Thursday 27th April, 2006 9

by Shamindra Ferdinando pointed out that he, too, had been at the receiving end of that paper. he newly elected councillors of the The outburst triggered an exchange of UPFA-run Panadura and Fight against corruption words between Markar and the party leader. TBandaragama Pradeshiya Sabhas Several persons including two senior were recently warned against fraudulent Inland Revenue officers and Hamza and corrupt activities. At the swearing in Kuthubdeen are in custody over the VAT ceremony of the newly appointed chiefs of refund scam. The elder Kuthubdeen recent- the two bodies Sunethra Lal Fernando and ly surrendered to the CID. Lalith Ellawela, the councillors were told The businessmen involved in the scam that they would face tough disciplinary had bought luxury houses, vehicles and sev- action irrespective of the political parties eral buildings in and its suburbs. they represented, if they were found guilty A fraction of the funds are believed to be of malpractices. Double Talk spent on charity with a government hospital “If you rob, I would not hesitate to take situated in the central region receiving Rs. 2 disciplinary action. I have the power to act million. and I have never protected corrupted per- Hamza had been among eight persons sons. I have already taken action against 18 attached to the UNP Media unit based at the local bodies,” Western Province Chief Opposition Leader’s office. After Minister who survived a Wickremesinghe returned to power in 2001, determined JVP-led move to impeach him Markar had taken the entire unit to the during the tail end of President Chandrika Media Ministry. Markar had also taken the Kumaratunga’s administration declared. Kuthubdeen brothers for a meeting with The JVP accused him of fraud, corruption, then Prime Minister Wickremesinghe to and particularly soliciting bribes. The JVP discuss leasing arrangements relating to a almost succeeed in impeaching him. block of State land in Colombo. However, the wily politician defeated the The Kuthubdeen brothers wanted to JVP bid with the support of an influential extend the lease period for a five-year period section of the UNP. Despite a large group of while Wickremesinghe insisted that they PA colleagues backing the JVP move, could recover the investment during the Kumaratunga, too, came to Cooray’s rescue. stipulated two-year period. He claimed that She appointed a Presidential this was the only occasion he lobbied on Commission which predictably cleared the behalf of the Kuthubdeen brothers. Chief Minister. Although the JVP urged He emphasised that he did not have any- President Mahinda Rajapakse to probe thing to do with them for four years as he Cooray’s conduct, Cooray continues to sur- was out of active politics. He identified for- vive. mer Interior Minister as Would they take the Chief Minister seri- one of the MPs in touch with Kamil ously? Would they ignore his warning? Or Kuthubdeen, prompting Amaratunga to would they continue as their predecessors deny any involvement in the VAT scam. and their senior colleagues in provincial UNP leader President Mahinda Rajapakse Markar also claimed that several MPs councils and parliament did? including , P. Harrison, The Chief Minister’s warning came in not to accept bribes, associate with the leader Ranil Wickremesinghe over the rack- Wickremesinghe’s tenure as prime minister. Cader Haddjiar, and the backdrop of President Rajapakse’s underworld, shady contractors and not et. Markar revealed that a key suspect want- Addressing the last UNP Working Kabeer Hashim had been in touch with the warning to members of the UPFA-run coun- allow their immediate family, relatives and ed in connection with the Rs. 3.57 billion Committee at Sirikotha, the MP said that Kuthubdeens. cils. Addressing councillors at the BMICH associates to take the law into their hands. VAT scam financially backed the UNP as far UNP leader Ranil Wickremesinghe accepted The sources said the SLFP-led PA, too, on April 16, the president urged them to Unfortunately their political masters are back as 1994. According to him the first the donation on behalf of the party. had benefited from Kuthubdeen’s funds. shun waste and corruption. He sought their doing exactly the opposite. While the donation was made shortly after their defeat According to him the second donation was Police believe that the suspect was tipped off assistance to implement the Mahinda Bribery Commission is busy apprehending at the August 1994 parliamentary polls. made ahead of the December 1999 presiden- about the investigation and fled the country Chintanaya while emphasising the need to traffic policemen, clerks and peons, big time The former MP, under fire over his links tial election contested by Wickremesinghe. before investigators nabbed him. avoid shady deals. He also urged them not to bribe takers are having a free hand with law with businessman Kamil Kuthubdeen, said Markar acknowledged that on both occa- Transparency International Chief J. C. allow their families to exercise their powers. enforcement authorities turning a blind that the donation was arranged by Hamza, sions Wickremesinghe issued receipts to Weliamuna pointed out that although the The President reiterated his concerns at eye. The Bribery Commission is yet to make the businessman’s elder brother employed Kuthubdeen. Auditor General revealed the scam as far another forum also at the BMICH on April a genuine effort to target major players. at the Opposition Leader’s Office located at But there had been several other dona- back as June 2005 relevant authorities 21. Provincial Councils Minister Janaka Unfortunately whatever the actions, aimed Sir Macus Fernando Mawatha. This was to tions including a fairly large one ahead of delayed action. Weliamuna emphasised that Bandara Tennakoon, too, urged the newly at politicians had been politically motivated facilitate the publication of a Tamil lan- the last presidential election. This particu- it would be important to find out why police elected councillors to be honest. The coun- thereby reducing the chance of a convic- guage newspaper under Markar’s purview. lar donation is believed to have been made action was delayed. cillors seem to be getting an overdose of tion. The investigation was triggered by dam- through an MP who attended the five star President Mahinda Rajapakse recently advice from their political masters albeit The newly appointed councillors, too, aging findings made by Auditor General S. wedding reception of Hamza’s daughter declared that properties of racketeers the allegations of corruption against minis- should be given a free hand. Please don’t C. Mayadunne early in June 2005. despite a funeral in the immediate family. would be confiscated. Rajapakse made this ters, MPs, senior officials including the restrict them. Give them the freedom neces- According to the Auditor General’s The Sunday Island in its April 9 issue threat amidst high profile investigations Chief of Defence Staff Admiral Daya sary to emulate their political masters Department although the report was revealed a damaging confrontation between into procurement of armaments by the Sandagiri and Sports Minister Jeevan thereby giving them the edge over their released on 3rd June, 2005, the relevant Wickremesinghe and Markar at the last navy following allegations that Chief of Kumaratunga. rivals. authorities did not act immediately. In fact Working Committee meeting (on April 7) Defence Staff Admiral Daya Sandagiri, The UNP leadership, too, recently Politicians and their henchmen grow up the first public statement was made in over a recent newspaper attack on Markar. when he was Commander of the Navy, advised their councillors on ethics. The together. The ongoing probe on the VAT Parliament on 22nd December, 2005 by The working committee member accused an manipulated the procurement process and Opposition is keen to run three dozen local scam revealed the existence of a direct link Anura Kumara Dissanayake, MP. influential section of the party of sullying that Sports Minister Jeevan Kumaratunga bodies under their control without contro- between the mastermind of the rip-off and Auditor General S. C. Mayadunne point- his name over links with the businessman was involved in a lucrative human smug- versy. The councillors, particularly heads the UNP.The UNP link would not have come ed out that the scam got underway in while directly accusing Wickremesinghe of gling racket. Sandagiri faces a presidential and deputies of bodies are under pressure out if former media minister imitiaz November 2002, two months after the VAT having a hand in the newspaper attack, a probe while Kumaratunga is subject to a Bakeer Markar did not clash with UNP scheme was introduced during charge strongly refuted by the leader who CID investigation. A sea change needed in higher education sector – V by Professor Ranjith only for tourists, but also for undergradu- Science can be almost as costly as a Senaratne ates, postgraduate and researchers in a medical degree programme. We should Vice-Chancellor of the University of wide variety of disciplines. We should also look into the reasons why attendance Ruhuna and Chairman of the Committee of Vice-Chancellors and explore this potential to the hilt, forging at some lectures is very poor. Directors (CVCD) international linkages with developed and It will be neither possible nor neces- CENTRAL BANK OF rapidly developing universities throughout sary for every university to offer special (Continued from yesterday) the world to strengthen our universities’ degree programmes in every discipline. ike the academics, administrative academic, research and entrepreneurial Presently, every university is trying to do staff should also be given postgrad- ISSUE OF RS. 4 BILLION TREASURY BONDS programmes. In addition to making our just that even though the cost of produc- uate training related to the positions Rs. 1,500 million Treasury Bonds under the series of 7.50% 2009 ‘B’, Rs. 1,000 million Treasury Bonds under the series of 7.20% L universities more visible and more com- ing a graduate increases tremendously if 2010 ‘A’ and Rs. 750 million Treasury Bonds under the series of 7.00% 2011 ‘A’ & Rs. 750 million Treasury Bonds under the series they hold so that they could discharge petitive in the world’s higher education the number of students in a degree pro- of 6.85% 2012 ‘A’ are being offered on an auction basis on Thursday, 27th April 2006. their duties and functions effectively and market, the arrival of foreign students and gramme is small. Here it is important to efficiently. The amount of attention paid to Details of these Treasury Bonds are as follows: researchers would also bring in a sizable establish threshold values; there should this has been far from adequate, which, in Series 7.50% 2009 ‘B’ 7.20% 2010 ‘B’ 7.00% 2011 ‘A’ 6.85% 2012 ‘A’ income in tuition fees and research be a minimum number of students my opinion, partly explains the present ISIN LKB00309C156 LKB00410B014 LKB00511B019 LKB00612D151 grants. The presence of foreigners on our required to offer a specialization pro- administrative deficiencies and inefficien- Amount offered Rs. 1,500 million Rs. 1,000 million Rs. 750 million Rs. 750 million campus would create new, global per- gramme and if that is not reached, stu- cies in the system. Such training for car- Period to maturity 3 years 4 years 5 years 6 years spectives in the universities, and help dents in that programme should be trans- rying out the tasks of their positions would Coupon rate 7.50% per annum 7.20% per annum 7.00% per annum 6.85% per annum open up Sri Lanka to the world. ferred to a university where numbers are Date of issue 15th March 2006 1st February 2006 1st February 2006 15th April 2006 also help transform bureaucrats into To this end, the University of Ruhuna above the threshold value. This besides Date of maturity 15th March 2009 1st February 2010 1st February 2011 15th April 2012 “bureapreneurs” who will see themselves has established a Centre for International improving the cost-effectiveness of Dates of interest payment 15th March and 1st February and 1st February and 15th April and as facilitators and catalysts rather than Affairs to promote such linkages ands degree programme would also afford stu- 15th September 1st August 1st August 15th October regulators, as people who add value to activities; the progress achieved to date is dents greater interaction with staff and Accrued interest rate Rs. 0.9783 per Rs.100/= Rs. 1.7901 per Rs. 100/= Rs. 1.7404 per Rs. 100/= Rs. 0.3182 per Rs.100/= the organisation. We may also need to quite impressive. students of other universities and getting change the titles and functions of the out- th Improving cost-effectiveness of new perspectives. Universities may also Date of auction 27 April 2006 dated Divisions in universities such as th degree programmes consider a “joint application” system for Closing date and time of tenders Thursday, 27 April 2006 at 11.00 a.m. Academic Establishments and Non-aca- nd According to UGC, the annual expen- students wishing to enter a State universi- Date of settlement 02 May 2006 demic Establishments to Division of diture of a university on an undergraduate ty, with all students submitting their appli- Minimum amount of bid Rupees five million (Rs. 5,000.000/-) and multiples of Rupees One million (Rs. 1,000,000/-) there Human Resources Development; more is around Rs. 125,000; the total expendi- cations to a central clearing house. This onwards. clearly defining their duties would help the ture on higher education is in the region of would of course require introduction of Bids are invited from the Primary Dealers on the basis of clean prices (exclusive of accrued interest from issue date of the heads of such divisions will get a better Rs 6 billion per annum. Is the country get- computerized application processing sys- series to the settlement date). Bids should be made only through the electronic network system. feel and understanding of what their posi- ting her money’s worth? The figures for tem, and perhaps even on-line application tions entail. The general public is invited to purchase Treasury Bonds from the following Primary Dealers and average costs do not reveal the great forms. This is already the procedure in Internationalization other secondary market participants variation among universities in the cost of many universities in the world. Higher education in the world is Bank of Ceylon 2541938 NatWealth Securities Ltd. 4703000 producing a graduate for a given degree The Committee of Vice-Chancellors becoming increasingly internationalized; Capital Alliance Ltd. 2317777 NSB Fund Management Co. Ltd. 2564706 programme. What does this variation and Directors (CVCD) proposes to organ- many universities are forging strategic Ceylinco Shriram Securities Ltd. 2564936 People’s Bank 2304484 mean? Does higher cost reflect better ize some workshops jointly with the UGC partnerships with foreign universities, cre- Commercial Bank of Ceylon Ltd. 2332319 Sampath Surakum Ltd. 2305842 quality, inefficient financial management to address some of the major issues high- ating synergies in education, research First Capital Treasuries Ltd. 2304430 Seylan Bank Asset Management Ltd. 2456340 or poor resource utilization? We need to lighted in this article, with the participation and enterprise. For instance, the National analyze objectively and deeply what is of key stakeholders. These workshops HNB Securities Ltd. 2661199 University of Singapore has signed over actually being spent on what in producing would make recommendations to the 100 memoranda of understanding with The Public Debt Department a university graduate in Sri Lanka Ministry of Education and Government to Central Bank of Sri Lanka leading universities and organisations in Mrs. C. Premaratne It is not an uncommon sight in our uni- implement some sweeping changes in 30, Janadhipathi Mawatha, Colombo 1. China alone since 1991, providing for Superintendent / Registrar of Public Debt versities to see only a few students, the higher education landscape of Sri Telephone: 2477281 Fax: 2477718-9 exchange of staff and students and for sometimes two to three, following special Lanka in order to enhance the recogni- http://www.centralbanklanka.org collaborative research. It is mandatory for degree programmes in large lecture tion, competitiveness and cost-effective- students in many European universities to rooms designed for a hundred or more. ness of degree programmes, and to carry out part of the academic pro- The services of visiting lecturers are also improve the governance, accountability 30, Janadipathi Mawatha, Colombo 1. gramme in a foreign country. Because of often obtained, but even they sometimes and financial management of universities our tropical climate, rich ecological and Telephone: 2477000, 24440330, 2330220 end up conducting such small classes. As in Sri Lanka. Such a sweeping sea biological diversity, cultural heritage and E-mail [email protected] a result, some special degree programme change is needed if the universities in Sri over two thousand years of recorded his- in the Humanities can be as costly as a Lanka are to take their rightful place web site: http//www.centralbanklanka.org tory, Sri Lankan probably only needs to be special degree programme in Science among the world’s institutions of higher “advertised” to undoubtedly become a and some special degree programmes in education. (Concluded) very popular and exciting destination not