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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.

 

 

Times 1004

Sunday Times – 10/04/15

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"I am Tamil, Sinhalese, Muslim and Burgher. I am a Buddhist, a Hindu, a follower of Islam and Christianity. But above…

Posted by Eran Wickramaratne on Sunday, August 23, 2015

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What is really needed is investment. The former regime ran the economy through debt. Sri Lanka has now been ranked in the first 25 countries in the debt crisis in the world published by the Jubilee Debt Movement in London. Our Government in the first four months of this year has borrowed 40% less than the previous Government borrowed in the same period last year. We need to attract more foreign investments. Since investors knew that this Government would be dissolved soon, they wanted to wait to see what would happen in the next five years.

Q: How do you view the present political situation, which took an unexpected turn with some former Ministers joining the UNP-led coalition for good governance?

A: After the election of the new President, quite unexpectedly the presidency of the SLFP was given to President Maithripala Sirisena. On one hand it was a good move, but he had a dilemma on the other hand. He had pressure from the SLFPers to make decisions in their interest and not in the interest of the country. Therefore, they forced those politicians who are undesirable to be in the nomination list, including the former President Mahinda Rajapaksa, several ministers and MPs whom the public would have rejected and had questionable actions in the past.

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A few memories from my days as the Head Prefect and playing the Big Match for Royal College, Colombo.

Posted by Eran Wickramaratne on Thursday, July 16, 2015

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On January 8th we began a journey to change the political culture of our Nation. This is a long road and we have only just started. We cannot do this without your support.

Posted by Eran Wickramaratne on Friday, July 10, 2015

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