Insatiable greed makes businesses collapse - Kulatunga Rajapaksa

by Surekha GALAGODA

After the collapse of major financial institutions in the USA and India' companies around the world have begun to practise ethics based on Buddhism, said Vice President All Ceylon Buddhist Congress (ACBC) Suren Abeygoonasekera addressing the business forum themed 'A Buddhist Approach to Modern Business'.

He said that had the companies practised an iota of Buddhism they would not have collapsed.

He said that a committee will be formulated to brainstorm and discuss the establishment of a network of Buddhist businessmen so that the teachings of the Buddha can be spread for all businessmen to learn and practise. He said the idea of having a business forum parallel with the 25th general congress and the 60th anniversary of the World Fellowship of Buddhists (WFB) and the 16th general conference of the World Fellowship of Buddhist Youth (WFBY) was the idea of the President of the ACBC Jagath Sumathipala.

External Affairs Minister Prof G.L. Peiris said that this forum is historic and said that at all times businessmen should reflect on the Buddha's teachings which is based on priority, this has been put to practise by President Mahinda Rajapaksa who first dealt with the conflict and now he together with the Cabinet is concentrating on developing and ushering prosperity to the country.

Peace is priority as no business can flourish without peace and stability. He said that many countries who have improved their growth concentrate only on urban areas but in our country President Rajapaksa wants to ensure that there is growth in all sectors and that the benefits are spread among all sectors and people in society. An example is the declining of the poverty rate from 25 percent to 8 percent. Prof Peiris said that the Buddha's teachings are never hostile but built on compassion. Insatiable greed made businesses collapse.

Group Managing Director, DSI Samson Group, Kulathunga Rajapaksa said that we Buddhists are prohibited from engaging in unwanted or unethical businesses but the teachings do not prohibit people from doing legal business.

Unlike in the past today people have come to realise the truth of the teachings of the Buddha due to the collapse of businesses, global warming, as well as natural disasters.

He said that with global warming agriculture will shift from the West to the Asian region as the heavy use of pesticides and weedicides has damaged the environment globally. He said that the Asian region has a high concentration of mineral deposits where opportunities are aplenty for value addition. Today even gadavillas are imported which is a sad situation. As Sri Lanka is in a development phase it is opportune that the country shifts to the services sector and practices the teachings of the Buddha which will pave the way for higher growth.

He said that Lord Buddha was the first to preach the merits of the giving of alms or dana and according to Buddhist philosophy one hand should not know what the other is giving. Today companies practise CSR. It was Lord Buddha who preached it first.

Rajapaksa said that it is essential to have some bilateral trade agreements between Buddhist countries so that these agreements will help the developing countries to accelerate development.