Colombo, Nov. 3 -- Sudden springing of the Millennium Challenge Corporation Compact should not come as a surprise. It first made an appearance in the immediate aftermath of the Easter Sunday Massacres. Finance Minister Mangala Samaraweera introduced MCCC as the good that has come out of the 21/4 tragedy. He was obviously bowled over by the promised USD 480 million that the MCCC was to bring in to the country. At the time of this statement, Samaraweera had not realized that the loss to the country from 21/4 was far more significant than the benefits MCCC is offering.

The MCCC is proposing land reforms and better road network that will ease the traffic congestion within Colombo and better inter-Provincial connectivity. However, in the 21/4...