Ranul Seneviratne

[Ranul Seneviratne @Ranulddd]

@sujatagamage @samarajiva They are going to take that building down under the Beira Lake redevelopment plan. The Gangaramaya temple has agreed to it.
Thank god Finally! Such an eyesore.

I got this from a very credible source a person very close to the temple.

[Ranul Seneviratne @Ranulddd]

It will it is not simply the fall in input cost for businesses that will result in export competitiveness but rather now the fact that domestic manufacturers have to compete with global firms at competitive prices. That is what makes the difference.

For example Elephant house ice cream will now have to compete with Baskin- Robbins at almost the same price per liter which at present is equivalent to the price of a Scoop of Baskin Robbins.

It is competition that will drive innovation and productivity not the fall in input costs.
They will have to now compete with the rest of the world 🌎 at a fair global market price.

[Ranul Seneviratne @Ranulddd]

@MarianneDavid24 @HarshadeSilvaMP @TheMorningLK Also these reforms will also come in the year -
New digital economy act
New cyber security act
New Export development act
New Industrial Development Act
Anti-Dumping Policy

[Ranul Seneviratne @Ranulddd]

You know I have realized it’s absolutely pointless interviewing this man He is completely biased with his views. He constantly talks of so called economic growth related reforms not happening but conveniently forgets that most of it will be done before the years end and that some have been already done.

This year up-to now the government has passed 17 new Laws or Amendments. Key among them are -

1) Prevention of Money Laundering (Amendment bil
2) Financial transactions Reporting Bill
3) 11-Pillar SME Framework and National SME Policy
4) National Mineral Policy
5) Rescue,Rehabilitation and Insolvency Act

ALL OF THESE ARE ALSO GROWTH LED REFORMS!

For the remainder of the year the following key growth led reforms will get enacted -

1) New Public - Private Partnership law
2) New SOE Law
3) New Labour law
4) New land law and e-land registry
5) New Customs Ordnance act
6) Trade National Single Window (18 regulatory agencies connected to one platform)

8) Sri Lanka Digital ID role out

9) E-Procurement System: A mandatory e-procurement portal for all government tenders was launched to ensure transparency and allow SMEs to bid for state contracts more easily.

10) Para-tariff Phase-out: The aggressive removal of CESS and the Port and Airport Development Levy (PAL) began this month, aimed at lowering input costs for manufacturers.
(This one however has been delayed do bad by the government till 2030)

So seriously what is he talking and crying about!!
But Interviewing Harsha is becoming absolutely pointless and pathetic a waste of time and effort!
@Chathurangaab @HarshadeSilvaMP

[Ranul Seneviratne @Ranulddd]

@theGayan @AJ81553904 @CBSL This is exactly why so called Flexible exchange rate regimes are problematic it’s neither a pure float nor os it a hard Fix giving ample room for speculative attacks. Also the continued build up of Reserves also interferes with monetary policy.

[Ranul Seneviratne @Ranulddd]

@RockCityOutlaw At port City all developers must fund their entire project through foreign funding so the inflow is all dollars 💵 all construction companies must also be paid in USD. So this argument isn’t valid.

[Ranul Seneviratne @Ranulddd]

@perfectos87 Have they already put the foundation? That’s pretty quick

[Ranul Seneviratne @Ranulddd]

@gayaradesilva @dhananath And of Course market pricing fuel is vital because if not the policy rate adjustment would need to be by that much more to equate the drain on the Current account.

[Ranul Seneviratne @Ranulddd]

@gayaradesilva @dhananath Also they should have slightly tightened the policy rates specially when they saw a drain was happening say in March or April. A lower policy rate also reduced the reserve building capacity the Central Bank has because now more of the incoming dollars are consumed or invested.

[The Spectator Index @spectatorindex]

Currency against US Dollar so far this year.

🇨🇳 China: +2.5%
🇲🇾 Malaysia: +2.3%
🇵🇰 Pakistan: +0.5%
🇸🇬 Singapore: +0.5%

🇻🇳 Vietnam: -0.2%
��🇵 Japan: -1.5%
🇹🇭 Thailand: -3.6%
🇵🇭 Philippines: -4.6%
🇰🇷 South Korea: -5.2%
🇮🇩 Indonesia: -6%
🇮🇳 India: -6.7%

[Ranul Seneviratne @Ranulddd]

@KusumW Exchange rate depreciation has nothing to do with Exports. A great example is Hong Kong first quarter trade deficit is $168 billion yet HKD is at 7.83 to the dollar it has been so since 1983.

[Ranul Seneviratne @Ranulddd]

@KusumW Exchange rate depreciation is a result of both unsound money coming from a deeply flawed Central Bank operating framework and bad fiscal policies now only coming from not market pricing fuel. The overall budget for the first 3 months is in a Surplus in the tune of 170 billion Rs

[Ranul Seneviratne @Ranulddd]

@RuwanthaHewage @gayaradesilva 🤣🤣 no I am not but if you watch some of those COPF meetings on YouTube you will understand what I am saying! Also learn a bit of monetary economics you will understand.

[Ranul Seneviratne @Ranulddd]

@gayaradesilva Any politician who raises his voice against unsound money far outweighs corruption because inflation and currency depreciation can only be created by a bad bank and is never a result or cause of a corrupt politician. Since they are so rare one should vote for him regardless.

[Ranul Seneviratne @Ranulddd]

@gayaradesilva While I am no way in support of the corruption Ravi had done, Ravi Karunanayake probably maybe the best politician Sri Lanka has ever produced along side Harsha Desilva - Ravi is one if the few politicians who has taken the fight against The Central Bank and unsound money!

[Ranul Seneviratne @Ranulddd]

@sonaljay8 @ShavinWijetunge Yes true but more than that they should raise interest rates (which they will likely do) and terminate existing Dollar swaps and drain excess liquidity out of the system

[Ranul Seneviratne @Ranulddd]

@rangaba But very likely they will increase interest rates in the next Monetary Policy Meeting

[Ranul Seneviratne @Ranulddd]

@chef_john1 Yes true this is one of the major drawbacks of IMF’s Revenue based Fiscal consolidation programs.
Now tge Gov. sits on a Rs. 170 billion budget surplus for this quarter they then use it on unnecessary useless things. Like laying tiles on pavements over Ditwha damages