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Finance Secretary acknowledges concerns about national economy

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Committee on Public Finance meeting in progress (pic courtesy Parliament)
 

Tax evasion dominates Public Finance Committee meet

On behalf of the Samagi Jana Balavegaya (SJB) Dr. Harsha de Silva has inquired from Secretary to the Ministry of Finance. Dr.  S.R. Attygalle whether the country is facing an economic crisis as claimed by Minister of Energy Udaya Gammanpila at a meeting of the Committee on Public Finance in Parliament on Monday. 

The Finance Secretary has replied that in spite of certain economic problems that might arise given the current situation, every effort will be made to manage the economy. This was said at the meeting of the Committee on Public Finance, chaired by senior parliamentarian  Anura Priyadarshana Yapa.

The following is the text of a statement issued by the Communications Department of the Parliament, yesterday, regarding Monday’s CPF meeting.”The Committee on Public Finance granted approval on Monday to issue Rs. 1,000 billion Treasury Bills, under the Local Treasury Bills Ordinance which is scheduled to be presented to Parliament for approval by the Hon. Minister of Finance.

The Committee on Public Finance chaired by Anura Pryadarshana Yapa met yesterday (21) in Parliament. Government officials were connected online for the meeting in accordance with health regulations given the prevailing COVID-19 situation.

State Minister Susil Premajayantha, and Members of Parliament Dilan Perera, Prof. Ranjith Bandara, Mujibur Rahman, Dr. Harsha de Silva, Anupa Pasqual, Isuru Dodangoda, Nalin Fernando were present at the Committee meeting held.

Secretary to the Treasury, Ministry of Finance S.R. Attygalle expressing his views stated that an increase to Rs 3,000 billion from the current limit of Rs. 2000 billion is thus expected.

He  said that this does not imply that the money will be spent within the coming 06 months and that everything will be managed within the borrowing limit approved by the Parliament.

The Committee also approved two regulations to be tabled in Parliament under the, No. 1 of 1969 Imports and Exports (Control) Act presented to Parliament on 08.06.2021.

Secretary to the Treasury, Ministry of Finance further stated that given the context where tax relief has been granted for imported vehicles under the category of special purpose vehicles, this opportunity given is often misused.

The Secretary pointed out that the Government incur a great loss in terms of tax revenue as it has now been identified that vehicles imported under the category of special purpose vehicles are being used as ordinary purpose vehicles.

He further explained that last year alone, 947 freezer trucks were imported and that it has been reported that most of the imported freezer trucks remove the refrigerators after importation and used them as ordinary lorries. Accordingly, steps have been taken to revise the relevant taxes by these regulations.

Expressing views, Parliamentarian Nalin Fernando stated that a situation of tax evasion on technical matters pertaining to the margarine importation has also risen. The Secretary to the Ministry of Finance told the Committee that this is expected to be done in the future under a new methodology.

Parliamentarian Dr. Harsha de Silva, inquired from the Secretary to the Ministry of Finance regarding a statement made by the Minister of Energy Udaya Gammanpila regarding notion that the country is currently in an economic crisis. Responding to it the Secretary to the Ministry of Finance stated that despite certain economic concerns that may arise given the current situation, every effort will be made to manage such concerns properly.

Further, the proposal to increase the salaries and allowances of the members including the Chairman of the Office of the Missing Persons which was rejected at the last Committee meeting was approved at the Committee meeting held yesterday after taking all factors into consideration.

 

 



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“We Are Building a Stable, Transparent and Resilient Sri Lanka Ready for Sustainable Investment Partnerships” – PM

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Prime Minister Dr. Harini Amarasuriya addressed members of the Chief Executives Organization (CEO) during a session held on Thursday [3 February 2026] at the Shangri-La Hotel, Colombo, as part of CEO’s Pearl of the Indian Ocean: Sri Lanka programme.

The Chief Executives Organization is a global network of business leaders representing diverse industries across more than 60 countries. The visiting delegation comprised leading entrepreneurs and executives exploring Sri Lanka’s economic prospects, investment climate, and development trajectory.

Addressing the gathering, the Prime Minister emphasized that Sri Lanka’s reform agenda is anchored in structural transformation, transparency, and inclusive growth.

“We are committed not only to ensuring equitable access to education, but equitable access to quality education. Our reforms are designed to create flexible pathways for young people beyond general education and to build a skilled and adaptable workforce for the future.”

She highlighted that the Government is undertaking a fundamental pedagogical shift towards a more student-focused, less examination-driven system as part of a broader national transformation.

Reflecting on Sri Lanka’s recent political transition, the Prime Minister stated:

“The people gave us a mandate to restore accountability, strengthen democratic governance, and ensure that opportunity is not determined by patronage or privilege, but by fairness and merit. Sri Lanka is stabilizing. We have recorded positive growth, restored confidence in key sectors, and are committed to sustaining this momentum. But our objective is not short-term recovery it is long-term resilience.”

Addressing governance reforms aimed at improving the investment climate, she said:

“We are aligning our legislative and regulatory frameworks with international standards to provide predictability, investor protection, and institutional transparency. Sustainable investment requires trust, and trust requires reform.”

Turning to the recent impact of Cyclone Ditwa, which affected all 25 districts of the country, the Prime Minister underscored the urgency of climate resilience.

“Climate change is not a distant threat. It is a lived reality for our people. We are rebuilding not simply to recover, but to build resilience, strengthen disaster mitigation systems, and protect vulnerable communities.”

Inviting CEO members to consider Sri Lanka as a strategic partner in the Indo-Pacific region, she highlighted opportunities in value-added mineral exports, logistics and shipping, agro-processing, renewable energy, pharmaceuticals, and innovation-driven sectors.

“We are not looking for speculative gains. We are seeking long-term partners who share our commitment to transparency, sustainability, and inclusive development.”

She further emphasized collaboration in education, research, vocational training, and innovation as essential pillars for sustained economic growth.

Concluding her address, the Prime Minister expressed appreciation to the Chief Executives Organization for selecting Sri Lanka as part of its 2026 programme and reaffirmed the Government’s readiness to engage constructively with responsible global investors.

The event was attended by the Governor of the Western Province,  Hanif Yusoof, and other distinguished guests.

[Prime Minister’s Media Division]

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Prez AKD congratulates BNP’s Tarique Rahman on B’desh election win

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President Anura Kumara Dissanayake has extended his congratulations to the Bangladesh Nationalist Party (BNP) and its leader, Tarique Rahman, following their landslide victory in Bangladesh’s parliamentary elections.

“Best wishes to the people of Bangladesh for reaffirming their faith in democracy, and congratulations to Mr. Tarique Rahman on leading the BNP in these elections. The results reflect the trust placed in him. I look forward to strengthening ties between our two nations,” President Dissanayake said, in a post on ‘X’.

The Bangladesh Nationalist Party won a landslide parliamentary election on Friday, securing a resounding mandate in a pivotal vote that is expected to restore political stability in the South Asian nation.

The parliamentary election held on Thursday was Bangladesh’s first vote since the 2024 Gen Z-driven uprising that toppled long-time premier Sheikh Hasina.

Opinion polls had given BNP an edge, and the party lived up to the forecasts, with the coalition it dominates winning 209 seats to secure an overwhelming two-thirds majority in the 300-member Jatiya Sangsad, or House of the Nation, Jamuna TV showed.

Soon after it won a majority in the overnight vote-count, the party thanked and congratulated the people and called for special prayers on Friday for the welfare of the country and its people.

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Massive Sangha confab to address alleged injustices against monks

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A major Sangha conference will be held on February 20 at 2 PM at the All Ceylon Buddhist Congress (ACBC) Headquarters in Colombo, bringing together both monastic and lay communities to discuss concerns over alleged injustices against Buddhist monks, the Buddha Sasana, and the nation.

Speaking at a press conference in Colombo on Thursday (12), Roshan Maddumage, Deputy Chairman of the ACBC, said the primary aim of the conference is to highlight misconduct and draw government attention to these matters.

ACBC Chairman Chandra Nimal Wakishta emphasized that the country’s legal system appears to operate inconsistently. He noted that while police officers involved in the assault of a Catholic priest were prosecuted and jailed, no investigation has been conducted into police officers accused of assaulting Buddhist monks in Trincomalee.

Wakishta stressed that the Sinhala Buddhist community has historically not engaged in violence or promoted hatred. He added that the Maha Sangha play a central role in guiding and protecting the country and the state, and that harassment or attacks on monks indirectly harm the nation as a whole.

He explained that the decision to convene the Sangha conference stems from the urgency of addressing these serious concerns, with the event expected to serve as a platform for dialogue between the clergy, lay followers, and government representatives.

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