We have permanently moved to www.wronglk.com Sri Lanka’s is currently in the process of amending its monetary policy. We are moving towards an inflation targeting central bank. The proposed new law is at the stage where the dinosaurs in parliament oppose it on grounds of tradition[1]. Quoting from the referenced link; The requirement that a particular policy be adapted ...
Please note that we have moved to www.wronglk.com The executive presidency was established in 1978. Since then there has never been as much hope for its abolishment as there is right now. It however still requires many actors to come together to work towards its abolishment. The 20th amendment as brought to the house by the JVP is agreeable to ...
This piece serves as a gambit to a relatively unpopular budgetary reform that should be pushed through. In Sri Lanka as in the rest of the world the vehicle is a status symbol. It’s role as a status symbol is however more pronounced in Sri Lanka. High duty, petrol costs, and realizable value in the secondary market make the ...
“Given that Sri Lanka is a twin deficit country, in terms of budget deficit and current account deficit, the chances that Sri Lanka attracting new money at this juncture is very minimal indeed. By increasing interest rates, we will not be able to attract new money or keep the money already invested.” Indrajit Coomaraswamy 02.10.2018 Inflation targeting as defined ...
The Central Bank (CBSL) exists for the sole purpose of price stability. It’s controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation is a fireable offence. In this light the following text aims to put forth a view ...
Full doc.x with images at bottom. Arvind Subramaniam recently made statements in the Central Bank about rebuilding the social contract. He put forth a narrative of reform whereby he called for the building of trust in government institutions. The statements also coincided with the revelation to the general public that cheque payments had been made to the former president, members ...
Dear Reader, You are an integral part of this post. I have been instructed by my father to list a Colombo based property on the internet for rent. This happens every two or three years as tenants move out. On doing it this time however I find that the prices have skyrocketed. Services like this a few years ago would ...
The Central Bank governor at his recent statement at the Digital Banking summit stated that he felt like a charlatan when asked to speak about technology. He is right. This is not because, as he attributes it, of his recent acquisition of a smartphone but rather due to his regulatory lack of support for digital innovation. The Central Bank through ...
Subject: Independence From: perera_d94@yahoo.com To: globalmedia@visa.com; lkhelpdesk@bookmyshow.com Date: Sunday, June 3, 2018, 5:27:41 PM GMT+5:30 This message contains blocked images. Show images or Always show images Dear Visa and BookMyShow, I write to you following a failure to place a discounted transaction on your site. As you may know, this month Visa cardholders are entitled to up to 25% off ...
Sri Lankan Banking and Finance can be categorised as a license raj. This is not because institutions are regulated by the central bank but rather that the capacity to conduct business is contingent on one obtaining a license. For the NBFI sector, usually understood as the Finance companies, are heavily constrained by this licensing structure. We live in a context ...
http://www.dailymirror.lk/149962/Right-of-reply-Rotarian-replies-to-Muttukumaru “Editor’s Note: This correspondence is now closed.” Amrit Muttukumaru, a self-defined public activist who makes it a point to stick it to those who are in power, is prominent within the local papers. He makes allegations. The allegation relevant to this piece of work is that against K.R. Ravindran. Muttukumara alleges that K. R. Ravindran was involved in some ...
“A bank is a place that will lend you money if you can prove that you don’t need it.” – Bob Hope Banking in Sri Lanka is lending to a person only if it results in that person being worse off. I recently got rejected for a loan, for the purchase of a government security, and for the collateralizing of ...
This is a response I wrote to an article on the implications on the anti tobacco policies of the government. Subject: Implications of the proposed ban of the sale of loose cigarettes in Sri Lanka. From: perera_d94@yahoo.com To: sripathitishani@gmail.com; Contact_CTC@bat.com; editor@ft.lk Date: Tuesday, April 17, 2018, 2:09:25 PM GMT+5:30 Dear Ms Tishani Sripathi, I write to you following reading your ...
While going through Kottu.org I stumbled across a blog aligned to the Bakamoono movement. Within the use of conflation, emotional manipulation, and exaggeration I found this line that I found to be quite worrisome. This line worried me because it was more than just unionized rhetoric but rather socially divisive. “Patriarchy has done its job so well that those who ...
I write this after having bad service at a premier tea center. This was easily preventable and was due to the staff. I refrain from naming the place as they are the sorts to infer this article as a testament to their exclusivity. They took a long time to serve me and didn’t give me what I ordered. This is ...
This is an open letter I wrote after a vehicle parade for the Battle of the Saints prevented me from riding my bicycle on a Saturday. Dear Colombo, Your expensive children are sitting on door ledges of powerful sports vehicles that are being driven by maniacs! A parade in most nations is a procession of people. They may contain vehicles ...
Below is the response I sent to Daily Mirror Life following an article by a well known socialite by the name of Kollu. I doubt my message ever reached the actual author. Subject:The Loathsome Socialite From:perera_d94@yahoo.com To:dailymirrorlife@gmail.com Date:Friday, February 16, 2018, 4:00:57 PM GMT+5:30 Dear Mirror Life, Please be so kind as to forward this response in a manner you ...
Let me start by saying that I would vote for Harsha if he was in my electorate. He is one of the few politicians I would not mind inviting into my own home. A double standard is when a code of conduct is unfairly applied in different ways to different people or groups. Harsha De Silva has recently called (quite ...
Subject:Report from the Reserve Bank of India From:perera_d94@yahoo.com To:vajira@sec.gov.lk; mail@sec.gov.lk Cc:info@cse.lk; cbslgen@cbsl.lk; buddhikaa@irononetech.com; dineths@irononetech.com; charithh@irononetech.com; sundayleaderbusiness@gmail.com; editor@dailynews.lk; editor@sundaytimes.wnl.lk Date:Thursday, March 15, 2018, 9:46:20 AM GMT+5:30 Dear Mr Vajira Gunawardene, I write to you in your role as the Director General of the SEC. The framework and regulation which you create will make or break the
This is a letter I wrote in response to a unusual trading activity enquiry which had made no allowance for the scale of my market activity. The SEC and CSE are religiously opposed to a world of small stakeholders in large corporations. They show disdain for shareholder voting, rights, and participation within the exchange. From: Dinesh Perera Sent: Friday, March ...
