Tuesday, October 26, 2010

Stock broker’s call for elimination of disruptive elements of economic miracle condemned

A call by a leading stock broker’s research analyst to immediately identify and eliminate disruptive elements in the country’s progress to economic miracle of Asia has been roundly condemned.

In the routine “Technical Analytical and Economic/Political Outlook” provided on market days by Capital Trust Research yesterday had the deadly call. It stated "We must never forget the fact that the war against the deadly terrorists was won in early 2009 but the war against saboteurs, traitors and subversive elements is continuing. The Government’s noble goal of making our motherland the ‘Financial Hub of South Asia’ and the ‘Economic Miracle of Asia’ will remain as empty slogans unless these disruptive elements who are ‘perched comfortably on the horns and devouring up the ears’ are identified immediately and eliminated early.

Some of the recipients of the email who are mostly clients of Capital Trust and other stakeholders were furious over the call for the elimination of so called “traitors” who criticise the Government’s economic management in general.

Incidentally yesterday’s remark by Capital Trust coincided with a centre spread in the Daily FT based on an interview with UNP MP and Consultant Economist Dr. Harsha de Silva. The report titled “Chinthanaya has moved to Hinsanaya and Vindanaya” featured a critique on a range of issues of governance and economics by Dr. de Silva.

Analysts said that in a true democracy people should have the right to hold divergent views and critique policies if necessary and drumming up for elimination of those who do so was unbecoming of a professional broking firm.

Mahinda and Harsha pow-wow in P’ment
PRESIDENT Mahinda Rajapaksa and UNP MP and consultant economist Dr. Harsha de Silva had an absorbing yet friendly discussion yesterday at the formers’ office in Parliament.

This was post Finance Ministry Consultative Committee meeting which the President chaired.
The meeting between Mahinda and de Silva was midst a widely read report in yesterday’s Daily FT titled “Chinthanaya has moved to Hinsanaya and Vindanaya” based on an interview with Harsha. In the interview Harsha critiqued a range of issues of governance and economics under Mahinda Chinathanaya.

Whilst Harsha had been late for the Consultative Committee meeting having missed the original notice on account of having been abroad, he and the President along with a few senior Ministers and officials had a chat for over an hour.

Harsha told the Daily FT that the discussion with the President was friendly and was in the best spirit of democracy. “We discussed many matters of importance to the economy and the President took today's critical interview in the spirit of me being critical within a democratic framework,” Harsha said.
The UNP MP said that President himself had welcomed the critique and had recommended bringing forth pertinent economic issues. The President had also said that the Budget debate has been extended to give the Opposition to critique and highlight issues if necessary.

In response to a call by the stockbroker for elimination of elements allegedly disruptive to economic growth of the country, Harsha said that it was “disgusting.” “The President can criticise me and vice versa on matters of policy etc. but we don’t call for each other’s elimination. Exchange of divergent views is an integral part of democracy,” Harsha added.

source - www.ft.lk

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