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Tuesday, 2 January 2018 00:00 - - {{hitsCtrl.values.hits}}
By Skandha Gunasekara
Criticising the proposed Economic and Technology Corporation Agreement (ETCA) with India, the Professionals’ National Front of Sri Lanka charged that the Government had failed to even carry out a feasibility study for the bilateral agreement.
The Society of Information Technology Professionals Secretary Lasantha Wickramasinghe, addressing a seminar recently at the Public Library, said that Minister of Development Strategies and International Trade, Malik Samarawickrama, had not conducted a feasibility study of ETCA.
“How can the Government say that ETCA would be beneficial for the country if the Minister of Development Strategies and International Trade Malik Samarawickrama is yet to conduct a feasibility study?” he said.
The Professionals’ National Front held a seminar at the Public Library last Friday to inform the public of the alleged economic and social dangers Sri Lanka would face if the Government goes ahead with ETCA.
Wickremesinghe went on to say that ETCA would see taxes on products imported from India slashed by 90%.
“If we give such a tax concession for products we import from India, we will have to enter into a similar deal with China.”
He added that subsequently the Government would increase taxes from the masses to recover finances lost through the reduction of taxes on imported goods.
Ceylon Bank Employees Union Assistant Secretary Kesara Kottegoda, taking part in the seminar, said that a public-private partnership (PPP) was the “privatisation devil” in disguise.
“The Government is entering into various PPPs now but what are these PPPs really? They are nothing but another method of privatising State assets,” Kottegoda said, adding that PPP agreements resulted in the Government retaining minimum ownership while the private partner gains all the profits.
He then pointed out that numerous nations had tried PPPs but had opted out of the practice.
“From 2009-2012 India had PPPs but stopped soon after stating that while the practice was sound in theory it was impractical to implement successfully. European Union countries have also stopped PPPs. Several other countries such as Thailand and Portugal began development projects through PPPs but now these projects have been unsuccessful,” he said.
