The Sunday Leader

J.V.P. factor

Gen. Fonseka

Gen. Fonseka

Market sources were divided on the Marxist J.V.P. factor in the event General Sarath Fonseka wins the January 26 Presidential Poll.
“The market will zoom if Fonseka wins,” one market source told The Sunday Leader.
It will be the capitalist U.N.P. which will be calling the shots, the J.V.P. will be a minority in such a coalition, as such the market has discounted the J.V.P. factor in the event Fonseka wins the polls,” he said.
However if the incumbent wins, the market will make placid gains, but not to the extent of the gains it would make in the event Fonseka wins, the source opined.
But another source claimed that foreign investors may be more comfortable with a Mahinda Rajapaksa Government as he is perceived as the known devil, rather than with a Fonseka Government, because of the unholy U.N.P.-J.V.P. coalition that goes with it.
Friday saw the market make a Rs. 1.1 billion turnover, where, among the significant trades were 1.8 million shares of D.F.C.C. being bought by a local institution, with the sellers being two individuals.
Meanwhile the holiday season acted as a spoiler to the foreign exchange and money markets, with both remaining sluggish at Friday’s trading.
With state intervention been minimal, the U.S. dollar in two way quotes fetched Rs. 114/25/30, while the Treasury Bills and Bond seconday markets remained unchanged, the sources said.
Rs. 100 mn. project

Microsoft, beginning from next year, will invest Rs. 100 million to enable I.T. connectivity to some 400 rural schools.
Microsoft Country Director Sriyan de Silva Wijeyeratne speaking at a function in Colombo on Monday said that the project would be implemented over a 15-18 month period.
He also said that a competition titled “Innovative Kids” will be launched next year.
This complements other software competitions that the company already have on the ground such as Imagine Cup that targets undergraduates and Innovative Students and Teachers’ competitions.

Satellite operator
It may be cheaper for Sri Lanka to own its own satellites, rather than hire the same, a vendor told The Sunday Leader.
The cost of procuring such a satellite may vary from between U.S.$ 100-150 million, Nicholas Plant, a Britisher, said.
Those costs could be defrayed if a multiple number of operators jointly make such an investment, he said.
Plant said that among the local satellite users were telecoms operators and T.V. channels.

Common towers
Telecommunications Regulatory Commission (T.R.C.) will soon call for build, own, transfer (b.o.t.) bids for the setting-up of a common tower station in Peliyagoda.
It will benefit telecoms and T.V. stations, Priyantha Kariyapperuma, Director General, T.R.C., told reporters on Wednesday.
The cost of the project is estimated at between U.S.$ 80-100 million, with the works expected to be completed by 18-20 months.
Kariyapperuma said that the idea of setting-up a common tower station for broadcasters was to remove some of the existing towers, which he said were spoiling the skyline.
He said that recently T.R.C. refused permission for Rupavahini to instal a parallel tower of 150 metres in height on its own premises.
A similar request made by a private T.V. station was also turned down.

Tourism up
Both tourism earnings and tourist arrivals in the first 11 months of the year increased by 0.4% year on year to U.S.$ 305 million and 391,028 respectively. (Source: Central Bank)

4 Comments for “J.V.P. factor”

  1. Tushan

    No wonder Investors will be more comfortable with the known devil Mahinda’s victory than UNP-JVP alliance. Friday’s all time record gains in CSE are an indication of money market managers are predicting a Mahinda’s victory at the Presidential election.

  2. raguna

    Market gain at present is not on the known devil is better theory but in anticipation for the elections. After the election an MR win will lose the market and a UNP-led coalition win will undoubtedly boost it.
    Whoever wins a Finance ministry under the President and a 100+ cabinet will ruin and destroy the country.

  3. Jehan

    Hey, Sunday Leader do not come up with your fabrications. This is end of great UNP since they are dancing to the tune of JVP, biggest traitors in SL history

  4. raguna

    JVP factor remains an essential feature in Sri Lankan politics, the so called 3rd force. Sama Samaja led by Dr.N.M.Perera did the same role in 1950′s & 60′s. They attacked both UNP & SLFP right through the year and during an election supported SLFP to come to power. Then within months will break away again and start leading working class to strike against the government. Few realized these strikes were, in fact, not against the govt. in power, but against the people and the country at large. This phenomenon was well understood by Lee Quan Yu of Singapore, who was kind enough to thank the N.M.P. & Co., for the role he played in Sri Lankan economy, allowing Singapore to boost its economy and get to the place in the region which otherwise would have gone to SL. But at the end there was one Marxist leader who thought otherwise, Philtp, who was the Guru of some left wingers at present, Joined Dudley’s UNP Govt. and served in the Cabinet for a considerable long term facing the hatred of former colleagues.
    The role so far for the JVP is exactly the same. The supportive & destructive role goes on and finally have taken the stand of Philip in 1965, to support (directly or indirectly) the UNP backed candidate SF. The role played by Philip in 1965 was clear and straightforward and in my opinion helped the country at the time. But the present JVP stand more complicated and is not firm grounds. Will they succeed in bringing SF to power, and if that happens will there be amicable power sharing for the sake of country, or will they revert back to destructive tactics, we will have to wait and see.

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