ECONOMIC VIABILITY OF TREE CROPS

ECONOMIC VIABILITY OF TREE CROPS The opportunity to utilize land for tree crops presents an economic benefit only when certain conditions are met: The landowner decides that growing a tree crop is preferable to:- Keeping the land barren- Partially utilizing the land- Using the land for annual crops in terms of returns on effort. Consequently, the social psychology necessary for this decision involves the farmer’s need to earn for himself before considering producing for exchange. Tree crops do not yield immediate returns, unlike conventional crops such as cereals, millets, groundnuts, soybeans and equivalent, and fibres like cotton and jute, which have well-established cultural practices and definite cycles governed by agro-climatic conditions, including weather and water. Growing tree crops requires a sacrifice. For example, if a person switches from paddy to arecanuts, the minimum time required for a return is four years. Therefore, a person with land resources who can command and pay for labour to cultivate it is essential. Modern agricultural practices and knowledge are now well-documented in textbooks and specific to the area, meaning there is valuable local experience. A farmer benefits from observing phenomena and changes and uses modern, continuous knowledge to apply to their practices. Hybrid development has advanced as opposed to natural cultivation. The competition is not between nature and science but rather how successfully science is applied to achieve desired input-output ratios. In monetary terms, the input-output ratio should ideally be at least ₹1 to ₹1.5. This ratio depends on the amount invested at a particular time and the scale of operations. The demand for produce and its forecast is now a methodology, but the farmer relies on traditional methods of selling due to proximity. Any trader in the world would pick up material from any part of the world if there is a profit on time and place. The traders role comes in place because each individual farmer cannot traverse the distance over long terms of hundreds of kilometres within a nation to thousands of kilometres across the seas. Consumers cannot store all the required material, and even if they could, their individual choices – whether they prefer product X or Y – play a significant role. Three centuries of political economy, economics, sociology, and political activity have evolved to protect contracts and prevent excessive exploitation of one person to another who has a disadvantage, is the rule of political economy today. .

Dr. G. G. Lakshman Prabhu

Dr. G. G. Lakshman Prabhu’s enduring legacy in Mangalore is marked by his exceptional, all-encompassing personality. Originating from Gurpur, a small village twelve kilometres on the eastern route to Karkala, Kudremukh, and Sringeri, his great-great-grandfather, an early migrant, recognized opportunities in the burgeoning port town of Mangalore. G. Vasudeva Prabhu, a person of simplicity, developed a knowledge of Sanskrit and engaged in a small-scale business centered around wholesaling cattle food and related items. G. Mohandas Prabhu, the dynamic elder brother of Dr. G.G. Lakshman Prabhu, significantly contributed to the personality development of Mangalore’s youth through active participation in the JC movement. In the field of urology, Dr. G. G. Lakshman Prabhu not only pioneered unique observation methods and swift diagnosis but also exhibited a compassionate focus on patients, alleviating their tensions with just a glance. Beyond his medical proficiency, he possessed a profound understanding of the human body, emphasizing the importance of doctors connecting with the broader spectrum of humanity. Numerous acquaintances, including patients and their relatives, shared narratives of Dr. G. G. Lakshman Prabhu’s transformative impact, recounting instances of individuals being cured and restored to complete personalities, human beings again. I had the opportunity to meet Dr. Lakshman when he became the President of the Rotary Club, and he invited me to address a weekly meeting. Dr. Lakshman called me on the phone and requested that I discuss a topic of my choice. He received me with his office bearers, and as Rotary is a perfectly organized event, I spoke about inflation. After that, we had a few brief actions. A profound insight into Dr. Lakshman’s persona unfolded during a town hall meeting, a citizens’ program thoughtfully organized by Col. Bakshi, who expounded about India from a perspective of a few thousand years and what it is today and what it could be. As the orchestrator, Dr. Lakshman ensured unwavering audience engagement, revealing his extensive knowledge and deep affection for the nation, city, humanity, and citizenship. Reflecting on his ability to inspire beyond conventional roles, Dr. Lakshman’s impact on everyone he encountered was profound and meaningful. Survived by his wife, son, and daughter, his charming presence, witnessed daily by his family, will be a lasting memory. To the citizens of Mangalore, whether familiar or not with Dr. Lakshman, he would be remembered as a good citizen, transcending emulation and adoration. The noble profession of a doctor, sacrificing for the health of a nation, resonates with the teachings in “Unto This Last,” the noble treatise by John Ruskin, the philosopher and economist mentioned – the role of a teacher, the role of a doctor, the role of a trader, the role of a pastor – all have a uniqueness. After 150 to 200 years of this kind of evolution, we have learned from our ancient scriptures, which we still do today. Dr. G. G. Lakshman Prabhu’s legacy will endure, living in our hearts. We would say shock and grief, and then we would overcome it, and we would say we would remember. But Bhagwan Krishna’s wisdom in the Gita reminds us that the soul is immortal. In his memory, let us strive to uphold his standards, acknowledging that, while perfection is divine, inherent goodness is a precious gift. My heartfelt prayers extend to his family and the community, urging strength to bear the loss. Remembering Dr. G. G. Lakshman Prabhu goes beyond nostalgia; it is a call to carry forth his ideals and principles. His life, an inspiration to all generations, prompts us to lead normal, better, and truly human lives as responsible citizens.

Botany in our Premises

The city of Mangalore boasts a semi-tropical climate, situated at an ideal latitude and sea level.With the Western Ghats in close proximity, gently ascending, Mangalore is a haven for nature and ecology, hosting a diverse range of flora and fauna.Some of this natural beauty can be found right in my compound, where we frequently encounter various insects and exquisite butterflies fluttering around the plants.I have captured a few moments with my mobile phone camera. The butterfly in the photos is the Psyche Butterfly – Leptosia nina, very difficult to photograph like this with open wing.Please take a moment to appreciate them!

Cashew Feni based Cough Syrup

In the recent past, there was a news item that cough syrups which were given to children in African states resulted in problems. This however is a global story. The children of the World deserve something better, which is natural, can be harmless at any point of time, and also easily available. Africa now is the biggest producer of cashew nuts and therefore, ten times that much cashew apple gets generated. India has to give the lead in Science and Technology. And today is celebrated as the Science day of India. Can we make a cough syrup out of cashew apple liquor, which can be easily made as in Goa by the farmers themselves. In Goa it is called as cashew feni and it has a geographical indication. But it can be called as cashew apple liquor elsewhere. It becomes viable only when farmers are able to do it in their own villages, in accrued distillery. It can be then collected and made available for potable purposes as poor man’s liquor. The question is, whether molasses based liquor is more harmful and cashew apple liquor is not, because it is natural. For the past 30 centuries or more, human beings have developed liquor based on natural fermentation that it is both for the spirits of enjoyment or in the modern world, is for spirits to drown their fears or anguish or sadness. So, let us come to the question that if it is joyful, that farmers make their own liquor. And if it is joyful that working men celebrate a hard day’s work with a little glass of cashew apple liquor. Then every cashew apple is the World will get converted into something potable. The idea of a cough syrup is not coming out of the blue. But the fact that in Goa cashew feni, which is made by the villagers themselves was administered to young children which resulted in the famous Konkani phrase “Kazoocho Soro Jeevak Boro”. Now that the Government of India has embarked on doubling the farmers income and natural farming, it should be given an impetus by all State Governments, where they can allow this liquor to be produced in the villages in an atmosphere of freedom than fear of the State Excise Laws, and make the laws as simple as possible. Watching the conversion and the monitoring of this program can be easily done by the excise officials based on trust and a little self regulation by the farmers themselves. It requires an energy as well as dedication by the farmers or assistance to farmers within a close area of not more than 2 or 3 kilometers of production. Since making it into a distillery for better options makes it unviable for farmers to carry over longer distances, a farmer orientation means the consumers eventually will enjoy this better and better. The cough syrup idea of course has limitations and also regulations to follow. Therefore, it is an idea that Pharma companies could encourage for their own production and make it possible that they exercise caution. It is not that cough syrup need to be promoted, as common cold, which is common all over the World, but it is something that is having a value chain compared to the alcohol that is now used in cough syrup. .

CANONS OF TAXATION

CANONS OF TAXATION Indian national and State direct and indirect taxes in the current context and situation needs serious introspection by the Parliament, Judiciary and Executive. The nation is at a continuous state of dispute with the taxpayer. We need to look at the canons of taxation and also India’s written history and sources from text on how a good and able tax system should evolve and work. Direct and indirect taxation has been taken beyond truth, value, trust and faith. Taxation is a means to the end of the well administered and managed democratic functions of State. It needs to be free from distortions , anomalies and aberrations. Its administration must command respect and admiration. The canons of taxation have turned into twin turret cannons. These have been incorporated negatively against citizenship by – Administrative Law  Injustice in Law Law is ever changing and evolving. It is what one is made to believe in.In this period of 75th year of Independence, a Tax Payer is conveyed a Tax Code or Text of the law up to 999 pages, a little short of a 1000. The Canons of Tax are briefly: (i) Canon of Equality or EquityIt is proposed that every Adult in this nation should be taxed. There should not be any exceptions or exemptions. There need not be any exemptions to the individual who needs to be free to decide what is best to be done with post-tax savings. (ii) Canon of CertaintyDeath and taxes are the only certainty. Everything else is transient. There need not be any uncertainties, ambiguities that assessing officers can twist and turn that goes into litigation. (iii) Canon of Economy Cost of collecting taxes is the lowest in the world. There are enough and more people employed by the Government, and the Governments have the means to collect taxes. The existing people and mechanisms are sufficient to collect intended taxes. The evolution of digital rupee and means can make collection easier from all earners up to the bottom of the pyramid. (iv) Canon of ConvenienceTaxes can be collected efficiently. As Chanakya said, “taxes should be collected like the evaporation of water and distributed like rain.” Modern economists have added more in the list of canons of taxation. These are: (v) Canon of ProductivityEvery citizen need not slog to pay taxes like ‘Lagaan’ and the atmosphere in the nation should be that people pay up with the least effort or ease. Door to Door collection is a possibility – the Postman or a Newspaper distributor or garbage collector can also be a tax collector. (vi) Canon of ElasticityIt has already happened. It will expand when equality and justice prevails. This needs to evolve to zero litigation and all disputes are settled by amicably by negotiation. (vii) Canon of SimplicitySorely missing. All Acts and Rules need to be simple. The implementation needs a change in orientation. This would happen when every person is taxed. (viii) Canon of Diversity Do not exclude transgenders. Make prostitution legal. Every conceivable income can be taxed. A mechanism of secret tax payments can also legitimize illegal or illicit incomes by Voluntary Inclusions – Other Incomes. What can be done is to remove all current exclusions and bring them under the tax net. Salt and rice can bear a taxation of 5 percent. Even Gandhiji would have agreed on a convincing argument that every person or thing be taxed. Poll Tax: Every Voter needs to pay a tax. This can begin with Rs 300 per voter, per year, and progressively increased to Rs 1000 per voter, per year. Every voter needs to be a taxpayer and every taxpayer needs to vote.

GURPUR SADANANDA PRABHU – Written by Mr Monteiro – Circa 2010

GURPUR SADANANDA PRABHU Clad in a spotless white Dhoti-Kurta, this septuagenarian can be easily mistaken for an old man next door, who however surprises you with his amiable, friendly attitude, cheerfulness and great sense of humour. Gurpur Sadananda Prabhu has always been a man with simple tastes but great ideas and vision.  But what sets him apart from the rest is that he relentlessly worked in implementing those ideas with determination matched with hard work and succeeded against all odds.  His story of success is the stuff, which the legends are made of and would be an inspiration for generations to come. Even at 77, when most others seem resigned to the idea of retiring to take rest, G. Sadananda Prabhu is an exception.  Age has not diminished his flavor for hard work, which has been a part of his life ever since he stepped into adolescence.  Even today he carries on his daily chores as usual with the euphoria and enthusiasm that a 30-year-old entrepreneur might evince in his first venture.  What strikes you the most in the man is his humility and calmness.  The satisfaction of being contented, is writ large on the face.  And certainly, for the youth who came from Gurpur, a village 15 kms. away from Mangalore, with nothing but star in his eyes and bagful of dreams, building Achal Industries from scratch is like a dream come true. Achal Industries is engaged in the manufacture and export of Cashew Kernels and Cashew Nut Shell Liquid.  Today, with a total annual turnover of Rs. 9 crores, it stands as a symbol of Sadananda Prabhu’s grit and single-mindedness of purpose.  But he candidly says, “I am a satisfied man, not for the material gains I acquired through my business dealings, but for having led a simple life and for giving a livelihood to nearly 500 families in Dakshina Kannada”.  His son, G. Giridhar Prabhu who has been a witness to his days of struggle succinctly puts it as “the most important quality of my father is the honesty and probity in both his public and private life.  He made it possible that one can be honest and still achieve success in business”. Sitting in the fourth floor of his spacious office “Suprabhath”, Bejai – Kapikad, Mangalore, is sure to make one feel different.  It is a big hall without any compartments like today’s high-tech offices.  But the ample natural light with plenty of air is enough to rejuvenate both the body and mind and the very atmosphere is soothing and inspiring.  This four storeyed building ­is well maintained with enough space for free movement.  For, behind the tall building located in Bejai – Kapikad, which may not be very impressive to look at, lays the meticulous planning and supervision of G Sadananda Prabhu, who, during the construction paid attention even to the minutest details in the form of personal supervision at every stage.  All the occupants of this building echo the same feeling and are very happy with the maintenance, cleanliness and the overall comforts made available. No doubt, the building symbolizes what the man stands for – discipline, devotion and the “living in comfort” logic. His life and achievements read like a typical short story but this one is real.  Born in 1925, Sadananda Prabhu lost his father when he was 12 years old.  However, his two elder brothers who were 28 and 20 years older than him respectively, never let him feel the absence of his father.  His brothers were doing grocery business in Gurpur and under their guidance and support he had his elementary education in Hindu Higher Elementary School, Gurpur, an aided school. Higher education in those days was very expensive because the school fees were very high compared to the value of rupee.  Naturally only a privileged few could afford High School education where the monthly fee was Rs. 5/- (1939), equivalent to today’s rupee value at about Rs. 500/-.  For G Sadananda Prabhu, opportunity came in the form of scholarship from Sri Venkataramana Temple, Mulky, where there was a scheme to provide school fees for deserving students and he was fortunate to be one of the beneficiaries. However, his educational progress came to a standstill on completion of SSLC in Board High School, Mulki and he had to help his brothers in the business.  Opportunity beckoned also in the form of an employment as a teacher in the same school where he had his elementary education. As an untrained teacher he joined the School on a monthly salary of Rs.12/-. Though his colleagues persuaded him to undergo teachers training, he did not succumb because he wanted to take a risky and challenging career and stood firm on what he thought was right.  Needless to say, though he liked teaching, he was not happy with his career and luck was certainly on his side.  An order of the Education Department that only trained teachers should be appointed in schools came as a blessing in disguise.  He was thus forced to bid adieu to his teaching career.  It was back to the pavilion, situation to assist his brothers in their retailing trade.  Since the Second World War was going on, food rationing was in force and his assistance proved beneficial. Nevertheless, the experience he gained in the retailing business proved to be a stepping stone towards the higher goal he had set for himself.  He came in contact with traders and dealers in Mangalore, which broadened his outlook and provided him ample scope to tread carefully in the dream of web he had built for himself.  He gained valuable insight and experience in trade and commerce during this period of what he calls as “apprenticeship”.  He learnt the trade and not the tricks of the Trade.  “I wanted a career that would provide me independence to put my thoughts into action”.  Once he had set his eyes firmly on the goal, he took a bold decision to tell his brothers that he wanted to put his thoughts into concrete action and all that he wanted was their blessings and support in the endeavor. With their blessings, co-operation and financial loan, a 23-year-old young energetic Sadananda Prabhu, with his high ambitions, hopes and innumerable ideas came to Mangalore and entered into partnership with a reputed concern in the wholesale trade in Bunder area.  This was in 1948 (Sept.).  In the meantime, he also took another major decision of life in 1949 –  that is of entering into marital bliss. Wittingly he says “my wife is serial number 9”.  That is, she is the 9th among the 10 girls and one brother belonging to a single family.  Marriage provided him stability and his wife proved to be perfect mate who provided him emotional stability and support.  Her education was VIII Std.  The family has three children.  Two daughters married and a son married too. The Partnership Company dealt with all essential commodities and the business thrived for 30 long years.  During this period, the Partnership Company had set up an industrial unit in Bajpe to manufacture Groundnut Oil.  It was a gamble to go for the unconventional type of business.  “Mangalore was very orthodox and nobody actually used groundnut oil for cooking purposes, he recalls”.  But Sadananda Prabhu and his partners had firmly believed that they could succeed if they gave the best commodity to the people at a reasonable rate.  True to their belief and determination, the firm came out unscathed, which truly exhibits the adventurous spirit of Sadananda Prabhu.  In 1971, the Partnership Company took over a sick cashew manufacturing unit on lease and managed it successfully.  However, when the unit owner wanted this factory back after 10 years, it was returned without any hassles in 1980. Just like every good thing in life has to come to an end, the partnership was terminated on completion of 30 years in business together.  During the 30-year tenure Sadananda Prabhu was active member of the Kanara Chamber of Commerce and Industry and occupied the highest post as President in 1979-80 after serving as Hon. Secretary for three years in succession.  Armed with the experience and insight he acquired in the course of business, he graduated from business to industry, a great leap forward to be independent and be his own master. At 56, Sadananda Prabhu ripe with the experience he acquired in running a cashew industry, in association with his son, co-partner, a First-Class Commerce Graduate G. Giridhar Prabhu, set up a cashew manufacturing unit in the Baikampady Industrial Area as an H.U.F. unit viz Achal Industries.  Starting with 60 workers in 1981, the Unit has grown leaps and bounds and employs about 500 people, out of which 450 are women.  The group also has a unit in Kolhapur District of Maharashtra, which employs about 200 people in a very backward area.  The choice of participation by co-partner, son Giridhar was his own, which was taken in his college days.  Fondly, recalling his initiation into business, son Giridhar says, “even before I learnt the ropes of business, he showed full confidence in me and gave full freedom.  His integrity and reputation has made my path easy”. But success has not come on a platter to him.  He slogged through initially and his experience came in handy to propel him to the pinnacle of success.  By strict monitoring of quality control, the company earned name and fame and carved an unique niche in the field. “He had great ability to grasp and assimilate everything.  He stressed good accounting practice and complied with all legal formalities.  Having come up in a hard way, he had great concern for the welfare of the employees and their goodwill and support has been instrumental in our success”, opines son, Giridhar Prabhu.  On achieving success, Sadananda Prabhu has been magnanimous to share a part of the profits with his employees by providing all the legal benefits due to them.  Today, Achal Industries has the distinction of being one of the top 10 units, which compiles with law strictly. G. Sadananda Prabhu had unique knack for tapping potential markets and he went by his instincts.  He, therefore concentrated in improving the quality of the product to compete in the overseas market.  Today, Achal Industries has emerged as number one exporter of cashew products in South India in providing quality material abroad. But the story of success is not as rosy as it appears to be.  For the last 12 years, they fought numerous battles with the Government and have succeeded in getting justice not for themselves but for the beleaguered cashew industry in general.  The cashew industry was at loggerheads with Agricultural Produce Market Committee (APMC), which due to its irrational behaviour and unnecessary interference brought the whole cashew industry on the brink of disaster.  While the cashew industry considered themselves as “Producers” and “Manufacturers”, APMC contended that they were Traders.  It made a lot of difference because as traders they had to pay; one percent of their total turnover as market fee, which was substantial.  Even the Supreme Court unfortunately could not come to their rescue because of interpretation of the law, which did not favour the cashew industry. The Industry never gave up its fight on which it felt it was an unjust entry by the APMC in the territory not meant for it.  Finally, the present Hon. Chief Minister of Karnataka, Sri. S. M Krishna, who was convinced of the rationality behind the arguments of the cashew industry, provided the much-needed relief to them.  G. Sadananda Prabhu was in the forefront in this fight against the Government and no doubt, today he is hailed as the “person who was largely responsible to bring justice to the cashew industry”.  He made innumerable trips to Bangalore to follow up the legal battle and age did not hinder his determination. At 77, Sadananda Prabhu believes in the psychology of “living for others”.  His approach to life has emerged from a liberal school of thought.  “This has given me rich dividends in life not in the material sense but in terms of respect and reverence which money cannot buy”, he contends. No, he is never tired of working.  “I like to keep myself busy and earn my livelihood as long as I can” says the man who does not want to bask in the past glory.  Though the industry (Achal Industries) is presently owned by his son Giridhar Prabhu, who happens to be the President of Kanara Chamber of Commerce and Industry this year, Sadananda Prabhu is actively involved in the day-to-day functioning of the group of the Industries.  In fact, he along with his wife spends 2-3 months in Kolhapur for business purpose. “Life is too short to sit back and ponder over past events”, he asserts.  Though he is not into any form of fitness regime, he keeps himself hale and hearty by properly having his meals and spending considerable time for his daily ablutions.  “Throwing the wastes out of the body is best way of keeping oneself healthy”, he reasons out. But it is wrong to believe that it is all work and no leisure or entertainment.  He likes to spend his time with his family.  His grandson (10 years) provides him the best company.  “We get along very well”, he says with a mischievous grin.  He also loves to read the literature of – a) R K Narayan b) Bhavan’s Books        c) the Texts of Chinmaya Mission etc. And watches Kannada soaps with his wife, who is fond of them. He is a great lover of Hindustani Classical Music, Jesudas and Pandit Jasraj being his favourites. He however, has one wish and he is not sure whether it will be fulfilled or not.  “I am yet to be convinced that there is another birth for me.  If at all I get an opportunity to have a rebirth, I want to be born in India”, he convinces.  What enamours him most about the country is its ethnicity, diversity and its spirit of resilience.  In the same breath, he adds that as long as I cannot relate my past life to present life in the event of a rebirth, there is nothing to rejoice about the concept of rebirth.  And the man is so convinced on all that he believes; it is almost infectious. And what gives the man the utmost satisfaction is the familiar smile, recognition and respect he gets from his workforce, majority of whom are females.  He is also happy to involve himself in any work that may benefit others.  He firmly believes in the dictum that one has to give back to the society more than what he takes from it.  He has therefore donated substantially to Ammembala Subraya Pai Memorial Fund, to assist the students to secure loans for further studies.  For, he certainly remembers the scholarship he availed which helped him to build up his career in a way he had dreamt of.  This speaks volumes about the man whose life reads like a story only to be true. He says: “Arrogance Leads to Self-Destruction – Ignorance is not a Virtue – Life is joy –  Enjoy every bit of it – Of course, follow rules of the game.”                                                      

The 9 C’s of International Trade 

1. Create – Create the demand for a customer. 2. Customs – Deal across customs barriers with thorough knowledge of the customs in the importing country. 3. Communicate – Expression of interest and a commercially valid offer – Be in touch. 4. Connect – Customers must like you and establish a connection.  5. Contract – A valid Contract as per the Incoterms of International Chamber of Commerce. 6. Converge – Exports are a series of steps and convergence at each step is needed. 7. Currency – Know the currency of the importing nation though the currency of the contract can be the US Dollar. 8. Co-operate – Every step of the way Co-operation and fraternity is important. Reputation and integrity are the hallmarks of a good exporter. 9. Complete – Complete the winning transaction and execute.

The Sri Lankan Crisis

The Sri Lankan Crisis is the product of about 12 to 14 years of investments and expenditure based on external finance. The debt repayment program of any small nation will come from the inability to pay debt in foreign exchange. The earnings drop from tourism has the major impact and this has to be dealt with optimism, humanism, and a fair exchange of ideas to address the situation on a day-to-day basis. India needs to extend all possible cooperation – economic, political, and social, as it would greatly benefit from a healthy prosperous neighbor for all time to come. The Indian position needs to be consolidated from neighborliness as well as a higher degree of self-interest. Previous conflicts bring into mind certain barriers, hesitation, and an inability to act under difficult circumstances due to narrow domestic political interests. A broad-minded approach requires a complete and holistic assessment with attention to details. It requires to begin in a series of small economic and social steps, and political gains in the national or international arena will come when the benefits are assimilated directly by the Indian sectors in both social and economic segments. Political gains are always in the medium and long term when sensible steps are taken. Reason we should prevail over emotions and the action should be bound both by expediency or quickness in dealing with the specific requirements of specific segments. However, broadly it has to come from economic sector, that India and Indian government will have to provide the resources on a regular as well as an exceptional basis. Here, the long term also needs to come into play. Economically, the first big requirement is to be done by the Ministry of Finance, NITI Aayog, and the Department of Economic Affairs, as to how India can benefit from an Indian rupee – Sri Lankan rupee convertibility arrangements as well as a swap. It is not impossible for Sri Lanka to renegotiate the international currency arrangements it has. It has initiated the same. Sri Lanka can also invoke assistance from South Asian GCC nations in the current account services segments. This will enable it to negotiate medium term notes for longer periods by Escrow Mechanisms for inward remittances and services incomes. Sri Lanka will be able to launch corrective actions for the medium-term once the near-term is resolved.