Hon. (Dr.) Anil Jayantha, M.P.

Jathika Jana balawegaya (JJB)· Gampaha

Minister of Labour and Deputy Minister of Finance and Planning

Profession: ---

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Speeches 368 #11 of 225·#5 in party

Attendance 5/8 days present (of recorded)

Speech history

368 speeches

23 January 2025 AI summary Responding on behalf of the Minister of Finance, Planning and Economic Development, Prof. Anil Jayantha provided detailed information on the Bank of Ceylon, including its incorporation date, current leadership, 658 branches, 8,214 employees, Rs. 253 billion paid-up capital, and compliance with Basel capital adequacy requirements. He tabled financial performance data, stating that profits ranged from Rs. 20.3 billion in 2014 to Rs. 40.3 billion in 2023, with estimated profits of about or above Rs. 100 billion for 2024-2026, alongside ROA, ROE, administrative cost, net interest margin, and total asset figures. He further stated that no loans above Rs. 1 billion had been written off, though provisions exceeding Rs. 1 billion had been made in accordance with International Accounting Standards and internal procedures. Oral Question No. 3 & 4 – 149/2024 & 176/2024: Bank of Ceylon Financial Status and Performance Public Finance Read →
23 January 2025 AI summary Prof. Anil Jayantha stated that the points raised would be considered, noting that zone identification work is still ongoing and not finalized. He said amendments to the BOI Act would be accompanied by separate proposals for zone management models, with selections based on economic and social viability, and emphasized that major decisions could not be concluded within two months but would proceed methodically. Oral Question No. 1 – 103/2024: Bingiriya Export Processing Zone Infrastructure Facilities InfrastructurePublic Finance Read →
23 January 2025 AI summary Hon. (Prof.) Anil Jayantha stated that any inaccuracies in the Rs. 290 million figure would be reviewed and corrected, and affirmed that the Government does not oppose further development of the Zone. He said 2025 allocations must be considered within the overall fiscal framework, including a 13 per cent of GDP expenditure ceiling and Rs. 1,315 billion in capital outlays under the Appropriation Bill. He added that investment attraction depends on multiple factors beyond a sea outfall, and that proposals for this and other zones would be assessed and prioritized step by step. Oral Question No. 1 – 103/2024: Bingiriya Export Processing Zone Infrastructure Facilities InfrastructurePublic Finance Read →
23 January 2025 AI summary The Minister, answering on behalf of the Minister of Finance, detailed expenditure and progress on BOI-related infrastructure up to 31 December 2024, including Rs. 290 million for internal works and Rs. 1,528.53 million for external infrastructure such as land acquisition, access roads, water supply and electricity. He outlined further development plans, including additional land vested in the BOI, continued road works with a Rs. 1,000 million Treasury request for 2025, expansion of water capacity to 10,000 m³ per day, and power supply increases up to 10 MW and later 20 MW. He also stated that internal roads, utilities, fencing and the entrance gate are scheduled for completion or expansion, mainly during 2025. Oral Question No. 1 – 103/2024: Bingiriya Export Processing Zone Infrastructure Facilities InfrastructurePublic FinanceEmployment Read →
22 January 2025 AI summary Applicable Customs duties were charged, according to Customs. An investigation is underway following complaints that have been lodged. Adjournment Debate: Clean Sri Lanka Programme (Postponed from 2025-01-21) Public Finance Read →
22 January 2025 AI summary The Minister clarified that the release of 323 containers was handled under established Customs procedures intended to reduce congestion, with duties levied, and was not a simple Green Channel release. He said trade union concerns were discussed under the President’s leadership, clearance operations were allowed to continue, and an inquiry would be conducted if concerns remained. He also noted that similar committee-based procedures had been used previously, including the release of 584 containers on 25 July 2024, and said the relevant Customs report would be tabled. Adjournment Debate: Clean Sri Lanka Programme (Postponed from 2025-01-21) Public FinanceLaw & Order Read →
9 January 2025 AI summary The Minister rejected the Adjournment Motion’s claims that the Government was failing to address shortages, high prices and market distortions, arguing that the NPP had inherited a severely weakened economy requiring gradual and prudent corrective measures. He denied allegations that the Government had promised an immediate 60 per cent reduction in electricity tariffs, stating that tariff reductions must be calibrated to avoid harming production. He said recent price pressures should be assessed through inflation trends, noting that the previous administration had presided over very high food and headline inflation, while the current Government was working to stabilize prices, support production and implement structural reforms. Adjournment Debate: Government Performance and Commodity Prices Public FinanceEmploymentCost of Living Read →
9 January 2025 AI summary Minister Anil Jayantha rejected the view that government should be run on a private business profit-and-loss model, arguing that policy must prioritize public welfare, domestic production, and anti-corruption safeguards. He said the Orders under the Export Development Act and Special Commodity Levy Act are intended to correct market distortions, protect local producers and small farmers, and stabilize prices, including through limited rice imports during emergencies. He also stated that Aswesuma benefit extensions are being made while correcting selection issues and linking welfare to economic empowerment, and that the Colombo West International Terminal Order supports Sri Lanka’s trading hub and investment strategy. Special Commodity Levy Act: Orders and Related Motions Corruption & Governance ReformCost of LivingPublic Finance Read →
8 January 2025 AI summary The Minister tabled a Finance Ministry document on the fertilizer subsidy programme. He reported that Rs. 16,351 million had been released from October 2024 to 7 January 2025, specifying monthly releases of Rs. 164 million in October, Rs. 5,777 million in November, Rs. 4,015 million in December, and Rs. 6,395 million by 7 January 2025. Procedural Matters and Standing Order 27(2) Question on Prevention of Terrorism Act AgriculturePublic Finance Read →
8 January 2025 AI summary Prof. Anil Jayantha raised a point of order to dispute another Member’s statement, saying the information about a Deputy Minister of Finance at a Rajanganaya Divisional Development Committee was inaccurate. He clarified that there are two Deputy Ministers attached to the Ministry of Finance, Planning and Economic Development, that he had attended a Divulapitiya Divisional Development Committee meeting, and that the matter alleged was not discussed there. He requested that inaccurate claims be corrected to avoid misleading the House. Procedural Matters and Standing Order 27(2) Question on Prevention of Terrorism Act Parliamentary Procedure Read →
8 January 2025 AI summary The Minister of Labour and Deputy Minister of Economic Development presented the 2022 Annual Report of the Employees’ Provident Fund and the 2022 Annual Performance Report of the Ministry of Labour and Foreign Employment. He moved that the reports be referred to the relevant Committees, and the motion was agreed to. Papers Presented Parliamentary Procedure Read →
7 January 2025 AI summary Hon. (Prof.) Anil Jayantha argued that past economic policies produced unequal outcomes, with gains captured by a minority while economic downturns and debt burdens were borne by the wider public. Citing per capita GDP figures and the Gini coefficient in the Mid-Year Fiscal Position Report, he said headline fiscal or growth indicators masked worsening inequality and widespread poverty. He rejected the view that IMF engagement alone could restore or develop the economy, stating that while fiscal stabilization and debt restructuring may be necessary, the Government would pursue a broader policy approach based on domestic and global economic conditions. Adjournment Debate: 2024 Mid-Year Fiscal Position Report Cost of LivingPublic FinanceCorruption & Governance Reform Read →
7 January 2025 AI summary The Minister concluded the adjournment debate on the Mid-Year Fiscal Position Report 2024, noting that it was presented under Section 50 of the State Finance Management Act, No. 44 of 2024, to inform the public and guide future economic policy. He said the Government’s approach is to expand production, stabilize the macroeconomic framework, protect vulnerable groups, and move towards a modern, productive economy. He rejected Opposition criticisms as not directly engaging with the policy content of the Report and framed the Report as a baseline for sustainable, people-centred growth. Adjournment Debate: 2024 Mid-Year Fiscal Position Report EmploymentPublic Finance Read →
7 January 2025 AI summary Hon. (Prof.) Anil Jayantha clarified that a prior remark referred to the model currently being followed, not to a model proposed or supported by him. He requested that his statement not be misinterpreted after his name was mentioned in the debate. Adjournment Debate: 2024 Mid-Year Fiscal Position Report Parliamentary Procedure Read →
7 January 2025 AI summary Hon. (Prof.) Anil Jayantha clarified that his earlier reference was to the model currently in use under the existing situation, not to a model endorsed or followed by him. He asked that his statement not be misinterpreted. Adjournment Debate: 2024 Mid-Year Fiscal Position Report Parliamentary Procedure Read →
7 January 2025 AI summary Hon. (Prof.) Anil Jayantha said the Government is working with Treasury officials to manage state finances while prioritizing increased production and growth. He stated that a 2025 programme would expand micro, small and medium industries, with further steps toward 2026 to be set out through the forthcoming Appropriation Bill and related measures. He emphasized that growth should reduce inequality and said support programmes would aim to connect people to the economic process rather than function as mere handouts. Oral Question: Economic Projections and Key Development Sectors (Q.234/2024) Land & HousingPublic FinanceEmployment Read →
7 January 2025 AI summary Agreed that guidelines and inflation targeting alone are insufficient, the speech referred to the State Financial Management Act and IMF-linked GDP projections underpinning 2025 revenue and expenditure limits. It noted limitations in statistical modelling such as ARDL, and stated that the fiscal framework targets revenue at 15 per cent of GDP and expenditure at 13 per cent, supported by proposed fair fiscal measures. The central policy objective identified was increasing production through expanded investment, with the programme to be adjusted and reformed as needed. Oral Question: Economic Projections and Key Development Sectors (Q.234/2024) Public Finance Read →
7 January 2025 AI summary Prof. Anil Jayantha identified ten key development sectors, including human resource development, modern agriculture, energy, digitalization, tourism, IT, fisheries, transport, MSMEs, and culture/environmental conservation, all linked to the “Clean Sri Lanka” initiative. He stated that investment projections are based on recent trends, incentives, improved investment conditions, and policy consistency, with USD 879 million in domestic investment projected for 2025. He said the Government aims to attract at least USD 2 billion in FDI annually up to 2034, prioritizing technology and capital-intensive projects, while addressing anti-money laundering and counter-terrorist financing grey-list concerns; a detailed answer with tables was tabled. Oral Question: Economic Projections and Key Development Sectors (Q.234/2024) AgriculturePublic FinanceInfrastructure Read →
7 January 2025 AI summary The Minister, responding on behalf of the Minister of Finance, stated that Sri Lanka’s average economic growth over the past 30 years was about 4.2 per cent, with a high of 9.1 per cent in 2012 and a low of -7.3 per cent in 2022, and tabled detailed figures. He said current growth projections are prepared under the State Financial Management Act, No. 44 of 2024, with IMF and Department of State Financial Policy involvement using an autoregressive distributed lag model, but noted concerns with the model and said revisions are expected, citing the 2024 projection rising from 2 per cent to around 4–5 per cent. Oral Question: Economic Projections and Key Development Sectors (Q.234/2024) Public Finance Read →
18 December 2024 AI summary Prof. Anil Jayantha stated that discussions with political and business leaders emphasized the need for cooperation, transparency, international partnerships, and higher production to align with global economic trends. He said the National People’s Power government would use its first term to recover the country from past economic and social damage and pursue its programme of “A Prosperous Country, a Beautiful Life.” Procedural: Adjournment Foreign Affairs Read →