At Insurance Corp Silver Jubilee:
President to knock-out CONSPIRACIES
destroyed all progressive governments
*Insurance Corp assets
exceed Rs 100 billion
President Mahinda Rajapaksa yesterday said Sri Lankans will never
allow his government to face the fate that doomed all progressive
governments in the past.
President Rajapaksa said vicious elements destroyed all progressive
governments which were in the forefront of bringing benefits to the
people by nationalising many ventures such as the oil companies,
Colombo Port and schools. Speaking at the Silver Jubilee celebration
of the Sri Lanka Insurance Corporation at the Sugathadasa Indoor
Stadium, the President said the people of the country will not allow
this government to suffer the same fate as all previous progressive
President Rajapaksa recalled how his government had to face
challenges in nationalising Sri Lanka Insurance in 2009 while SriLankan
Airlines and Sevanagala and Pellawatte sugar companies were sold for a
song to a handful of businessmen.
He said these institutions managed by the government are running
The President told employees of such institutions to show more
commitment to run these institutions more profitably.
"People will approve our decisions when these institutions are
managed profitably," he said.
The President said progressive leaders of the country established
state institutions such as People's Bank and National Savings Bank with
many difficulties for posterity.
They also faced innumerable challenges in nationalising many ventures
such as the Colombo Port and the oil company, he said.
President Rajapaksa said the protection of these institutions is more
difficult than selling them to the private sector.
The President said former leaders established them with noble
objectives though rouges can sell them easily.
Local and international conspirators were in operation to destroy
these progressive governments and leaders. He said former Prime Minister
Sirimavo Bandaranaike faced tremendous challenges when oil companies
were nationalised. They faced these challenges for the benefit of the
downtrodden, he said.
President Rajapaksa said the development of the country is not
planned by the government to remain in power.
Former Minister T B Illangaratne who pioneered the establishment of
the Insurance Corporation in 1962 had said it should be strengthened to
assist the people at grass roots level.
President Rajapaksa said Insurance Corporation should become an
institution of people at grass roots level. "It should not be an
institution of a handful of businessmen," he said.
The President said former Prime Minister Sirimavo Bandaranaike said
at the inauguration of the Insurance Corporation in 1962 that state
institutions should surpass the private sector in the field of