The Parliamentary Pensions (Repeal) Bill was passed in Parliament today (17) with a majority of 152 votes.

Following the Second Reading debate on the Bill, held from 11:30 a.m. to 5:30 p.m. today, the Minister of Justice and National Integration called for a division. Accordingly, 154 votes were cast in favour of the Bill and 2 votes against.

During the Committee Stage that followed, Hon. Members of Parliament Ravi Karunanayake and Chamara Sampath Dassanayake proposed amendments to section 3 of the Bill. The Minister of Justice and National Integration informed the House that the amendments would not be accepted. Thereafter, Hon. Member of Parliament Chamara Sampath Dassanayake requested a division on his proposed amendment. At the vote, 152 votes were cast in favour of passing section 3 without amendment, while 4 votes were cast in favour of the proposed amendment.

Hon. Member of Parliament Ravi Karunanayake also proposed an amendment to section 4 of the Bill. The Minister informed the House that this amendment too would not be accepted. The Bill was subsequently passed without amendments following the Third Reading.

The Bill was first presented to Parliament by the Minister of Justice and National Integration on 07 January 2026 for its First Reading.

The Bill also received the endorsement of the Hon. Speaker, Dr. Jagath Wickramaratne, today. Accordingly, it will come into force as the Parliamentary Pensions (Repeal) Act, No. 5 of 2026.

This Act repeals the Parliamentary Pensions Law, No. 1 of 1977. In terms of section 3 of the new Act, any person who is entitled to receive a pension or is in receipt of a pension under the provisions preceding the date of commencement of this Act, shall, on and after the date of commencement of this Act, cease to receive such pension.

The Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Defense to appoint Rear Admiral R.Joseph to the post of Director General at the Department of Coastal Conservation with immediate effect.

Central Bank Governor Dr. Nandalal Weerasinghe recently told a breakfast meeting hosted by Sri Lanka-Germany Business Council of the Ceylon Chamber of Commerce that there were no basis for concerns regarding external debt repayments from 2028. Dr. Weeerasinghe said that such concerns were unwarranted, given the buffers established by the Government and its commitment to meeting obligations.

The event was graced by Dr. Felix Neumann, Ambassador of the Federal Republic of Germany to Sri Lanka, Patron of the Council, and brought together over 100 distinguished participants, including Council members, representatives of German-affiliated organisations, senior government officials, and leading members of Sri Lanka’s private sector.

Welcoming the gathering, Gerard Victoria, President of the SLGBC highlighted the Council’s longstanding commitment to strengthening trade and investment ties between Sri Lanka and Germany. Established in 1999, the SLGBC continues to serve as a vital platform for fostering bilateral commercial relations built upon over seven decades of diplomatic and economic cooperation between the two nations.

Addressing the forum under the theme “Sri Lanka: The Way Forward,” Governor Weerasinghe shared insights into the country’s macroeconomic outlook and reform trajectory. He noted that the current path of economic stabilisation is expected to continue, supported by a strengthened policy framework and improved fundamentals. The Governor expressed appreciation to the German Government for its support in Sri Lanka’s external debt restructuring process and emphasised that the recent progress, including developments related to

SriLankan Airlines’ debt restructuring, is expected to positively influence the country’s sovereign credit profile.

He underscored the importance of addressing legacy structural issues to unlock higher and more sustainable growth, while reassuring participants that concerns regarding external debt repayments from 2028 onwards are unwarranted, given the buffers established by the Government and its commitment to meeting obligations.

During the interactive discussion, the Governor highlighted that the current low interest rate environment presents a conducive climate for business planning and investment. He explained that monetary policy remains guided by an inflation-targeting framework, with inflation now more stable and anchored at mid-single-digit levels compared to previous periods.

Providing an update on the IMF-supported program, the Governor stated that while the fifth review had experienced a delay due to post-program assessments, he remains confident that the program will remain on track during the year.

He noted positive trends in external inflows, including increased remittances—particularly from skilled migrants—and improved recording of earnings from freelancers. Addressing global risks, he pointed to ongoing geopolitical uncertainties and emerging disruptions linked to advancements in artificial intelligence, emphasizing the need for both the Government and private sector to adapt swiftly to remain competitive.

The event concluded with a vibrant exchange of views between policymakers and the business community, reaffirming the importance of constructive dialogue in shaping Sri Lanka’s economic future and further strengthening Sri Lanka–Germany economic cooperation.