Business leaders, professionals and academics this week commended Trasnparency International of Sri Lanka (TISL)’s private sector ‘Integrity Coalition’ to promote transparency and good governance in the private sector and urged more stakeholders in to the coalition.
 At a seminar organized by TISL on integrity of the private sector, they proposed that organizations like the Bar Association of Sri Lanka (BASL) and the Organization of Professional Associations (OPA) be invited to the Coalition to add more vigour to the campaign against corruption in the private sector. The inclusion of new young Parliamentarians to the coalition was also proposed, according to a statement issued at the end of the meeting by TISL.
The seminar was convened to prepare an action plan on the framework and the objectives of the Coalition. Representatives from the Ceylon Chamber of Commerce, FCCISL, Institute of Chartered Accountants in Sri Lanka, Bar Association, International Monetary Fund and KPMG were among the participants.
President of the Bar Association, Shibly Aziz while endorsing the request made at the meeting, said that the coalition’s initiative can be conveyed to their membership. Sujeewa Mudalige, President of the Institute of Chartered Accountants Sri Lanka said that they would also like to contribute to promote the initiative taken by TISL and that steps have already been taken to include corporate governance in to the syllabus of the institution.
The statement said Dr. Koshi Mathai, IMF’s Resident Representative told the meeting that what is lacking in the business sector in Sri Lanka is the drive against corruption and the Coalition must play a vital role to fill this void. He also pointed out that because of corruption in the private sector the interest of foreign investors has declined.
TISL Executive Director, J C Weliamuna said the business sector only looks at bribes as corruption but they must realize that nepotism and petty corruption has invaded the sector and is affecting the profitability and the integrity of institutions. “That is why we need a collective effort to eradicate corruption in the cooperate sector, "he said.
Former Chairman of Ceylon Chamber of Commerce, Chandra Jayarathne said corruption in the corporate sector can be reduced by generating knowledge and training. “One good example is the Department of Immigration and Emigration. TISL gave them training and knowledge on how to get rid of corruption. Now the Department has become one of the most effective and corrupt- free government institutions in Sri Lanka. Even the members of the staff enjoy working in that environment,” he said.
The overall goal of the coalition is to be the “voice of business and professionals” in promoting collective action through Private Sector led Transparency, Good Governance, Integrity, adherence to Best Practice Business Principles and Anti Corruption Initiatives in Sri Lanka. |
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