Connect with us

Features

The new Cold War is made of gold: A weapon against the dollar

Published

on

In 2024 and 2025, the world witnessed something extraordinary: gold, that ancient metal once thought to belong to kings and temples, suddenly became the new obsession of investors, governments, and even central bankers. Prices shattered all records, soaring past US$4,100 per ounce, doubling within a single year. Analysts scrambled to explain what was happening. Was this another bubble? A panic? Or something deeper—perhaps the beginning of a historic financial realignment?

The truth, as it turns out, lies not in the usual economic explanations of inflation or interest rates, but in two bigger and longer-lasting transformations reshaping the global financial landscape: the financialisation and the weaponisation of gold.

From Pharaohs to Financial Portfolios

Gold’s appeal has always gone beyond its glitter. From the tombs of the Egyptian pharaohs to the coins of the Roman emperors, gold has symbolised permanence and power. It became the ultimate standard of trust—the promise behind every paper note and national currency.

But the old “gold standard” system, which linked currencies directly to gold, had a dark side. It kept prices stable, yes, but at the cost of human suffering. When economies slowed, governments were forced to cut spending and raise interest rates to protect their gold reserves; policies that deepened recessions and unemployment. Mining itself was brutal, leaving scars on people and the planet.

When the United States finally abandoned the gold standard in 1971, many thought gold would fade into history. Yet, half a century later, gold is back—not as money in your pocket, but as a shadow currency in the portfolios of the powerful.

The New Gold Rush—Fuelled by Finance, Not Pickaxes

Fast-forward to the 21st century. Gold’s comeback has been powered not by miners but by markets. The launch of Exchange Traded Funds (ETFs) —financial products that let anyone buy or sell gold with a few clicks—has turned an ancient commodity into a modern investment craze.

Before ETFs, buying gold meant storing heavy bars or coins. Today, a college student can own gold on their phone app. This democratisation of access has led to massive inflows, more than US$60 billion in just nine months, according to the World Gold Council.

This surge in financial participation has changed gold’s very nature. It now moves less like a raw material and more like a stock, rising and falling with global risk appetite and social media sentiment. The “fear of missing out” (FOMO) effect has amplified every uptick, creating powerful feedback loops: rising prices attract new investors, whose enthusiasm drives prices even higher.

What was once a hedge against crisis has become, ironically, a product of financial exuberance. Gold is now as much a part of Wall Street as it is of the jewellery trade.

The Geopolitical Weaponisation of Gold

But there’s another, far more serious driver of this golden surge, one that reaches into the heart of global politics. In the last few years, central banks in China, Russia, India, and other emerging economies, have been buying gold at a record pace. Why? To protect themselves from the dominance of the US dollar, and the political power that comes with it.

When Western nations froze Russia’s dollar reserves, after the invasion of Ukraine, and blocked its access to global payment systems, like SWIFT, it sent a chilling message to other countries: your savings are only safe as long as Washington allows it

. In response, these countries began quietly shifting their reserves into gold, a neutral, physical asset that can’t be digitally seized or sanctioned.

Russia’s Central Bank now holds one of the world’s largest gold piles. China, too, has been a relentless buyer, increasing its official gold reserves every month, since 2022. For them, gold is not just an investment—it’s an insurance policy against Western financial power.

This is what economists call “de-dollarisation”: a gradual move away from dependence on the US dollar. Gold, with no flag or central bank of its own, is the only truly global form of money left.

A Fragmented Financial World

This geopolitical gold rush has created a form of price-inelastic demand; meaning countries will buy gold no matter how expensive it becomes. They aren’t chasing profits; they’re seeking safety. This type of demand places a firm floor under gold prices, making future crashes less likely and rallies more sustainable.

In other words, this isn’t a temporary boom. It’s a structural revaluation; a rewriting of what gold is worth in an age of political and digital fragility.

For the first time since the Cold War, the world is moving toward multiple financial poles. On one side, the dollar-based Western bloc; on the other, a growing coalition of countries building their own “sanctions-proof” reserves. Gold sits at the centre of this new global contest, quietly, gleaming, unaligned.

Winners and Losers in the Golden Age

Not everyone will lose in this new era. Countries rich in gold resources (like Australia, South Africa, and Canada) are emerging as quiet beneficiaries of this geopolitical reordering.

Australia, already a mining powerhouse, has seen gold exports skyrocket. If current trends continue, gold could overtake coal and iron ore to become the country’s second-largest export within the next two years. For a nation navigating the energy transition and trade tensions, the timing couldn’t be better.

For investors, gold has regained its reputation as a “safe haven,” but with a modern twist. It is now both a defensive asset and a speculative vehicle, blending ancient psychology with algorithmic trading. While some analysts, like Goldman Sachs, predict prices could reach US$4,900 by 2026, others warn of volatility if peace returns or interest rates rise sharply.

Still, even skeptics admit gold is no longer just reacting to crises—it’s part of the crisis-proofing itself.

The Psychology of Permanence

Why does gold, of all things, endure when entire currencies come and go? Part of the answer lies in human psychology. Gold is tangible, immutable, and universal. It glitters the same way in Beijing, Moscow, or Colombo. It is an anti-digital asset in an increasingly virtual world, unchanged by code, hacking, or political decree.

This emotional dimension, as economists now admit, carries real financial power. In times of social distrust and institutional decay, tangible symbols of permanence, like gold, become repositories of faith.

As one trader put it recently, “You can’t print gold, and you can’t freeze it.”

Global South’s Golden Shield

For many developing nations, gold accumulation is not just economic; it’s existential. Countries in the Global South have learned painful lessons from debt crises, currency collapses, and the volatility of foreign aid. Gold offers them a rare form of monetary sovereignty.

Sri Lanka, for example, has faced severe balance-of-payments challenges and currency depreciation. While it cannot match the gold-hoarding power of China or Russia, its policymakers now openly discuss diversifying reserves beyond dollars and euros. For smaller nations, even modest gold holdings can serve as a symbolic statement of independence and resilience.

In this sense, the “Goldasization” of the global economy represents a subtle but profound shift in power, from the financial centres of the West to the resource and production centres of the Global South.

The Limits of Glitter

Yet, this transformation is not without risk. The more gold becomes a political weapon, the more volatile its price could become. If major powers begin to hoard rather than trade, gold markets could tighten dramatically, distorting their role as a neutral store of value.

Moreover, the human and environmental cost of new gold mining could once again rise as demand surges. Already, illegal and unsafe mining has reappeared in parts of Africa and Latin America, raising questions about sustainability and ethics.

So, while gold may shine bright, it casts long shadows, just as it did centuries ago.

The Return of Eternal Metal

Gold’s story is, in many ways, humanity’s story: our longing for permanence in an uncertain world. It survived the fall of empires, the rise of digital currencies, and even the invention of Bitcoin. Each time it seems obsolete, it reinvents itself.

Today, in a world divided by politics, debt, and data, gold is once again uniting investors and governments in their search for something that lasts. Whether this new “gold standard” will bring stability or new inequalities remains to be seen.

But one thing is certain: the golden age is not behind us, it’s being remade before our eyes.



Continue Reading
Advertisement
Click to comment

Leave a Reply

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

Features

El Niño and Sri Lanka: Safeguarding food security in uncertain times

Published

on

El Niño

by Prof. Janaka Wijesinghe, Dr. Nishala Wedamulla and Gayathma Weerawanni

As climate variability becomes an increasing challenge for nations worldwide, Sri Lanka faces growing concerns over the impact of El Niño, a natural climate phenomenon that can disrupt rainfall patterns, increase temperatures, and place additional pressure on agricultural production. For a country where agriculture remains a vital part of the economy and rural livelihoods, preparing for climate uncertainty has become essential to safeguarding food security. Food security includes not only the availability of food but also access to nutritious and affordable food.

Climate-induced disruptions to agricultural production can affect all dimensions of food security. Vulnerable populations, including low-income households and rural communities, are often the most affected by fluctuations in food supply and market prices.

Cause of the phenomenon

El Niño occurs when sea surface temperatures in the central and eastern Pacific Ocean become unusually warmer than normal, influencing global weather patterns. Although the phenomenon originates thousands of kilometres away, its effects are felt across many regions, including South Asia. According to experts, in Sri Lanka, El Niño events can contribute to irregular rainfall, prolonged dry periods, higher temperatures, and changes in the timing and intensity of monsoon rains.

Sri Lanka’s agriculture sector is particularly vulnerable to these climate fluctuations and faces increasing challenges from climate variability, with the El Niño phenomenon emerging as one of the most significant threats to national food security. As global temperatures continue to rise, understanding and preparing for the impacts of El Niño has become essential for ensuring a stable food supply and protecting the livelihoods of millions of Sri Lankans. Mainly, rice, the staple food of Sri Lanka, depends heavily on reliable water availability.

Reduced rainfall during critical cultivation periods can lead to drought conditions, lower reservoir levels, and can affect paddy yields, while excessive rainfall at unexpected times can damage the crop through flooding, diseases, and poor field conditions. In addition, other crops, including vegetables, fruits, and plantation crops, may also experience productivity losses due to heat stress and water shortages. These impacts can result in food shortages, rising food prices, and reduced incomes for farming communities.

The consequences of climate-related agricultural disruptions extend beyond farmers. Reduced crop production can lead to increased food prices, greater dependence on imports, and challenges in maintaining a stable food supply. For vulnerable communities, especially small-scale farmers and low-income households, these impacts can significantly affect nutrition and livelihoods.

Need to reduce postharvest losses

In such circumstances, reducing postharvest losses becomes a critical component of national food security strategies. Food that is produced but lost after harvesting represents wasted land, water, energy, labour, and financial resources invested in the production. In Sri Lanka, significant quantities of fruits, vegetables, grains, and other agricultural commodities are lost due to inadequate harvesting practices, poor postharvest handling, unsuitable storage conditions, inefficient transportation, and limited processing facilities. During periods of climate stress, such as El Niño-induced droughts, these losses become even more serious because the available food supply is already under pressure. Minimising postharvest losses can, therefore, increase food availability without requiring additional land or agricultural inputs. Hence, strengthening postharvest management can make a major contribution to climate resilience. Improved harvesting techniques, better packaging, temperature-controlled storage, efficient transportation systems, and modern processing technologies can extend the shelf life of agricultural products and reduce wastage.

How to face challenges

Promoting small-scale processing and value addition can also help farmers preserve surplus production and maintain income during periods of market fluctuations. Achieving food security in an era of climate uncertainty requires a comprehensive approach that considers both production and preservation. Increasing agricultural productivity alone is not sufficient if a significant portion of harvested food is lost before reaching consumers. Reducing postharvest losses should be recognised as one of the most practical, cost-effective, and sustainable solutions for ensuring food availability.

Moreover, Sri Lanka has opportunities to strengthen its resilience against El Niño-related challenges. Improving climate forecasting systems and ensuring that farmers receive timely weather information can help communities make better decisions on planting dates, crop selection, and water management. Climate-smart agricultural practices, such as drought-tolerant crop varieties, efficient irrigation methods, soil conservation, and improved water storage, can reduce risks associated with changing weather patterns. Water management remains one of the most important strategies for climate resilience. Expanding rainwater harvesting, maintaining irrigation systems, and protecting watersheds can help communities manage water shortages during dry periods.

Importance of climate-smart agriculture

At the same time, Sri Lanka must continue to promote climate-smart agricultural practices. The use of drought-tolerant crop varieties, efficient irrigation systems, soil conservation methods, and improved weather forecasting services can help farmers adapt to changing climate conditions. Providing timely climate information enables farmers to make informed decisions regarding crop selection, planting schedules, and resource management.

Investment in research and innovation will also play a key role. Agricultural institutions and researchers can support farmers by developing technologies and practices suited to changing climatic conditions. Promoting crop diversification can further reduce dependence on a limited number of crops and provide alternative sources of income during periods of climatic stress.

Food security in the face of climate change requires cooperation among government agencies, farmers, researchers, private-sector stakeholders, and communities. Early warning systems, disaster preparedness plans, and supportive agricultural policies can help minimise the effects of extreme climate events. As climate uncertainty becomes the new normal, proactive measures are essential to protect Sri Lanka’s food future. While El Niño presents significant challenges, strategic planning, innovation, and collaboration can help the nation build resilience and ensure that every citizen has access to safe, nutritious, and affordable food. More importantly, policy support is crucial in building a resilient food system. Government agencies, research institutions, and the private sector must work together to develop sustainable agricultural practices and strengthen food supply chains. Diversifying food production and reducing post-harvest losses can also contribute to greater food security.

El Niño as a stark reminder

El Niño is a reminder that climate challenges do not respect geographical boundaries. While Sri Lanka cannot control global climate phenomena, it can strengthen its ability to adapt and respond. By combining scientific knowledge, sustainable farming practices, and effective planning, the nation can protect its food systems and ensure a more secure future in an era of increasing climate uncertainty.

As the climate continues to change, preparedness is no longer an option; it is a necessity for protecting Sri Lanka’s food security and the livelihoods of generations to come.

Continue Reading

Features

Getting organised for the new arrival

Published

on

BY Dr B. J. C. Perera
MBBS(Cey), DCH(Cey), DCH(Eng), MD(Paediatrics), MRCP(UK), FRCP(Edin), FRCP(Lond),
FRCPCH(UK), FSLCPaed, FCCP, Hony. FRCPCH(UK), Hony. FCGP(SL)
Specialist Consultant Paediatrician and Honorary Senior Fellow,
Postgraduate Institute of Medicine, University of Colombo, Sri Lanka.

An independent freelance medical correspondent

KEY POINTS

=Being parents of a newborn baby is a tremendous responsibility.

=To attend to the necessary chores and duties at home, the home set-up must be well organised.

=The routine care of a baby, throughout 24 hours, is a demanding one. But if things are well looked after and prearranged, it would make the task that much easier.

=It is a joint responsibility of the mother, as well as the father, and all other inmates of the same household.

At long last, the baby has arrived, and the parents will be taking him or her home. Usually in uncomplicated deliveries, even after Caesarean operations, the baby is sent home in a couple of days. It is generally a hectic time, and if steps have not already been taken to get things organised at home, it can be quite difficult for new parents. Getting things in shape should have started well before the baby’s birth, but even if he or she arrives earlier and unexpectedly, getting organised at that stage is important to make life easier for both parents. This is perhaps easier said than done, especially for a young couple, but it is a process that would pay dividends. All that is required is plenty of common sense. Getting organised for the newborn baby well in time will make life that much easier in the subsequent months and years to come.

An important thing to do is to arrange everything in the bedroom so that the ‘baby things’ are easily accessible and you know where to find each item. As an example, it should not be necessary to look high and low for nappy pins once a nappy has been put on the baby. What is advocated today is to keep the baby in the same bed as the parents, and this means an extra cot may not always be necessary. It would also provide a little more space in the room, which would otherwise have been taken up by a cot. However, a small baby cot is sometimes useful to put the baby to sleep and provide some rest and relaxation to the mother.

If the baby is kept on the same bed as the mother, there is no danger of the mother rolling over the baby during sleep, as the natural in-built maternal instincts would wake her up at the slightest touch from the baby or the tiniest noise from the baby.

Clothes and nappies

The clothes and nappies of the baby should be easily accessible and available at all times. It is not necessary to buy a new almirah or a cupboard for the baby. A couple of shelves of a cupboard that is already in the bedroom would do nicely. Even a small separate wooden or cane rack with shelves too would be more than adequate for this purpose. The secret is to still have sufficient room in your own bedroom to move about even after getting the baby’s things organised. Sweeping and cleaning the bedroom should be done every day. Some people elect to wet-mop the floor, which is a really good thing. These tasks should not take too much time and could be quickly attended to when the baby is resting quietly after a feed.

Other people in the household and perhaps the father of the baby could help in this regard. Battery torch lights and emergency lights for power failures should be kept in places that are easily accessible, even in the dark. It is no joke to start looking for these things when there is a loss of electrical power. One needs to be prepared, as such unexpected power failures are so very frequent in certain areas of the country. Incidentally, there is nothing against the use of electric fans in the bedroom where the baby is.

During very warm days, it will only make the baby more comfortable. It will not cause any illness. The same applies to air conditioners, provided they are maintained well and serviced regularly. If there is a telephone in the house, it would be worthwhile getting a cordless extension so that the mother does not have to run around in circles to answer the phone while attending to the needs of the baby. This is of course minimised completely today with the use of modern mobile phones.

Feeding the baby should not cause any problems at all. The need of the hour is to exclusively breastfeed for the first six months. THERE IS NO OTHER MILK THAT COMES EVEN CLOSE TO THE GOODNESS OF MOTHER’S MILK – FULL STOP; NO ARGUMENTS AND NO BUTS. There is extremely convincing and overriding scientific evidence for breast milk being the very best form of nutrition for a new arrival. It is the golden elixir of life, and there is nothing else, absolutely nothing else, that is as good as mother’s milk for a baby. The infant milk-food companies can even shout from the rooftops but they have no chance, whatsoever, against proven scientific medical evidence. It is also important to stress that babies need to be fed on demand and very definitely NOT BY THE CLOCK. All babies will indicate by various actions when they are hungry and feel the need to be fed.

Breastfeeding obviates need for bottles, etc.,

Exclusive breastfeeding would obviate the need for bottles, teats, cups, spoons, formula milk powder, sterilising equipment, etc. There is no extra cost involved as well. Government legislation has provided working mothers with sufficient maternity leave to feed their babies with human milk for at least the first four months. If there are ways of getting a little bit more leave to stretch it to six months, this should be explored to the fullest, as the benefits of exclusive breastfeeding are worth a lot more than money could buy. There are added benefits of breastfeeding such as control of the mother’s weight and figure as she burns up a significant number of calories in producing her milk.

When it is time to give the baby a bath, arrange everything you need around the place where you are going to bathe the baby. Towels, soap, etc., should be at arm’s length. If there is help available at home in the form of members of the extended family or domestic aides, this is the time you could really make use of them. When the mother gets used to the procedure, bathing a baby is no big deal. In most instances, it is a thing that both mother and baby would enjoy. Get the baby used to bathing as early as possible. This will prevent him or her from making an almighty fuss at bath time later on. Almost all babies love to be in water provided they are introduced to bathing very early in their lives.

The mother must arrange her mealtimes and resting periods to coincide with the times when the baby is quiet or is sleeping. Mother’s meals just need to be nutritious, and everyday foods are more than adequate. It is not necessary to go out of the way to provide her with expensive supplementary foods or additional forms of nutrition. There is no scientific evidence to say that certain foods are not good for nursing mothers. The notions of “heaty” foods and “cooling” foods have no scientific rationale.

Most authorities believe that a nursing mother could and should eat anything and everything. The only thing necessary is to provide a nicely balanced and adequate diet. The mother needs to get a sufficient and acceptable amount of sleep, especially during the day. This is particularly important because she may have to get up several times during the night to feed and change clothes of the baby. Steps must be taken to provide her with these essential periods of rest. Organising a routine to help her with this aspect would be most desirable.

Father’s work schedule

It is also advantageous for the father to get his work schedules and duties rearranged as much as possible and in such a manner so as to provide sufficient time at home to help in caring for the baby. This, of course, depends on the exact type of work that he is involved in. In each and every case, a genuine effort should be made to have quality time with the mother and the baby. This is particularly useful for the first few months of the baby’s life. As far as possible, the father should be equally involved with the rearing practices of the baby. Looking after a baby should be a shared responsibility. This process also enhances the baby developing a very beneficial and desirable bond with both parents.

The arrival of a new baby should not lead to a complete social embargo for the family. One could travel outside the home with the baby, especially if the times of travel are carefully planned to suit the requirements of the baby, such as feeding times. Even then, if the baby is breastfed, he or she could be fed almost anywhere. Some babies are, however, prone to throwing up while travelling immediately after a feed. It is generally better to avoid intensely overcrowded social gatherings, but social visiting, attending weddings and parties, with the baby in tow, are quite in order, even when the baby is just a few weeks old.

If the parents own a car, it is a good idea to get a commercially available baby car seat that is fitted to the rear seat of the car. The sooner you get the baby used to travelling in this baby seat, the better it is for all around. It is the safest way to take the baby in the car. In some of the Western countries, newborn babies are not discharged from the hospital till a car seat is fitted to the car. Unfortunately, baby car seats are not that popular in this country, but it must be pointed out that they contribute a great deal towards the safety of a baby in the case of a traffic accident.

Unnecessary expenditure

Many parents spend unnecessary amounts of money on a baby. All kinds of expensive items, such as perfumes, colognes, powders, etc., are not quite essential for a baby. The natural milky smell of a baby is quite unique. The clothes that one buys for a baby should be simple, uncomplicated, light and preferably of cotton origin. Their design should be very safe for the baby. It is best to remember that babies grow up very fast, especially in the first two years of life and tend to outgrow clothes in next to no time. Even the toys for the baby should be appropriately selected and should be very safe and eminently affordable.

There is no reason whatsoever that the expenses for a little newborn baby should be more than what one would normally need to spend on an adult.

A newborn baby should be such a joy for the entire family, including the extended family. Grandparents would usually dote on the baby. If there are other children, it is important to provide the necessary attention to them as well so that they would not feel neglected. It would prevent sibling rivalry, and the other kids would go on to love the new arrival. All newborn babies are quite a delight and not a burden, and it is definitely their right to be treated as such.

Continue Reading

Features

Shouldn’t foreign expert be appointed MD of SLP?

Published

on

by J. A. A. S.R anasinghe,
Productivity Specialist
rathula49@gmail.com

The recent appointment of Vipul Misra, an Indian national, as Acting Chief Executive Officer of Sri Lankan Airlines deserves to be viewed from a much broader perspective than simply as an appointment to a vacant position. In my view, it is a sensible and courageous decision by the Government.

Sri Lankan Airlines is a national asset operating in an intensely competitive international aviation industry. It requires specialised aviation knowledge, commercial acumen, operational discipline and international exposure. According to the report on his appointment, Misra brings more than two decades of aviation engineering and leadership experience, including experience with major Indian carriers such as Air India, Vistara, IndiGo, SpiceJet, Kingfisher Airlines and Air Deccan.

Dr. Sarath Obeysekera, a high-profile CEO and the former Managing Director of Colombo Dockyard PLC contends the appropriateness of filling senior corporate positions of the public sector from foreign nationals, when positions of high-calibre CEOs are not locally available. He says that Sri Lankan Airlines has previously benefited from expatriate professional leadership. During the Emirates management period from 1998 to 2008, British aviation professional Peter Hill led the airline through rebranding, fleet modernisation, network expansion and improvements in service standards.

The airline reported profits during several of those years, although later analysis showed that gains from aircraft sales and leaseback transactions contributed significantly to some results. Nevertheless, the airline was run with greater commercial discipline, clearer accountability and considerably less day-to-day political interference.

Following the end of Emirates management, due to direct intervention by the then President, Sri Lankan Airlines faced turbulent situations and passed through numerous chairmen, chief executives, restructuring proposals, procurement controversies and political interventions while taxpayers continued to carry its debts and losses.

It would be unfair to suggest that every Sri Lankan chairman or CEO was incompetent or corrupt. Sri Lanka has produced many outstanding aviation professionals. The deeper problem has been a governance system in which even capable executives can be weakened by political appointments, interference in commercial decisions, frequent leadership changes and the absence of measurable accountability. He says that the arrival of Indian professional leadership is not limited to aviation.

Colombo Dockyard presents another significant example. Following the acquisition of a controlling interest by India’s state-owned Mazagon Dock Shipbuilders, Capt. Jagmohan was appointed its non-executive chairman. He is a naval architect with extensive experience in warship design, naval dockyards, shipbuilding and major maritime projects. (Mazagon Dock leadership)⁠

This partnership could give Colombo Dockyard access to capital, technology, Indian and international orders, specialised naval work and a much larger supply chain. However, because the Dockyard is an important national maritime asset, success must be measured by the creation of skilled Sri Lankan employment, expansion into commercial and offshore engineering, growth in exports, transfer of technology and development of local managerial successors—not merely by a change of ownership or boardroom nationality.

The rise of Indian professionals should not surprise us. Sundar Pichai leads Alphabet and Google, while Indian-born executives have led several other globally important technology and industrial corporations. India has built an enormous pool of engineers, scientists, accountants and managers through technical education, English-language capability, exposure to large competitive markets and international professional mobility.

India’s formal national ambition is Viksit Bharat 2047—to become a developed nation by the centenary of its independence. The target is 2047 rather than 2040, and its vision specifically combines economic growth, skills, social progress, sustainability and good governance. (Government of India)

The important lesson is that nationality should not be the principal criterion for selecting the person to lead a strategically important State enterprise. Competence should be, according to Dr. Obeysekera. This principle should now be extended to another equally important national institution — the Sri Lanka Ports Authority (SLPA), as this post has fallen vacant and an advertisement has appeared in the newspapers calling for applications from suitable applicants.

The recent discussion surrounding the vacant substantive post of Managing Director of the SLPA, including Dr. Sarath Obeysekera’s call for the appointment of a “developer, not merely an administrator”, raises a fundamental question: Are we looking for someone merely to administer the existing machinery of the Ports Authority, or someone capable of transforming Sri Lanka’s ports into major engines of investment, industry, employment and foreign-exchange earnings?

The distinction is crucial. On the other hand, one should not be over excited for the manner in which foreign nationals are employed not in hundred perhaps in thousands in manual operational activities in heavy industries in Sri Lanka. In the case of Shipbuilding and Construction industries, the deployment of welders and skilled workers have now become a norm rather than an exception.

Sri Lanka possesses enormous maritime advantages. Colombo is strategically located on one of the world’s busiest shipping routes, while Hambantota and Trincomalee offer substantial possibilities for future development. Yet the challenge is no longer simply to operate ports efficiently. The country must develop the ecosystem around them — logistics, ship repair, shipbuilding, offshore services, maritime industries, warehousing, bunkering, technology, investment and related export-oriented activities.

This requires a different type of leadership. The government should therefore consider applying the same bold thinking demonstrated in the Sri Lankan Airlines appointment to the SLPA. If the best person to transform the Ports Authority is a Sri Lankan, appoint that person. If the best candidate is an internationally recognised professional from India, Singapore, Dubai, Europe, Japan or elsewhere, why should nationality become a barrier?

Indeed, the Sri Lanka Ports Authority Act itself provides that the Minister shall appoint a “competent and experienced person” as Managing Director, whose responsibility includes directing the business, exercising the Authority’s functions and controlling its employees. That statutory emphasis on competence and experience should guide the selection.

What Sri Lanka needs is not another appointment based primarily on seniority, institutional familiarity or traditional public-sector credentials. It needs a leader with a proven international track record in port development, maritime logistics, commercialisation, investment attraction and large-scale project execution. Such a person should be given clear targets and held accountable for delivering them.

The appointment of an international professional should not be regarded as an admission of failure on the part of Sri Lankan professionals. On the contrary, it would demonstrate confidence in the principle that Sri Lanka’s national assets deserve the best available talent, wherever that talent may be found.

The government has already demonstrated this new approach through the Sri Lankan Airlines appointment. I respectfully suggest that it should now have the courage to apply the same principle to the Sri Lanka Ports Authority.

Our national assets are too valuable to be confined to a search for talent within national boundaries. The best person for the job should be given the job irrespective of nationality.

Continue Reading

Trending