM

    Is there any way to file a case against the officials who are directly responsible for the loss of GSP+ ? ? ? Can I, at least, file a case against this Gabraal ?

    Wednesday, 17 February 2010 07:03 PM

    Beggers have no choice. Simple LOGIC !

    Wednesday, 17 February 2010 07:11 PM

    'Thumbs-up,' to the government's decision!

    Wednesday, 17 February 2010 07:18 PM

    Well said Mr. Cabraal & thank you for shunning this 'carrot,' which they keep dangling over our head, all the time.

    Wednesday, 17 February 2010 09:23 PM

    The 'joker' of the card pack ... Have we forgotten that the Central Bank hedged oil when it was $140 US per barrel? ... It's now just $80.

    Wednesday, 17 February 2010 10:50 PM

    'Ohoma yang'! 'Ohoma yang'! 'Dawasaka raten witharak paninna epa'!

    Wednesday, 17 February 2010 10:58 PM

    We have already been sold to China and India. What are you claiming now?

    Wednesday, 17 February 2010 11:34 PM

    Mr. Gabral, you'll are not going to suffer in anyhting - enjoying perks with your families and friends. It is the people of Sri Lanka, who will suffer!

    Wednesday, 17 February 2010 11:35 PM

    A disgrace, to the accountancy profession.

    Thursday, 18 February 2010 12:02 AM

    Mr. Cabraal is a political appointee and his job is to keep the government happy. He is getting paid, 'BIG TIME,' to do just that. Does he even care about the women whose livelihoods depend on the continuance of GSP+?

    Thursday, 18 February 2010 03:00 AM

    At a time when Euro, Dollar deprecating and the whole world is crumbling with this mega economic crisis, we were able to win the war and stability of our currency, inflation, GDP, per capita etc. We are in a process of economic transformation, and what we need is the investor confidence. The European Union is on the verge of collapse. Yet, you have managed the inflation and exchange rate remarkably. I cannot comprehend majority of commentators’ blindness. These people pray for their own county’s economic collapse. There is no difference between them and LTTE Diaspora. BTW, majority of investors are none other than Sri Lankan expats. They follow Bloomberg, CNN money etc and aware the importance of achieving economic resilience. Majority of Sri Lankans and patriots are with your team. We all need to promote one voice to build investor confidence without getting distracted by these unpatriotic people.

    Thursday, 18 February 2010 04:50 AM

    well said sir::::: we are with you all ways;;;;
    US UK should focus on their own affairs rather than poking their fingers to our problems: because their economies are going down and their gvmnts getting unpopular day by day
    no need to go behind and beg like some of the people here;
    its a shame that some people cant understand the reality;
    time will tell: wait and see

    Thursday, 18 February 2010 05:23 AM

    Because of your idotic comments and the human rights violations of the government it is the ordinary citizen that will suffer from this decision by the EU.

    Thursday, 18 February 2010 05:25 AM

    Well said. Good governance and respect for humaan rights is what the country requie. Adhering to it does not mean selling the country

    Thursday, 18 February 2010 05:29 AM

    Absolutely. I did not want to use this forum to debate the hilarious theory put forward by this guy to off set the impact of losing GSP+.

    Thursday, 18 February 2010 05:32 AM

    Absolutely. This way very soon EU,US may hold 20 Million Guns to our heads.

    Thursday, 18 February 2010 05:36 AM

    Looks like you have more 'thumbs down' than up my friend

    Thursday, 18 February 2010 05:50 AM

    Suba anagathayak..............

    Thursday, 18 February 2010 06:31 AM

    Guv'nor is right.

    The leader is not going to sell his personal property, just so that some fellows keep their jobs.

    Thursday, 18 February 2010 06:49 AM

    Mr. Lanke Banda, you may not be wise enough think positively, but don't show your weakness others.

    Thursday, 18 February 2010 06:49 AM

    We need people like you, Mr Cabraal, to win this game. Unfortunately some Sri Lankans still want to worship other contries and get something.

    Thursday, 18 February 2010 09:16 AM


    Thursday, 18 February 2010 09:24 AM

    Mr. Cabrall. People know of your capabilities & level of knowledge, which is good for nothing. So, you do not have to prove it over & over again.

    Thursday, 18 February 2010 09:33 AM

    ..in fact the ruling party knows that the majority of the citizens can be easily fooled by this type of utterance so they just keep on doing the same thing. will our people ever learn??

    Thursday, 18 February 2010 09:36 AM

    Ajith is a political appointee of the president. And probably the stupidest central banker in the world. Inflation in SL has been over 20%, for the last 3 years, MR Central banker fix that first before talking....

    Thursday, 18 February 2010 09:37 AM

    who is fooling whom?

    Thursday, 18 February 2010 09:46 AM

    So sorry that you are an Accountant as well, Are you talking with your mouth? In which world the governor lives in....

    Thursday, 18 February 2010 09:48 AM

    Cabraal can compensate the employees who will be affected by the suspension of the GSP+ - from the Gold Quest pyramid scheme

    Thursday, 18 February 2010 09:50 AM


    Thursday, 18 February 2010 09:52 AM

    Dear Mr Cabraal,

    Please think of the Garment Workers, they are a very poor class of people. Think how they will be affected.

    Think of a poor man going to a Hospital today. They have to buy the medicine, get the tests done privately. They need about Rs 30,000/= before they get admitted to the Hospital. From where will they find the money?

    Recently a girl from Kuliyapitiya hung herself because she did not have money to buy a piece of bread to take to School? A boy from Matale hung himself because he did not have money to buy an exercise book.

    Such is the plight of the poor of Lanka.


    Thursday, 18 February 2010 09:56 AM

    Dear LR, but still people vote for this government, they just vote and sleep from next day with empty tummy.

    Thursday, 18 February 2010 09:58 AM

    Mr Cabraal since you are a political appointee you simply has to follow what your boss MR has instructed you to do forget about losing GSp+ we have the russains , libyans,iranians , mynmar with us to compensate for the loss

    Thursday, 18 February 2010 10:35 AM

    Finally we have a Governor who is strong enough to standup to the economic mafia. His comment makes me feel proud about my country.

    Thursday, 18 February 2010 10:38 AM

    You faced many crisis and the Sri Lankan economy is now much stronger. You will face this and win this time too.

    Thursday, 18 February 2010 11:41 AM

    We defeated worlds most ruthless terrorist and western countries who backed them, at the same time. We are now a middle income country. Our stock market is growing.
    Apart from that, if you do not know our history, go back to your histry books and go on a trip to Anuradhapura, Polonnaruwa.
    So . cant we proud as a nation.

    Thursday, 18 February 2010 11:52 AM

    Well done Gov. what you are doing cant match to anyone in this country- you saved Sri Lankan financial sector falling. we thank you for that

    Thursday, 18 February 2010 11:55 AM

    You saved Sri Lankan financial sector from falling down. Sri Lankans have short memory and its social and cultural fact. so be happy keep on doing this good job as Gov. of central bank

    Thursday, 18 February 2010 12:06 PM

    it is only people who really work hard get blamed. if you dont work no blame. you kept Rs. stable when rest of the countries currencies de-valued . good job

    Thursday, 18 February 2010 01:13 PM

    well done sir... and the government too..... we are a nation "NOT FOR SALE".. and we still breath!!! we will rise as once before... As president did... 58% of Sri Lankans will too....

    Thursday, 18 February 2010 06:49 PM

    I thought we were always up for SALE, to the highest bidder?

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