It is now more than a month since the landmark LMSL judgement and to no surprise given the parlous state of affairs in this country, it appears to be ‘business as usual’ with two of the parties against whom the judgment has been particularly damning still continuing to hold the very same office mainly responsible for the horrible corruption – Secretary to the Treasury and Chairman of JKH respectively.

While the former was in Beijing for the Olympics with the country’s head of state and reportedly participating at a meeting even with the Chinese head of state, the latter has reportedly been given a vote of confidence by the JKH board and its key shareholders. The parties responsible for the outrageous LMSL divestiture resulting in the poor people of this country losing billions of rupees have not been subject to any meaningful censure from our politicians of all hues, the corporate sector, the NGOs and most reprehensibly the professionals in the Organisation of Professional Association. Mr. Susantha Ratnayake continues to hold office not only as JKH Chairman but also as Deputy Vice Chairman of the country’s influential business Chamber – Ceylon Chamber of Commerce while Dr. P.B. Jayasundera continues as the Secretary to the Treasury and Member of the Monetary Board. As an economist, he is presumably a member of a constituent OPA entity – Sri Lanka Economic Association. He continues to be a member not withstanding this writer urging its President - Emeritus Prof. Indraratne to initiate the process to forthwith terminate Dr. Jayasundera's membership with appropriate media publicity. Is it not reasonable to assume that none of the appalling corruption in the country’s privatizations would have been possible without the participation of professionals?

Enabling environment
While applauding the Supreme Court judgement which is indeed a watershed in judicial activism in regard to combating corporate corruption, there is nothing really surprising on what has been revealed since it has long been suspected with good reason that there is an enabling environment for the terrible corruption in this country. Particularly many of the larger ‘players’ in our corporate world have a mutually beneficial relationship under successive governments inimical to the national interest in collusion with key sections of the political and bureaucratic establishments.

In return, for the most part there is silence from our captains of industry and commerce to the abuse of power of our politicians or in rare instances at best a feeble response. The enabling environment for corruption is also in the context of the board of directors of the larger companies, influential business Chambers, the Employers Federation of Ceylon and regulatory bodies such as the CSE and SEC being largely ‘controlled’ by an ‘oligarchic’ group of businessmen in collusion with a pliant group of professionals – mainly lawyers and accountants. These businessmen also have their influence on the Monetary Board. There is also the phenomenon of auditors on the boards of the larger companies.

Public-Private Partnership
In the wake of the damning LMSL judgement, is it not logical to also examine other privatisations commencing with those benefiting JKH? In this connection, an examination of the SAGT port divestiture in favour of JKH is imperative. Was there not controversy at the time of this divestiture? Is it not a fact that a significant component of the JKH profitability comes from the privatisation of two government monopolies – LMSL and SAGT? What does this say about the much vaunted JKH management efficiency?

Conclusion
The nature of an influential section of our corporate sector is best exemplified by the pathetic spectacle even in the aftermath of the LMSL judgement where reportedly 100 businessmen accommodated in a ‘takaran shed’ at the behest of some of the 100 plus ministers queued up to each donate Rs. 1 million contained in ‘parcels’ allegedly for ‘political purposes’! The businessmen included a former Chairman of the Ceylon Chamber of Commerce who is in control of possibly the most asset rich company in the country with an impressive portfolio of foreign assets as well! Since these have not been denied, do they not stand admitted?

Even NGOs that are purportedly espousing the cause of good governance and anti-corruption are largely muted or at best selective in their response. This is possibly due to serious fault lines in their own accountability for the millions they receive as donations purportedly in the service of the people of this country!

It is an assertive civil society that is the lubricant that oils the wheels of a genuine democracy, a vibrant economy and social justice. If this country is to develop to its potential and extricate itself from the growing image of a failed state, the leaders of civil society must show the way to the people at large not to tolerate the rubbish being dispensed by successive administrations in the name of governance. They together with the people must demand all round accountability and good governance not only from the government but from other stakeholders as well. Sadly, the tragedy for this country is that key sections of the leadership of civil society itself have compromised their integrity apart from not being united. It is left to principled sections of the media and like-minded sections of civil society to be persistently assertive in demanding all round good governance and stay the course however difficult.

Amrit Muttukumaru
Colombo