Only a day ago, renowned economist Dinesh Weerakkody was appointed as the Chairman of the Board of Investment (BOI) of Sri Lanka by President Ranil Wickremesinghe, on the sidelines of the SLPP-UNP-led Administration’s grapple against the worst economic crisis befallen the Island Nation since Independence.
Simple and yet a most salient appointment instrumental in addressing the recession, Weerakkody’s role as the BOI Chief would be very critical amidst the bureaucracy that actually pulls the strings behind the curtain preventing new investment opportunities from reaching the country, whereas business magnet Dhammika Perera not very long ago had stood up in his 10-day serving tenure as the Minister of Investment Promotion only to step down due to the then rising political turmoil.
Perera, whose contribution to the Investment Field of Sri Lanka during his very short term in Office was notably appraisable, had managed to resuscitate a system granting approval to projects initiated through the BOI within 24 hours that had been long lost within the walls of the institution. Perera was able to break the wheel of bureaucracy that had long been intimidating the Business Community and thereby malignant to receiving local investment opportunities to the country.
The system of approving payments within 24 hours was actually introduced to the Employees’ Trust Fund (ETF) in 2002 by its then Chairman Weerakkody, who, by doing so, had delivered a huge relief to the Working Community of Sri Lanka.
From concepts to fairy tales, endless scholars, intellectuals, business figures and lecturers lay down their versions of how the Sri Lankan public bodies should be developed, when the existence of those capable of implementing practical solutions, sadly, is a minority.
Perera knew what he was doing and served what he had signed up for by proving that he is one of the few people in Sri Lanka who actually can provide solutions. Neither did he join politics to gain any financial benefit, nor did he intend to, and against all odds on a scale of professional to personal criticism, Perera had efficiently managed to serve his duty.
Weerakkody, an individual coming along with a vast experience in economics and workspace, too is capable of implementing practical solutions and is expecting zero benefits in return, according to corporate sources. Weerakkody is a former Chairman of Commercial Bank and Hatton National Bank (HNB), two of the country’s leading commercial banks, and is a member of the Board of Directors of many leading companies in Sri Lanka. He has no corruption record, nor does he intend to commit one. Weerakkody is an experienced individual with international recognition and a portfolio referencing his contribution to multiple consortiums committed to economic revival at hand.
Corporate sources told LNW that Weerakkody would be a very valuable asset to President Wickremesinghe amidst this hardship and was a wise choice to navigate the BOI at this moment.
We sincerely wish Mr. Weerakkody to fulfill his responsibility whilst extending our thanks for stepping forward to accept a huge responsibility for the sake of the people of Sri Lanka. Pick up where Perera left, may you take the baton from him and continue the relay.
MIAP
