”Sri Lanka’s economic goals can be achieved through addressing brain drain”

January 5, 2016

Sri Lanka’s deputy Minister of State Enterprise Development said that internationally exposed management skills of local expatriates are the need of the hour if the island nation is to achieve its expected economic targets in the near future.

“Everyone only talks of capital and technology but in my experience it is management that is needed more; management which has been exposed internationally.” Eran Wickramaratne, deputy Minister, State Enterprise Development said.

“Nearly 300,000 nationals leave for greener pastures every year and seven percent of them are professionals,”

News Papers

A recent interview with Business Standard Magazine on Sri Lanka – India Trade relations

December 29, 2015

A banker-turned-politician Eran Wickramaratne, Sri Lanka’s deputy minister for highways and investment promotion, says trade and investment with India can grow exponentially. He, however, makes a strong case for reduction in non-tariff barriers (NTBs). In an interview with Sanjay Jog, he explains how both countries can prosper and help the region grow.

The heads of India and Sri Lanka have said economic ties are the pillars of the relationship between the two nations. What is your take?

There has been normalisation of relations since the change of presidency in Sri Lanka after January. President, Maithripala Sirisena visited India and Prime Minister Narendra Modi visited Lanka. This is significant. In the past, the relationship was more politically driven. In future, it will be driven by economic partnership. That’s the way to go.

Parliament Speeches

Building a society that values people over power

December 29, 2015

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Parliament Speeches

Speech at J.P. Morgan Sri Lanka Branch opening

December 26, 2015

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Parliament Speeches

Nothing but the State Enterprises !

December 24, 2015

But there are some areas where the state need not be involved, and doing so only takes away income generating opportunities from a number of segments such as private businesses, home businesses and others. If the government gets involved, it becomes unfair competition, and that is what has been taking place. There is a crowding out effect.

State-owned enterprises (SOEs) have come under harsh criticism in the recent past for their poor performance, productivity and profitability, and it is the public that paid the price.

With the change of government, and the appointments of fresh leaders, it is hoped the troubled entities would rectify their dismal performances and stop enlarging the hole in taxpayer’s pocket.

In an attempt to get a clear picture as to what the fate of these institutions will be, Mirror Business sat down with State Enterprise Development Deputy Minister Eran Wickramaratne— a former banker and a highly respected figure in the private sector— this week for a comprehensive interview on what path the ministry would take to accomplish the strenuous task.

Following are the excerpts of the interview.

Opinion

“If required by MR, able to sell Mihin Air for one rupee”

December 17, 2015

“In 1979 ‘Air Ceylon’ was decommissioned &‘Air Lanka’ was established. Subsequently in 1998 ‘Air Lanka’ was privatized by the then SLFP lead government. 40% of its shares were sold to ‘Emirates’ for 70 million dollars. This was done through a 10 year strategic agreement based on a requirement of the then government. We are in no way against this move. It was this very same government which sold plots of land adjacent to the sacred site of ‘Somawathie’ to foreign institutions. They even went the extra mile by selling the paper factory. These decisions may have been correct or wrong given the day’s context. However in 2008, the 10 year strategic agreement expired. Emirates declined to extend the agreement any further. Post 2010 we were able to regain ownership of these market shares. The losses incurred by ‘Sri Lankan Air Lines’ at present stands at Rs. 12800 million. Only Rs. 900 billion has been allocated for 30% of the family units, who depend on the Samurdhi grant of this country. Juxtaposed against this scenario the losses incurred by one public entity exceeds nearly 15 times this amount” Deputy Minister Wickramaratne said.

Expressing his views during the Select Committee stage of the 2016 budget, a highly vocal Deputy Minister of Public Enterprise Development Eran Wickramaratne proposed that if required by former President and now Kurunegala District Parliamentarian Mahindara Rajapaksa, the incumbent government is able to sell ‘Mihin Air’over to him for a rupee.

Deputy Minister Eran Wickramaratne made this observation while lashing out at the now defunct Rajapaksa regimes lavish expenditure done in the guise of developing the public sector.

Radio Interviews

Public Transportation is Entirely outdated

December 17, 2015

Sri Lanka’s public transportation is entirely outdated and needs to undergo genuine modernization as soon as possible, Deputy Minister of State Enterprise Development Eran Wickremaratne said yesterday. Speaking at the Colombo Mayor’s Conference, the Deputy Minister hailed the public transport system envisaged for the country by the former government but said it required investments to the tune of US$ 300million a year, over a 10 year period.

“A seemingly simple improvement could be the introduction of a timetable according to which public transport runs. By installing GPS systems on buses, the public could keep track of their routes, arrival times and estimated time to destination. This would save people anxiety over bus delays. Considerable amounts of time are wasted.People should no longer have to stand waiting, often in monsoonal times such as what we are experiencing now, for buses to come at times that they can only just guess,” Wickremaratne said.

Radio Interviews

what kind of politicians do you prefer? – Addressing the Gathering at Anton PVC awards

December 16, 2015

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Radio Interviews

UPFA factions dilute 19A, going against wishes of the people

December 4, 2015

UNP MP and Investment Promotions and Highways Deputy Minister Eran Wickramaratne said yesterday that factions of the UPFA went against the wishes of the people by diluting one of the most important features that would have made the 19th amendment more meaningful for the people. He said the UNP and Maithripala Sirisena campaigned to abolish the Executive Presidency and build an independent, depoliticised public sector.