Two High profile heads of public institutions have resigned creating confusion on the immediate future of the country’s export and investment promotion secors, several imminent financial analysts claimed.
They added that the island nation is now moving towards economic dictatorship or one man show at a time when economic challenges need to be jointly managed by the private and public sectors, they pointed out.
The resignation of two leading private sector giants, who tried to move Sri Lanka beyond the devastating impact of COVID-19 and towards people-centric development, was a great loss for the country, they added.
The Export Development Board (EDB) Chairman Prabhash Subasinghe has resigned from his post with immediate effect. This is the second high-profile resignation in the state sector reported this week.
He assumed duties in December 2019 and was charged with the task of strengthening the country's export sector.
Subasinghe has stated that he accepted the post of Chairman for a period of one year only. Therefore, his resignation corresponded with his intention to devote more time to his personal business, sources said.
He said that he was able to do a significant service to exporters during his one year tenure as Chairman and that he is pleased to be able to do such a service even in the midst of the COVID19 epidemic.
BOI head resigns!
Meanwhile, top corporate leader Susantha Ratnayake, who served as the Chairman of the Board of Investment (BOI), also announced his resignation several days ago.
It is learnt that Ratnayake has quit the post citing undue interference from a “higher authority”. However, he has told the media that the resignation was due to personal reasons and he took up the post only for a year.
The appointment of Susantha Ratnayake was one of the first appointments made by President Gotabaya Rajapaksa after assuming office.
Ratnayake has held a number of high-ranking positions in the corporate sector including the Chairmanship of Sri Lanka's premier blue chip company, John Keells Holdings.
With over 30 years of management experience, Ratnayake served as Chairman and CEO of John Keells Holdings PLC from January 2006 to December 2018. He has been a member of its Board of Directors since 1992/93.
In addition, a number of institutions and companies, including the Ceylon Chamber of Commerce and the Ceylon Tea Board, have been successful under his guidance in recent times.
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