Quote “We are not responsible and we are Irresponsible”! unquote
Part
3
How to revive from – Economic Crisis
that is Created
Reasoning &Recommendations
One of the reasons for the prolonging short supply Petrol and Diesel, LP-gas and in
turn continuing long hours of electricity interruption is, closing
down of the Sapugaskanda Crude Oil Refinery
in which gasoline
(petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene,
liquefied petroleum gas and petroleum naphtha are produced from
each barrel of 159 litter crude oil that expands to 170 liters while on process
includes above products listed. Sapugaskanda Crude Oil Refinery has
a capacity of 50,000 barrels per steam day amounting to 7900cubic
liters(7900x1000liters). The present government for bizarre reason, stopped
refining crude oil which fulfilled the 30% to 33% of national daily requirement
of the Petrol, Diesel and LP gas. Apart from above it also supplied the
residual oil needed by the Sapugaskanda
Electricity Power Generation, and it has been brought to a halt as well. But the government foolishly decided to
import 100% - the entire total need of the nation amidst the worsening dollar
crisis and lost income generated by numerous by products from the bottom
residue on completion of refining process of each barrel (please refer
information graphic below).
Another higher capacity crude oil refinery project initiated in 2014 by Mahinda Rajapaksha was abandoned by the Ranil Wickremasinghe government in 2015 as soon as they came to power and as a result, the estimated cost of the project has skyrocketed from $ 95 million in 2014to $ 2.5 billion in 2020. Anyhow Ranil Wickremasinghe government in 2019 initiated an Export Processing Zone refinery with a Foreign Direct Investment (FDI) of $ 3.85 billion from Oman and Singapore, with an aim of generating $ 7 billion worth of export revenue per annum when fully operational, but was later abandoned as well due to various controversies. Therefore, the hasty decision closure of Sapugaskanda Crude Oil Refinery is influenced by political rivalry, that fail to consider the public utility value when considering the fact that this refinery consists of 65 tanks for crude oil storage; hence all other reasons set become pretext. Any lay man will easily understand that crude oil importation is much cheaper than, 100% all crude oil breakdown products directly, though 70% of country’s requirement has to be imported as purified products.
The
political parties coming to power after a general election has been in vicious habit
of discarding the plans and ongoing implemented projects judgmentally, due to
the brutal mania of propaganda, just to gain petty political gain, right
at the beginning itself without realizing that such negative action will
heavily burden our treasury – utter wastage of public tax payers’ money. Ruthless
part of this process is going for fresh burrowing for newer plan and
implementation – further exerting pressure on the treasury. Since 2005 every
aspect of the government undertaking is calculated maniacally for propaganda
rather than for real purpose of smooth functioning, still continuing, This maniac habit should be addressed through legally /constitutionally
–recent classic example for above
is delaying the bailout relieve application to International Monetary Fund
– even after the crisis has worsened - another
attempt to fool the public, just to portray that they are wiser than opposition,
masquerading as wise, acting autocratically – has brought out the public to protest all over the country in
frustration, that they couldn’t meet
their daily essentials needs.
A
thief always think others are also thief, won’t believe what opposition say and
CBSL as well critically lacked a visionary adviser as to, when to go for
bailout call to IMF, - when these selfish-reliant rulers finally called
for IMF relieve all too late – now economic crisis has coupled with
political crisis – unless this political crisis – settled ensured to form a steady
trustable government, IMF or International donors relieve will be only a
distant dream than anything tangible. Another example for burdening the treasury
just by change of government – A proposed $480 million Millennium Challenge
Corporation compact aid for 5 years was
unnecessarily made into a political issue by then opposition party led by
Mahinda Rajapaksha (2019), used it as usually with utter lies to portray themselves are only saviors of this
nation; it is very appropriate to mention here the entire history of wastage of human resources, time in
years and monetarily.
Since 2016 Sri Lankan experts set in motion
the proposals for 1. Poverty alleviation through Socio-Economic growth 2.
Improving the bus/train transport of workforce with removing the traffic
congestions of the Western Province and 3. Pollution Reduction. The
Millennium Challenge
Corporation found all these proposals very attractive and decided to draft Sri Lanka as
well as the 57th country for the MCC aid program in 2017 April
15th, in turn US Congress accepted the proposals on
September 2018 for financing and the
donor implementer – The Board of
Directors of MCC approved the outright grant of 480 million US Dollars on 25th
April 2019.
Raja
Pakashas & Company formed the government, though had criticized the MCC
project for electioneering purposes, the amount offered by the
MCC project has been mouthwatering for the Raja company, became indecisive - neither indicated yes
nor rejected the acceptance of funds to Millennium Challenge
Corporation (MCC), which forms
partnerships only with countries, who have capabilities to
1. Lead the process of designing and implementing development projects according local need priorities
2. Satisfactory International ratings of policy performance of beneficiary
3. Cost benefit analysis and rigorous impact evaluation
once the project is completed
All three above are very
imperative in any planning and implementation of projects, regardless of origin
of funding - these criteria that are common to all projects, but Raja Family hilariously
found these criteria as national security threat for maniac of propaganda.
MCC also emphasizes on
1.Transparency
in aid fund handling through Good Governance,
2.Economic Freedom and
3.Investments within their own citizens,
Again, another three criteria common to any international
funding aid agency, and all 6 criteria are equivocally hated by Raja Family because,
all these criteria are laid to prevent beneficiaries mishandling the aid funds;
that is why these selfish rulers always disregard the International Funding Agencies and fervently prefers
the individual countries for loan requirements that allow discrete handling. Though
the new rulers awaited the US aid package, of $480 million (Sri Lankan Rs. 89 billion at that time) MCC Board of Directors Cancelled
the Sri Lankan engagement on 15th December 2020, – all those strenuous efforts of Sri
Lankan experts and US officials became utterly waste of precious time in years
and monetary wise, and the Raja Family ran towards Bangladesh
for loan begging, not for the same project but for something else! Though Raja
Family shouted of security threat against the MCC funded project, the Raja family
well and truly hilariously exposed themselves’ attitude towards fund handlings to
USA and its Congress. Endless greed Mahinda Rajapaksha did this despite being
Prime Minister 3 times and executive president for 15 long years. Now USA has
enlisted and published the total wealth of our Diaspora Rulers, worth running
into many billion.
Hence, any project involving foreign countries or an international
agency once it is set in motion for implementation should not be used for electioneering
purpose, it is non-ethical and cruel on human resource internationally, and it should
be addressed through election laws; If
there is any issue of security threat of
international aid projects, any patriotic could file a writ petition against it,
instead of using it to deceive gullible mass in large scale for publicity, as
did by Raja Family.
These kind of lunatic burrowing without any fiscal management
strategies and recommendations should be prevented constitutionally. Burrowing
from any individual countries should be considered as a national security
threat, burrowing should be preferred from recognized International Funding
Agency, such as World Bank, IMF Asian Development Bank etc. Projects and
Programs should be planned, to attract the International outright grant aid
agencies, rather than projects for burrowing, since our country is just a developing
nation only.
Even well-developed countries Japan, France etc. involve in burrowing for check and balance, but
they manage the fiscal strategies well and control over the burrowing.
At this moment I welcome the move to call
back Retired. Senior Deputy Governor, P Nandalal
Weerasinghe as Governor of Central Bank Sri Lanka (CBSL)
- I strongly believe his 29 years earlier stint with CBSL
would confer him the strength and confidence to overcome the political clowns’
unjustifiable demands – that would harm the integrity and objectives of CBSL.
Congratulations Dr. Nandalal Weerasinghe.
All
who at the helm, the Parliament and the President through consensus
consultation shall revoke the 20th amendment which paved way for
autocratic rule and installed insecurity for the permanent pensionable executives
of the Government sector, 19th Amendment should be further improvised
and reenacted as quickly as possible to ensure good governance. At this time of
crisis, no political party shall seek political advantage and demand for a General
Election or a Presidential Election which will further strangulate the treasury
by monetary demand.
Ruling party parliament members are trying to paint public protests as of politically motivated, which clearly manifests that they have not understood the pathetic day to day struggle of all civilians alike to survive; you all should realize that you cannot resolve the problem of the people facing today by portraying the public outburst as of political and organizing counter protest to support yourself hysterically. One of the government member went on to accuse the government officials and the 1979 constitution for the present crisis, - you all have lived with devil, devilishly plundered the country and enjoyed the privileges provided by the same the constitution for 43 years, despite repeated public outcry to change it for the same long years – when public erupted – accusing the government official for the status qua – you all are irresponsible to allow them to be part of your government – and to the present crisis of the present magnitude.
