Connect with us

Features

Aitken Spence goes public, LOLC takes off and July 1983 riots hit

Published

on

by Charitha P. de Silva

1982 was an historic year for Aitken Spence. It was the year that we went public. Earlier in the years I had received a lot of prominence as a result of my photo appearing on the cover of “Asian Business,” a Hongkong-based magazine. I had been invited to deliver a lecture in Hongkong on “How a Traditional Agency House was converted into a Conglomerate”.

The business tycoon Upali Wijewardena had also been invited to speak at the same forum. Unfortunately, he and a small group of his key men went down in the Malacca Straits in his private Lear Jet. There was a lot of speculation that the accident had been engineered in some way. The upshot of this unfortunate accident was that the meeting in Hongkong was canceled.

It was with some misgivings that I promoted the idea of our going public. There were undoubted tax and financial advantages in going public. However, we would lose our privacy and some of our freedom and the feeling of being a close-knit family. In balance, it was a good move and well timed because we had grown to be one of the three biggest conglomerates in the country – the other two being John Keells and Hayleys who were friendly rivals. They were already public companies.

I consulted my good friend M.T.L. Fernando, senior partner of Ernst & Young (a leading firm of auditors) and he looked at our accounts and thought that we should revalue our assets (which had not been done for many years) and have a three for one bonus share issue to existing shareholders before we offered our shares to the public. During the 10 years that I had been Chairman any shares that became available had not been appropriated by the directors. At my urging they were distributed at par to senior executives on a paternalistic basis.

We – Michael (Mack), Norman (Gunawardene), GC (Wickremasinghe) and I – decided who would get the shares and how many each would get. That itself was a generous action because we were a private company and had every right to appropriate the shares ourselves. There was nobody to question us.

Looking back I realize that I must have exercised considerable moral authority over my senior co-directors because they never once demurred at my proposals which involved sacrifice on the part of all of them.

The most extraordinary suggestion I made was when we were planning the Bonus Issue. It struck me that the junior directors, Stanley Wickremaratne, Ratna Sivaratnam and Lal Karunanayake had much fewer shares than the senior directors. I therefore suggested that we should sell them one tenth of our shares before the Bonus Issue. And what was unbelievable was that I suggested that we sell them at par! This was the very antithesis of Insider Dealing. Here was I suggesting that we give them a huge gift before a Bonus Issue! What is incredible is that not one of my senior co-directors protested or demurred! I remember Walter Wimalachandra telling me later that he was thrilled to see, in my actions, the finest principles of Buddhism being implemented.

I had a major decision to make myself. As a private company with a special set of Articles of Association we had a special class of shares called Management Shares. Each Management Share carried a hundred times the voting strength of an Ordinary Share. It thus gave total control of the Company to the holders of Management Shares. This would have been a device that the British owners had adopted to protect themselves. It happened that as a result of the departure of Roy Hinton and Eldsworth Van Langenburg and the death of Louis Samarawickrema, I was the holder of the largest number, by far, of Management Shares.

As they had the same dividend rights as an Ordinary Share and the question of votes had never arisen in the past I had never paid any attention to the fact that I had virtual control of the company. My style of control was based on my ability to persuade, and we had always made all our decisions on a consensual basis. I realised that if the voting rights of Management Shares were ever brought into play it would have been the end of the unity and camaraderie that I had built up over 10 years completely wiping out the memory of the attempted coup by Michael and Norman in 1972 when I was elected Chairman.

Now I was faced with the problem of how the Management Shares should be valued before we went public after which there would be only one class of shares – Ordinary Shares. It might easily have been argued that each Management Share was worth a hundred Ordinary Shares. Such a thought did not even strike me. I would have found it embarrassing. Looking back I cannot but realize that my attitude was positively saintly, and completely unbusiness like. Detractors would say that I was foolish – in the extreme! I decided that without any attempt to have the shares professionally valued I would place a value of eight times that of an Ordinary Share. There was no reaction from my co-directors. They may have secretly thought I was a little soft in the head.

The public Issue was a great success. At about this time LOLC also went public with Orix Corporation of Japan having 30% of the shareholding with the other large shareholders being Bank of Ceylon, National Development Bank, and Development Finance Corporation of Ceylon. Once again I gained no personal advantage from the fact that I was the first chairman of the company. My failure to look after myself can be judged from the fact that when I eventually retired in 2003 (21 years later) I owned less than 5% of the shares! This would sound incredibly foolish to any businessman. I can only attribute it to my abnormal lack of acquisitiveness, all part of my upbringing, and the example of my parents and brothers. This is my only excuse for depriving my children of the opportunity of inheriting great wealth.

Leasing became extremely popular, and a number of independent companies, finance companies and banks started leasing as a lucrative activity. What particularly attracted the banks was the fact that they could set off the depreciation on leased assets against their other income. The specialized leasing companies themselves did not have much other income against which they could set off their depreciation, so that they were in a permanent state of having taxable losses. They therefore did not pay any income tax which infuriated some tax officials who did not concern themselves with the thought that they paid large sums as Turnover Tax.

I saw the need for the leasing industry to protect itself from government action particularly in taxation. I therefore took the initiative in forming a Leasing Association. Quite naturally I was the Chairman and chief spokesman. All those involved in leasing became members. Thus there were representatives from banks in our membership, and our interests were not always congruent. I was not happy about the advantage that banks had with their ability to use depreciation (which could be set off against their other income) to make themselves more competitive.

Specialist leasing companies like ourselves were at a competitive disadvantage because we were dependent on banks for long-term funds, and we had no other income of any magnitude. I decided to do something about it. I made inquiries from the Asian Leasing Association that we had joined by that time, and discovered that Pakistan had introduced legislation that prohibited depreciation being set off against other income. Through Orix Pakistan I got the text of the legislation and wrote to our own Department of Inland Revenue strongly recommending it. It was seized on eagerly as an excellent source of revenue. The banks that had gone into leasing (like Hatton National Bank and the DFCC) were very upset, and Maxi Prelis (DFCC) and Rienzie Wijetilleke (HNB) wrote strong letters to Government attacking me and LOLC.

The Asian Leasing Association (ALA), headquartered in Singapore, had as its head, Mr Miyauchi, the CEO of ORIX Corporation that had created us and still had their representative, Mr Yoshio Ono as our Managing Director. Mr Miyauchi who had developed a healthy respect for me invited me on to their governing council.

LOLC had performed very creditably with A.F. Nizar as Ono’s deputy ever since its inception, doing much better than projected and expected. At this stage I came to the conclusion that we did not need a Japanese MD any longer. I felt that Nizar was ready to take over provided ORIX would agree to it. Under the original agreement with ORIX and the IFC (International Finance Corporation – a World Bank affiliate), ORIX which had 30% of our shares had the right to have their own MD.

When I sounded out the IFC director on our board, P.M. Mathew, he scoffed at the idea saying that Japan would never agree to it. ORIX had associate companies like us all over the world and in every one of them they had a Japanese as the MD. Ours was one of the youngest of these associate companies and it was most unlikely that they would change their worldwide policy for us. I had confidence in myself, and decided that I would broach the question with Miyauchi with whom I had an excellent relationship.

I did so on the next occasion that we met, and was not at all surprised when he agreed to my proposal that Nizar should take over from Ono when his term was over. He obviously had great confidence in my judgment, and the fact that I would be there as Chairman.

And there were obvious cost advantages to them in that they would save on Ono’s salary which would have been much, very much, more than Nizar’s. And so it came about that LOLC was the first associate company in the ORIX empire that did not have a Japanese as its MD.

Meanwhile at the ALA Miyauchi indicated that he wanted to retire. Among the other council members were representatives of South Korea, Taiwan, India, Hong Kong, Pakistan, Phillipines and the other important countries in Asia. Miyauchi wanted me to take over from him (I had been making a bigger contribution than the others at council deliberations) but thought it would be wiser not to rush it as it would appear to be nepotism and I was probably the most junior council member there. So Kenneth Lo of Taiwan was elected President. When Lo indicated that he could not go on for more than two years the Council unanimously decided that I would be President thereafter.

This was a great honour (indirectly) for Sri Lanka which was the newest and smallest country in the Association. It had of course more to do with my ability as a committee man than with Sri Lanka’s economic significance in Asia. In 1988, I took over as Chairman of the ALA and continued for two years which became the standard term.

In July, 1983, I was presiding as Chairman of the fifth Joint Committee Meeting of the Sri Lanka-Japan Business Co-operation Committee at the BMICH. Sejima was by my side, as Co-Chairman and we were approaching lunch time. Suneetha Jayawickrama who was joint Secretary-General came to me and whispered in my ear that Colombo appeared to be burning. The now infamous “July Riots” had broken out and smoke was visible on the skyline in the direction of Fort. We bundled our Japanese visitors into vehicles (I had Sejima in mine) and drove them to the Hilton Hotel.

I remember being stopped at the Bullers Road, Galle Road junction by bands of youth who were collecting petrol in cans for their deadly work. The meeting was aborted, but I will never forget how calm Sejima was. At a hastily summoned Press Conference he described the whole affair as “children’s fireworks”. Despite his effort to play it down, the violence in the streets made the climate for investment in this country unhealthy.

The pogrom that followed was the provocation for the formation of the Liberation Tigers of Tamil Eelam (LTTE) and the warfare that was to plague the country until 2009 when President Mahinda Rajapakse succeeded in crushing the movement militarily.

(Extracted from the Memoirs of CP de Silva)



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Features

Disaster-proofing paradise: Sri Lanka’s new path to global resilience

Published

on

iyadasa Advisor to the Ministry of Science & Technology and a Board of Directors of Sri Lanka Atomic Energy Regulatory Council A value chain management consultant to www.vivonta.lk

As climate shocks multiply worldwide from unseasonal droughts and flash floods to cyclones that now carry unpredictable fury Sri Lanka, long known for its lush biodiversity and heritage, stands at a crossroads. We can either remain locked in a reactive cycle of warnings and recovery, or boldly transform into the world’s first disaster-proof tropical nation — a secure haven for citizens and a trusted destination for global travelers.

The Presidential declaration to transition within one year from a limited, rainfall-and-cyclone-dependent warning system to a full-spectrum, science-enabled resilience model is not only historic — it’s urgent. This policy shift marks the beginning of a new era: one where nature, technology, ancient wisdom, and community preparedness work in harmony to protect every Sri Lankan village and every visiting tourist.

The Current System’s Fatal Gaps

Today, Sri Lanka’s disaster management system is dangerously underpowered for the accelerating climate era. Our primary reliance is on monsoon rainfall tracking and cyclone alerts — helpful, but inadequate in the face of multi-hazard threats such as flash floods, landslides, droughts, lightning storms, and urban inundation.

Institutions are fragmented; responsibilities crisscross between agencies, often with unclear mandates and slow decision cycles. Community-level preparedness is minimal — nearly half of households lack basic knowledge on what to do when a disaster strikes. Infrastructure in key regions is outdated, with urban drains, tank sluices, and bunds built for rainfall patterns of the 1960s, not today’s intense cloudbursts or sea-level rise.

Critically, Sri Lanka is not yet integrated with global planetary systems — solar winds, El Niño cycles, Indian Ocean Dipole shifts — despite clear evidence that these invisible climate forces shape our rainfall, storm intensity, and drought rhythms. Worse, we have lost touch with our ancestral systems of environmental management — from tank cascades to forest sanctuaries — that sustained this island for over two millennia.

This system, in short, is outdated, siloed, and reactive. And it must change.

A New Vision for Disaster-Proof Sri Lanka

Under the new policy shift, Sri Lanka will adopt a complete resilience architecture that transforms climate disaster prevention into a national development strategy. This system rests on five interlinked pillars:

Science and Predictive Intelligence

We will move beyond surface-level forecasting. A new national climate intelligence platform will integrate:

AI-driven pattern recognition of rainfall and flood events

Global data from solar activity, ocean oscillations (ENSO, MJO, IOD)

High-resolution digital twins of floodplains and cities

Real-time satellite feeds on cyclone trajectory and ocean heat

The adverse impacts of global warming—such as sea-level rise, the proliferation of pests and diseases affecting human health and food production, and the change of functionality of chlorophyll—must be systematically captured, rigorously analysed, and addressed through proactive, advance decision-making.

This fusion of local and global data will allow days to weeks of anticipatory action, rather than hours of late alerts.

Advanced Technology and Early Warning Infrastructure

Cell-broadcast alerts in all three national languages, expanded weather radar, flood-sensing drones, and tsunami-resilient siren networks will be deployed. Community-level sensors in key river basins and tanks will monitor and report in real-time. Infrastructure projects will now embed climate-risk metrics — from cyclone-proof buildings to sea-level-ready roads.

Governance Overhaul

A new centralised authority — Sri Lanka Climate & Earth Systems Resilience Authority — will consolidate environmental, meteorological, Geological, hydrological, and disaster functions. It will report directly to the Cabinet with a real-time national dashboard. District Disaster Units will be upgraded with GN-level digital coordination. Climate literacy will be declared a national priority.

People Power and Community Preparedness

We will train 25,000 village-level disaster wardens and first responders. Schools will run annual drills for floods, cyclones, tsunamis and landslides. Every community will map its local hazard zones and co-create its own resilience plan. A national climate citizenship programme will reward youth and civil organisations contributing to early warning systems, reforestation (riverbank, slopy land and catchment areas) , or tech solutions.

Reviving Ancient Ecological Wisdom

Sri Lanka’s ancestors engineered tank cascades that regulated floods, stored water, and cooled microclimates. Forest belts protected valleys; sacred groves were biodiversity reservoirs. This policy revives those systems:

Restoring 10,000 hectares of tank ecosystems

Conserving coastal mangroves and reintroducing stone spillways

Integrating traditional seasonal calendars with AI forecasts

Recognising Vedda knowledge of climate shifts as part of national risk strategy

Our past and future must align, or both will be lost.

A Global Destination for Resilient Tourism

Climate-conscious travelers increasingly seek safe, secure, and sustainable destinations. Under this policy, Sri Lanka will position itself as the world’s first “climate-safe sanctuary island” — a place where:

Resorts are cyclone- and tsunami-resilient

Tourists receive live hazard updates via mobile apps

World Heritage Sites are protected by environmental buffers

Visitors can witness tank restoration, ancient climate engineering, and modern AI in action

Sri Lanka will invite scientists, startups, and resilience investors to join our innovation ecosystem — building eco-tourism that’s disaster-proof by design.

Resilience as a National Identity

This shift is not just about floods or cyclones. It is about redefining our identity. To be Sri Lankan must mean to live in harmony with nature and to be ready for its changes. Our ancestors did it. The science now supports it. The time has come.

Let us turn Sri Lanka into the world’s first climate-resilient heritage island — where ancient wisdom meets cutting-edge science, and every citizen stands protected under one shield: a disaster-proof nation.

Continue Reading

Features

The minstrel monk and Rafiki the old mandrill in The Lion King – I

Published

on

Why is national identity so important for a people? AI provides us with an answer worth understanding critically (Caveat: Even AI wisdom should be subjected to the Buddha’s advice to the young Kalamas):

‘A strong sense of identity is crucial for a people as it fosters belonging, builds self-worth, guides behaviour, and provides resilience, allowing individuals to feel connected, make meaningful choices aligned with their values, and maintain mental well-being even amidst societal changes or challenges, acting as a foundation for individual and collective strength. It defines “who we are” culturally and personally, driving shared narratives, pride, political action, and healthier relationships by grounding people in common values, traditions, and a sense of purpose.’

Ethnic Sinhalese who form about 75% of the Sri Lankan population have such a unique identity secured by the binding medium of their Buddhist faith. It is significant that 93% of them still remain Buddhist (according to 2024 statistics/wikipedia), professing Theravada Buddhism, after four and a half centuries of coercive Christianising European occupation that ended in 1948. The Sinhalese are a unique ancient island people with a 2500 year long recorded history, their own language and country, and their deeply evolved Buddhist cultural identity.

Buddhism can be defined, rather paradoxically, as a non-religious religion, an eminently practical ethical-philosophy based on mind cultivation, wisdom and universal compassion. It is  an ethico-spiritual value system that prioritises human reason and unaided (i.e., unassisted by any divine or supernatural intervention) escape from suffering through self-realisation. Sri Lanka’s benignly dominant Buddhist socio-cultural background naturally allows unrestricted freedom of religion, belief or non-belief for all its citizens, and makes the country a safe spiritual haven for them. The island’s Buddha Sasana (Dispensation of the Buddha) is the inalienable civilisational treasure that our ancestors of two and a half millennia have bequeathed to us. It is this enduring basis of our identity as a nation which bestows on us the personal and societal benefits of inestimable value mentioned in the AI summary given at the beginning of  this essay.

It was this inherent national identity that the Sri Lankan contestant at the 72nd Miss World 2025 pageant held in Hyderabad, India, in May last year, Anudi Gunasekera, proudly showcased before the world, during her initial self-introduction. She started off with a verse from the Dhammapada (a Pali Buddhist text), which she explained as meaning “Refrain from all evil and cultivate good”. She declared, “And I believe that’s my purpose in life”. Anudi also mentioned that Sri Lanka had gone through a lot “from conflicts to natural disasters, pandemics, economic crises….”, adding, “and yet, my people remain hopeful, strong, and resilient….”.

 “Ayubowan! I am Anudi Gunasekera from Sri Lanka. It is with immense pride that I represent my Motherland, a nation of resilience, timeless beauty, and a proud history, Sri Lanka.

“I come from Anuradhapura, Sri Lanka’s first capital, and UNESCO World Heritage site, with its history and its legacy of sacred monuments and stupas…….”.

The “inspiring words” that Anudi quoted are from the Dhammapada (Verse 183), which runs, in English translation: “To avoid all evil/To cultivate good/and to cleanse one’s mind -/this is the teaching of the Buddhas”. That verse is so significant because it defines the basic ‘teaching of the Buddhas’ (i.e., Buddha Sasana; this is how Walpole Rahula Thera defines Buddha Sasana in his celebrated introduction to Buddhism ‘What the Buddha Taught’ first published in1959).

Twenty-five year old Anudi Gunasekera is an alumna of the University of Kelaniya, where she earned a bachelor’s degree in International Studies. She is planning to do a Master’s in the same field. Her ambition is to join the foreign service in Sri Lanka. Gen Z’er Anudi is already actively engaged in social service. The Saheli Foundation is her own initiative launched to address period poverty (i.e., lack of access to proper sanitation facilities, hygiene and health education, etc.) especially  among women and post-puberty girls of low-income classes in rural and urban Sri Lanka.

Young Anudi is primarily inspired by her patriotic devotion to ‘my Motherland, a nation of resilience, timeless beauty, and a proud history, Sri Lanka’. In post-independence Sri Lanka, thousands of young men and women of her age have constantly dedicated themselves, oftentimes making the supreme sacrifice, motivated by a sense of national identity, by the thought ‘This is our beloved Motherland, these are our beloved people’.

The rescue and recovery of Sri Lanka from the evil aftermath of a decade of subversive ‘Aragalaya’ mayhem is waiting to be achieved, in every sphere of national engagement, including, for example, economics, communications, culture and politics, by the enlightened Anudi Gunasekeras and their male counterparts of the Gen Z, but not by the demented old stragglers lingering in the political arena listening to the unnerving rattle of “Time’s winged chariot hurrying near”, nor by the baila blaring monks at propaganda rallies.

Politically active monks (Buddhist bhikkhus) are only a handful out of  the Maha Sangha (the general body of Buddhist bhikkhus) in Sri  Lanka, who numbered just over 42,000  in 2024. The vast majority of monks spend their time quietly attending to their monastic duties. Buddhism upholds social and emotional virtues such as universal compassion, empathy, tolerance and forgiveness that protect a society from the evils of tribalism, religious bigotry and death-dealing religious piety.

Not all monks who express or promote political opinions should be censured. I choose to condemn only those few monks who abuse the yellow robe as a shield in their narrow partisan politics. I cannot bring myself to disapprove of the many socially active monks, who are articulating the genuine problems that the Buddha Sasana is facing today. The two bhikkhus who are the most despised monks in the commercial media these days are Galaboda-aththe Gnanasara and Ampitiye Sumanaratana Theras.  They have a problem with their mood swings. They have long been whistleblowers trying to raise awareness respectively, about spreading religious fundamentalism, especially, violent Islamic Jihadism, in the country and about the vandalising of the Buddhist archaeological heritage sites of the north and east provinces. The two middle-aged monks (Gnanasara and Sumanaratana) belong to this respectable category. Though they are relentlessly attacked in the social media or hardly given any positive coverage of the service they are doing, they do nothing more than try to persuade the rulers to take appropriate action to resolve those problems while not trespassing on the rights of people of other faiths.

These monks have to rely on lay political leaders to do the needful, without themselves taking part in sectarian politics in the manner of ordinary members of the secular society. Their generally demonised social image is due, in my opinion, to  three main reasons among others: 1) spreading misinformation and disinformation about them by those who do not like what they are saying and doing, 2) their own lack of verbal restraint, and 3) their being virtually abandoned to the wolves by the temporal and spiritual authorities.

(To be continued)

By Rohana R. Wasala ✍️

Continue Reading

Features

US’ drastic aid cut to UN poses moral challenge to world

Published

on

An UN humanitarian mission in the Gaza. [File: Ashraf Amra/Anadolu Agency]

‘Adapt, shrink or die’ – thus runs the warning issued by the Trump administration to UN humanitarian agencies with brute insensitivity in the wake of its recent decision to drastically reduce to $2bn its humanitarian aid to the UN system. This is a substantial climb down from the $17bn the US usually provided to the UN for its humanitarian operations.

Considering that the US has hitherto been the UN’s biggest aid provider, it need hardly be said that the US decision would pose a daunting challenge to the UN’s humanitarian operations around the world. This would indeed mean that, among other things, people living in poverty and stifling material hardships, in particularly the Southern hemisphere, could dramatically increase. Coming on top of the US decision to bring to an end USAID operations, the poor of the world could be said to have been left to their devices as a consequence of these morally insensitive policy rethinks of the Trump administration.

Earlier, the UN had warned that it would be compelled to reduce its aid programs in the face of ‘the deepest funding cuts ever.’ In fact the UN is on record as requesting the world for $23bn for its 2026 aid operations.

If this UN appeal happens to go unheeded, the possibilities are that the UN would not be in a position to uphold the status it has hitherto held as the world’s foremost humanitarian aid provider. It would not be incorrect to state that a substantial part of the rationale for the UN’s existence could come in for questioning if its humanitarian identity is thus eroded.

Inherent in these developments is a challenge for those sections of the international community that wish to stand up and be counted as humanists and the ‘Conscience of the World.’ A responsibility is cast on them to not only keep the UN system going but to also ensure its increased efficiency as a humanitarian aid provider to particularly the poorest of the poor.

It is unfortunate that the US is increasingly opting for a position of international isolation. Such a policy position was adopted by it in the decades leading to World War Two and the consequences for the world as a result of this policy posture were most disquieting. For instance, it opened the door to the flourishing of dictatorial regimes in the West, such as that led by Adolph Hitler in Germany, which nearly paved the way for the subjugation of a good part of Europe by the Nazis.

If the US had not intervened militarily in the war on the side of the Allies, the West would have faced the distressing prospect of coming under the sway of the Nazis and as a result earned indefinite political and military repression. By entering World War Two the US helped to ward off these bleak outcomes and indeed helped the major democracies of Western Europe to hold their own and thrive against fascism and dictatorial rule.

Republican administrations in the US in particular have not proved the greatest defenders of democratic rule the world over, but by helping to keep the international power balance in favour of democracy and fundamental human rights they could keep under a tight leash fascism and linked anti-democratic forces even in contemporary times. Russia’s invasion and continued occupation of parts of Ukraine reminds us starkly that the democracy versus fascism battle is far from over.

Right now, the US needs to remain on the side of the rest of the West very firmly, lest fascism enjoys another unfettered lease of life through the absence of countervailing and substantial military and political power.

However, by reducing its financial support for the UN and backing away from sustaining its humanitarian programs the world over the US could be laying the ground work for an aggravation of poverty in the South in particular and its accompaniments, such as, political repression, runaway social discontent and anarchy.

What should not go unnoticed by the US is the fact that peace and social stability in the South and the flourishing of the same conditions in the global North are symbiotically linked, although not so apparent at first blush. For instance, if illegal migration from the South to the US is a major problem for the US today, it is because poor countries are not receiving development assistance from the UN system to the required degree. Such deprivation on the part of the South leads to aggravating social discontent in the latter and consequences such as illegal migratory movements from South to North.

Accordingly, it will be in the North’s best interests to ensure that the South is not deprived of sustained development assistance since the latter is an essential condition for social contentment and stable governance, which factors in turn would guard against the emergence of phenomena such as illegal migration.

Meanwhile, democratic sections of the rest of the world in particular need to consider it a matter of conscience to ensure the sustenance and flourishing of the UN system. To be sure, the UN system is considerably flawed but at present it could be called the most equitable and fair among international development organizations and the most far-flung one. Without it world poverty would have proved unmanageable along with the ills that come along with it.

Dehumanizing poverty is an indictment on humanity. It stands to reason that the world community should rally round the UN and ensure its survival lest the abomination which is poverty flourishes. In this undertaking the world needs to stand united. Ambiguities on this score could be self-defeating for the world community.

For example, all groupings of countries that could demonstrate economic muscle need to figure prominently in this initiative. One such grouping is BRICS. Inasmuch as the US and the West should shrug aside Realpolitik considerations in this enterprise, the same goes for organizations such as BRICS.

The arrival at the above international consensus would be greatly facilitated by stepped up dialogue among states on the continued importance of the UN system. Fresh efforts to speed-up UN reform would prove major catalysts in bringing about these positive changes as well. Also requiring to be shunned is the blind pursuit of narrow national interests.

Continue Reading

Trending