Features
The debate against seeking IMF assistance was always flawed
by Sanjeewa Jayaweera
Despite the country being amid an economic Armageddon, a few individuals from the “old left” are still talking and writing nonsense. Prof. Tissa Vitarana (TV) and Vasudeva Nanayakkara (VN), both MPs, have expressed their vehement opposition to seeking a financial arrangement with the International Monetary Fund (IMF). It is a fact that neither gentleman represents the voice of the people. One is in parliament through the national list because he was otherwise un-electable and the other also needed accomodation from the SLPP to get returned. They should have gracefully retired from parliament long ago and allowed younger politicians to take their positions. I suppose wielding even limited political power is an aphrodisiac for even the most committed socialist!
A few other armchair writers have also expressed their opposition to seeking IMF assistance and critiquing neo-liberal economic theory. However, I am confident that many of them have never owned or managed an enterprise and been responsible for generating employment, managing cash flow, ensuring the sustainability of the business and other challenges that an entrepreneur has to overcome. What is theorized when not in a position of authority versus the realities when in power are poles apart.
Punish the Gang of Four for their mistakes
It is now widely accepted that the former Governors of the Central Bank, Professor W D Lakshman and Nivard Cabraal, and the Treasury Secretary S.R. Attygalle and P B Jayasundara, the Secretary to the President (Gang of Four), are responsible for the economic catastrophe that we are currently enduring. The so-called “homegrown” solution they spoke about never materialized.
Their policy decisions to reduce taxes, print money, and maintain low-interest rates and a forced exchange rate that was unrealistic are now acknowledged by many as the cause of the destruction of the country’s economy and the immense suffering we are undergoing. They steadfastly refused to seek the assistance of the IMF and restructure the foreign currency debt. Those who argued against such policies were ignored and labeled as “doomsday advocates.” The international rating agencies were criticized for downgrading the country’s credit rating. It is unfortunate that Ali Sabry, the current Finance Minister, is only now acknowledging the many mistakes made by the government. A case of closing the stable door after the horse has bolted.
In my view, the Gang of Four must be charged and prosecuted in a court of law for crimes against humanity. Undoubtedly, they failed as public servants in discharging their fiduciary duties. Unlike our uneducated politicians, they had a formal university/professional education, and as such, their guilt for the mistakes made and for the suffering we are undergoing is inexcusable.
Anura Priyadarshana Yapa, MP, stated in parliament that the decision to float the rupee overnight without having the tools to defend it had been taken unilaterally despite the IMF and other experts insisting that it be done gradually. Whenever there was mention that GOSL was contemplating going to the IMF, Cabraal would issue a Twitter message stating that was not the case. He insisted on paying US $ 500 million of International Sovereign Bonds that matured in January 2022 despite many independent economists and corporate sector leaders saying that the money should be preserved for the people. There needs to be an enquiry as to why the ISBs were settled and why the rupee was floated overnight. In addition, The Institute of Chartered Accountants of Sri Lanka needs to seriously consider debarring the membership of Cabraal for bringing disrepute to the Institute.
Why the President and PM should resign
There is no doubt that the President, Prime Minister, and the Cabinet need to accept full responsibility for the disaster that has befallen the country. Attempting to wash their hands off by stating that the Gang of Four is responsible will not do. Their incompetence and arrogance have resulted in causing so much anguish and suffering to the people. The goodwill and even adulation that existed for the President and the PM for ending the civil war has been replaced with anger and hatred. To believe otherwise would be a monumental mistake.
Many independent experts from inception criticized the decision to ban chemical fertilizers and forewarned the severe consequences. However, their views were ignored and ridiculed. It is not good enough to say, “yes, I agree that I made a mistake”, but “let’s look for the solutions and not who was responsible for the mistakes.”
Many believe that the mistakes made are due to a lack of economic and financial knowledge and incompetence. The need of the hour is to accept responsibility for the errors made and resign so that competent people can take over. Similar to the Gang of Four, politicians too should be subjected to a commission of inquiry and punished for crimes ranging from incompetence to corruption.
Retrenching and re-skilling surplus public sector employees
The debate against seeking IMF assistance in view was always flawed. It is common sense that if your expenses consistently exceed your revenue, you need to reduce the expenditure whether the IMF mandates it or not. When reduced during an economic upheaval, government expenditure is referred to as “austerity”, a dirty word to those on the left. That austerity measures are needed due to reckless spending is conveniently forgotten. Many who have been responsible for managing the bottom line of an enterprise know that if 80 per cent of the revenue is spent on salaries, then there is no other option than going bankrupt unless steps are taken to reduce the expenditure.
In Sri Lanka, we face this predicament because successive governments gave nonexistent government jobs to party supporters and graduates unable or refusing to fit into the private sector. The inducement for seeking a government job ranges from a lifetime non-contributory pension, poor work ethic and lack of accountability for non-performance.
I came across a research document a couple of years back where it was disclosed that there are 320,000 peons and drivers in the public sector accounting for 17 per cent of the workforce. That the peons are non-productive is a fact as maybe most drivers. It is also stated that of the 1.5 million public servants, the country’s requirement is for only 800,000. In all probability, it could be pruned down further if better productivity is achieved. The question is whether the government will continue to employ the surplus workforce or steps taken to retrench and reskill them in the areas that require them.
During my tenure in the private sector, I was involved in both the manufacturing and retail industries, where there was a significant shortage of human resources. Similarly, the construction and garment industries also face a chronic labour shortage. Those who are surplus and are retrenched and reskilled will need to come to terms with a change in work practices. The need to work shifts requires either reporting to work by 7 a.m. or finishing work at 10 p.m. In addition, they will need to work weekends and even public holidays. The question is, how many of our people are prepared to do the hard grind?
There will also be a need for employers to re-look at the wage structure and raise the minimum wages. That there will be no lifetime pension, but only a provident fund contributed by the employer and the employee accumulated during the period of employment will be another discipline that needs to be learnt. That the provident fund collected on retirement needs to be prudently invested and managed will hopefully enhance the financial acumen of the average citizen.
My comments are based on actual experiences during my working career and discussions with others involved in the business. For example, I recall the owner of a construction company who was building a factory lamenting that he had a daily shortfall of about 150 labourers and that many skilled workers such as masons, electricians and plumbers had given up working in the industry to be three-wheeler drivers.
The folly of not pricing at cost
It is only now that the folly of not pricing fuel, electricity, and gas at least at cost is acknowledged by all and sundry. That the country’s long-term economic well-being was subordinated as politicians feared actions to increase prices would result in them losing the next election was lost among the electorate. Despite spiraling world prices, we all got used to driving our vehicles to the petrol stations whenever we wanted and pumped whatever we wanted. Similarly, we were happy and contented that electricity tariffs were not adjusted for eight long years despite the Ceylon Electricity Board losing billions.
When there was a shortfall of hydro and coal power, we expected the government to supply uninterrupted electricity at whatever cost and believed that a surcharge to recover the additional cost should not be implemented. When gas prices soared, we expected the additional cost not to be passed on to us. The rich and the middle class were happy to accept and enjoy lower income tax rates despite knowing that reducing taxes without an appropriate reduction in expenses would result in a financial crisis. Why worry when it is someone else’s problem!
The mistakes made by us, the electorate, over several decades are now truly upon us. The disclosure by the finance minister in his recent parliamentary speech that the country has only about US $ 50 million usable foreign reserves sent shivers down my spine. That we will need to beg and borrow to just survive from all and sundry is indeed a fact. However, I doubt that many still understand how serious is our predicament. That life will get even more unbearable is as sure as the sun will rise tomorrow. So to all those who still pontificate that we should not go to the IMF, my message is “just grow up.”
Features
Ranking public services with AI — A roadmap to reviving institutions like SriLankan Airlines
Efficacy measures an organisation’s capacity to achieve its mission and intended outcomes under planned or optimal conditions. It differs from efficiency, which focuses on achieving objectives with minimal resources, and effectiveness, which evaluates results in real-world conditions. Today, modern AI tools, using publicly available data, enable objective assessment of the efficacy of Sri Lanka’s government institutions.
Among key public bodies, the Supreme Court of Sri Lanka emerges as the most efficacious, outperforming the Department of Inland Revenue, Sri Lanka Customs, the Election Commission, and Parliament. In the financial and regulatory sector, the Central Bank of Sri Lanka (CBSL) ranks highest, ahead of the Securities and Exchange Commission, the Public Utilities Commission, the Telecommunications Regulatory Commission, the Insurance Regulatory Commission, and the Sri Lanka Standards Institution.
Among state-owned enterprises, the Sri Lanka Ports Authority (SLPA) leads in efficacy, followed by Bank of Ceylon and People’s Bank. Other institutions assessed included the State Pharmaceuticals Corporation, the National Water Supply and Drainage Board, the Ceylon Electricity Board, the Ceylon Petroleum Corporation, and the Sri Lanka Transport Board. At the lower end of the spectrum were Lanka Sathosa and Sri Lankan Airlines, highlighting a critical challenge for the national economy.
Sri Lankan Airlines, consistently ranked at the bottom, has long been a financial drain. Despite successive governments’ reform attempts, sustainable solutions remain elusive.
Globally, the most profitable airlines operate as highly integrated, technology-enabled ecosystems rather than as fragmented departments. Operations, finance, fleet management, route planning, engineering, marketing, and customer service are closely coordinated, sharing real-time data to maximise efficiency, safety, and profitability.
The challenge for Sri Lankan Airlines is structural. Its operations are fragmented, overly hierarchical, and poorly aligned. Simply replacing the CEO or senior leadership will not address these deep-seated weaknesses. What the airline needs is a cohesive, integrated organisational ecosystem that leverages technology for cross-functional planning and real-time decision-making.
The government must urgently consider restructuring Sri Lankan Airlines to encourage:
=Joint planning across operational divisions
=Data-driven, evidence-based decision-making
=Continuous cross-functional consultation
=Collaborative strategic decisions on route rationalisation, fleet renewal, partnerships, and cost management, rather than exclusive top-down mandates
Sustainable reform requires systemic change. Without modernised organisational structures, stronger accountability, and aligned incentives across divisions, financial recovery will remain out of reach. An integrated, performance-oriented model offers the most realistic path to operational efficiency and long-term viability.
Reforming loss-making institutions like Sri Lankan Airlines is not merely a matter of leadership change — it is a structural overhaul essential to ensuring these entities contribute productively to the national economy rather than remain perpetual burdens.
By Chula Goonasekera – Citizen Analyst
Features
Why Pi Day?
International Day of Mathematics falls tomorrow
The approximate value of Pi (π) is 3.14 in mathematics. Therefore, the day 14 March is celebrated as the Pi Day. In 2019, UNESCO proclaimed 14 March as the International Day of Mathematics.
Ancient Babylonians and Egyptians figured out that the circumference of a circle is slightly more than three times its diameter. But they could not come up with an exact value for this ratio although they knew that it is a constant. This constant was later named as π which is a letter in the Greek alphabet.
It was the Greek mathematician Archimedes (250 BC) who was able to find an upper bound and a lower bound for this constant. He drew a circle of diameter one unit and drew hexagons inside and outside the circle such that the sides of each hexagon touch the sides of the circle. In mathematics the circle passing through all vertices of a polygon is called a ‘circumcircle’ and the largest circle that fits inside a polygon tangent to all its sides is called an ‘incircle’. The total length of the smaller hexagon then becomes the lower bound of π and the length of the hexagon outside the circle is the upper bound. He realised that by increasing the number of sides of the polygon can make the bounds get closer to the value of Pi and increased the number of sides to 12,24,48 and 60. He argued that by increasing the number of sides will ultimately result in obtaining the original circle, thereby laying the foundation for the theory of limits. He ended up with the lower bound as 22/7 and the upper bound 223/71. He could not continue his research as his hometown Syracuse was invaded by Romans and was killed by one of the soldiers. His last words were ‘do not disturb my circles’, perhaps a reference to his continuing efforts to find the value of π to a greater accuracy.
Archimedes can be considered as the father of geometry. His contributions revolutionised geometry and his methods anticipated integral calculus. He invented the pulley and the hydraulic screw for drawing water from a well. He also discovered the law of hydrostatics. He formulated the law of levers which states that a smaller weight placed farther from a pivot can balance a much heavier weight closer to it. He famously said “Give me a lever long enough and a place to stand and I will move the earth”.
Mathematicians have found many expressions for π as a sum of infinite series that converge to its value. One such famous series is the Leibniz Series found in 1674 by the German mathematician Gottfried Leibniz, which is given below.
π = 4 ( 1 – 1/3 + 1/5 – 1/7 + 1/9 – ………….)
The Indian mathematical genius Ramanujan came up with a magnificent formula in 1910. The short form of the formula is as follows.
π = 9801/(1103 √8)
For practical applications an approximation is sufficient. Even NASA uses only the approximation 3.141592653589793 for its interplanetary navigation calculations.
It is not just an interesting and curious number. It is used for calculations in navigation, encryption, space exploration, video game development and even in medicine. As π is fundamental to spherical geometry, it is at the heart of positioning systems in GPS navigations. It also contributes significantly to cybersecurity. As it is an irrational number it is an excellent foundation for generating randomness required in encryption and securing communications. In the medical field, it helps to calculate blood flow rates and pressure differentials. In diagnostic tools such as CT scans and MRI, pi is an important component in mathematical algorithms and signal processing techniques.
This elegant, never-ending number demonstrates how mathematics transforms into practical applications that shape our world. The possibilities of what it can do are infinite as the number itself. It has become a symbol of beauty and complexity in mathematics. “It matters little who first arrives at an idea, rather what is significant is how far that idea can go.” said Sophie Germain.
Mathematics fans are intrigued by this irrational number and attempt to calculate it as far as they can. In March 2022, Emma Haruka Iwao of Japan calculated it to 100 trillion decimal places in Google Cloud. It had taken 157 days. The Guinness World Record for reciting the number from memory is held by Rajveer Meena of India for 70000 decimal places over 10 hours.
Happy Pi Day!
The author is a senior examiner of the International Baccalaureate in the UK and an educational consultant at the Overseas School of Colombo.
by R N A de Silva
Features
Sheer rise of Realpolitik making the world see the brink
The recent humanly costly torpedoing of an Iranian naval vessel in Sri Lanka’s Exclusive Economic Zone by a US submarine has raised a number of issues of great importance to international political discourse and law that call for elucidation. It is best that enlightened commentary is brought to bear in such discussions because at present misleading and uninformed speculation on questions arising from the incident are being aired by particularly jingoistic politicians of Sri Lanka’s South which could prove deleterious.
As matters stand, there seems to be no credible evidence that the Indian state was aware of the impending torpedoing of the Iranian vessel but these acerbic-tongued politicians of Sri Lanka’s South would have the local public believe that the tragedy was triggered with India’s connivance. Likewise, India is accused of ‘embroiling’ Sri Lanka in the incident on account of seemingly having prior knowledge of it and not warning Sri Lanka about the impending disaster.
It is plain that a process is once again afoot to raise anti-India hysteria in Sri Lanka. An obligation is cast on the Sri Lankan government to ensure that incendiary speculation of the above kind is defeated and India-Sri Lanka relations are prevented from being in any way harmed. Proactive measures are needed by the Sri Lankan government and well meaning quarters to ensure that public discourse in such matters have a factual and rational basis. ‘Knowledge gaps’ could prove hazardous.
Meanwhile, there could be no doubt that Sri Lanka’s sovereignty was violated by the US because the sinking of the Iranian vessel took place in Sri Lanka’s Exclusive Economic Zone. While there is no international decrying of the incident, and this is to be regretted, Sri Lanka’s helplessness and small player status would enable the US to ‘get away with it’.
Could anything be done by the international community to hold the US to account over the act of lawlessness in question? None is the answer at present. This is because in the current ‘Global Disorder’ major powers could commit the gravest international irregularities with impunity. As the threadbare cliché declares, ‘Might is Right’….. or so it seems.
Unfortunately, the UN could only merely verbally denounce any violations of International Law by the world’s foremost powers. It cannot use countervailing force against violators of the law, for example, on account of the divided nature of the UN Security Council, whose permanent members have shown incapability of seeing eye-to-eye on grave matters relating to International Law and order over the decades.
The foregoing considerations could force the conclusion on uncritical sections that Political Realism or Realpolitik has won out in the end. A basic premise of the school of thought known as Political Realism is that power or force wielded by states and international actors determine the shape, direction and substance of international relations. This school stands in marked contrast to political idealists who essentially proclaim that moral norms and values determine the nature of local and international politics.
While, British political scientist Thomas Hobbes, for instance, was a proponent of Political Realism, political idealism has its roots in the teachings of Socrates, Plato and latterly Friedrich Hegel of Germany, to name just few such notables.
On the face of it, therefore, there is no getting way from the conclusion that coercive force is the deciding factor in international politics. If this were not so, US President Donald Trump in collaboration with Israeli Rightist Premier Benjamin Natanyahu could not have wielded the ‘big stick’, so to speak, on Iran, killed its Supreme Head of State, terrorized the Iranian public and gone ‘scot-free’. That is, currently, the US’ impunity seems to be limitless.
Moreover, the evidence is that the Western bloc is reuniting in the face of Iran’s threats to stymie the flow of oil from West Asia to the rest of the world. The recent G7 summit witnessed a coming together of the foremost powers of the global North to ensure that the West does not suffer grave negative consequences from any future blocking of western oil supplies.
Meanwhile, Israel is having a ‘free run’ of the Middle East, so to speak, picking out perceived adversarial powers, such as Lebanon, and militarily neutralizing them; once again with impunity. On the other hand, Iran has been bringing under assault, with no questions asked, Gulf states that are seen as allying with the US and Israel. West Asia is facing a compounded crisis and International Law seems to be helplessly silent.
Wittingly or unwittingly, matters at the heart of International Law and peace are being obfuscated by some pro-Trump administration commentators meanwhile. For example, retired US Navy Captain Brent Sadler has cited Article 51 of the UN Charter, which provides for the right to self or collective self-defence of UN member states in the face of armed attacks, as justifying the US sinking of the Iranian vessel (See page 2 of The Island of March 10, 2026). But the Article makes it clear that such measures could be resorted to by UN members only ‘ if an armed attack occurs’ against them and under no other circumstances. But no such thing happened in the incident in question and the US acted under a sheer threat perception.
Clearly, the US has violated the Article through its action and has once again demonstrated its tendency to arbitrarily use military might. The general drift of Sadler’s thinking is that in the face of pressing national priorities, obligations of a state under International Law could be side-stepped. This is a sure recipe for international anarchy because in such a policy environment states could pursue their national interests, irrespective of their merits, disregarding in the process their obligations towards the international community.
Moreover, Article 51 repeatedly reiterates the authority of the UN Security Council and the obligation of those states that act in self-defence to report to the Council and be guided by it. Sadler, therefore, could be said to have cited the Article very selectively, whereas, right along member states’ commitments to the UNSC are stressed.
However, it is beyond doubt that international anarchy has strengthened its grip over the world. While the US set destabilizing precedents after the crumbling of the Cold War that paved the way for the current anarchic situation, Russia further aggravated these degenerative trends through its invasion of Ukraine. Stepping back from anarchy has thus emerged as the prime challenge for the world community.
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