Hon. Wijesiri Basnayake, M.P.

Jathika Jana balawegaya (JJB)· Kurunegala

Profession: University Lecturer

Roster profile ↗

Speeches 27 #144 of 225·#84 in party

Attendance 8/8 days present (of recorded)

Speech history

27 speeches

10 June 2026 AI summary Hon. Wijesiri Basnayake supported the regulations under the Monetary Law Act requiring faster repatriation and conversion of export proceeds, arguing they are necessary to manage foreign exchange pressures caused by global instability, higher import costs, and increased dollar demand. He rejected Opposition claims that the measures restrict business freedom, contrasting current economic indicators with the 2022 crisis and citing improved revenue, reserves, inflation, remittances, tourism, and IMF-related fiscal performance. He also highlighted planned Port City-related foreign investment, job creation, and international agreements as part of the Government’s development strategy. Debate: Central Bank Rules on Export Proceeds Repatriation and Essential Public Services Resolution Public FinanceInfrastructureForeign Affairs Read →
19 May 2026 AI summary Hon. Wijesiri Basnayake supported the amendments to the Inland Revenue Act, stating they are intended to align Sri Lanka’s tax system with international standards, simplify administration, remove ambiguities, broaden the tax base and improve compliance rather than reintroduce arbitrary criminal enforcement. He cited Sri Lanka’s low government revenue-to-GDP ratio in 2022 and argued that revenue must rise to at least 15 percent of GDP to support state functions and development. He outlined measures including changes to estimated payment reporting, exemptions for specified Sri Lanka Air Force payments to non-residents, clarification of life insurance proceeds, net-basis treatment of donations to state universities, and an increase in capital gains tax for individuals and partnerships from 10 to 15 percent. He also attributed rupee depreciation to external shocks affecting freight, oil prices, imports, exports, remittances and tourism, calling for further discussion on interest rates and reserves. Debate: Second Reading of Inland Revenue (Amendment) Bill and Committee Stage Law & OrderPublic Finance Read →
5 May 2026 AI summary Hon. Wijesiri Basnayake supported regulations under the Colombo Port City Economic Commission Act, arguing that amendments are needed to make Port City activities more accountable while encouraging exports, manufacturing, and foreign investment. He contrasted the Government’s economic approach with alleged mismanagement by previous administrations, citing a Supreme Court judgment holding former leaders and officials responsible for the economic crisis. He presented 2025 economic indicators, including increased investment, GDP growth, low inflation, higher remittances, tourism arrivals, reserves, and a primary surplus, as evidence of recovery and prudent fiscal management. He also referred to a recent peace march and called for Opposition support in building a humane and economically stable country. Debate: Port City Economic Commission Regulations and Orders Corruption & Governance ReformPublic FinanceInfrastructure Read →
4 March 2026 AI summary Hon. Wijesiri Basnayake supported the Microfinance and Credit Regulatory Authority Bill, rejecting Opposition claims that it is being rushed or would improperly cover banks, finance companies, cooperatives, or small village societies. He said the Bill targets currently under-regulated community-based organisations, microfinance companies, and NGOs, and is needed to address unregistered operators, illegal deposit-taking, excessive interest rates, unethical recoveries, and harassment of borrowers, particularly women. He argued that regulated microfinance can expand financial inclusion for low-income people, help break cycles of poverty, restore trust in the sector, and support economic growth. Debate: Microfinance and Credit Regulatory Authority Bill - Second Reading (Continued) Public FinanceEmployment Read →
3 March 2026 AI summary Hon. Wijesiri Basnayake supported the Regulation under Section 22 of the Foreign Exchange Act, stating that improved foreign exchange conditions allow relaxation of earlier restrictions on outward transactions. He highlighted proposed increases to limits for Business Foreign Currency Accounts from USD 200,000 to USD 500,000, Personal Foreign Currency Accounts from USD 22,000 to USD 25,000, and the reopening of certain outward capital transactions through rupee-funded Outward Investment Accounts. He linked these measures to the Government’s broader economic management, citing revenue performance, relief funding after the “@DOo” cyclone, capital expenditure, lower interest rates, controlled inflation, and recent GDP growth, while calling for cooperation to expand the economy. Debate: Regulation under Foreign Exchange Act, No. 12 of 2017 Foreign AffairsCorruption & Governance ReformPublic Finance Read →
20 January 2026 AI summary Hon. Wijesiri Basnayake discussed amendments to the Aswesuma social protection payment scheme under the Welfare Benefits Act, noting extensions of benefits for vulnerable households to June 2026 and for poor and extreme poor households to June 2027, while disability, kidney patient, and elderly benefits continue. He outlined the scheme’s categories and payment levels, and linked the changes to continuing hardship after Cyclone “Didva.” He acknowledged concerns about targeting errors, including exclusion of eligible poor households and inclusion of ineligible households, and said a Technical Committee is revising indicators and weights, after which field verification and an updated poverty registry will be used to improve benefit delivery. Debate - Aswesuma Welfare Benefit Payment Scheme Public FinanceCost of LivingEducation Read →
7 January 2026 AI summary Hon. Wijesiri Basnayake supported amendments to Act No. 11 of 2021 concerning the Port City framework, arguing that stronger provisions are needed to make it a competitive Special Economic Zone and financial hub. He outlined investment routes through BOI-facilitated FDI, forthcoming PPP legislation, joint ventures, and the Port City, and said reforms would introduce a single-window mechanism, clearer incentives, tax fairness, and Central Bank-regulated offshore banking. He highlighted changes ending employment income tax exemptions for new zone employees, transitioning existing registrants over three years, and setting time-bound, criteria-based incentives for Businesses of Strategic Importance. He also cited recent economic growth figures and criticized opposition to certain public appointments, urging cooperation in national development. Debate: Colombo Port City Economic Commission (Amendment) Bill Public FinanceJustice & Human RightsForeign Affairs Read →
27 November 2025 AI summary Hon. Wijesiri Basnayake presented, on behalf of the Chairman of the Committee on Public Finance, the Committee’s report on the Social Security Contribution Levy (Amendment) Bill, the Betting and Gaming Levy (Amendment) Bill, and a regulation under the Finance Act, No. 11 of 2004. The report was ordered to lie upon the Table. Opening and Announcements Public Finance Read →
8 November 2025 AI summary Hon. Wijesiri Basnayake said the National People’s Power’s vision, “A Prosperous Country – A Beautiful Life,” is being implemented through short-, medium- and long-term plans, with the 2025 Budget as the first phase. He described the Budget as a development roadmap rather than only an income-expenditure statement, and argued that the Government’s reforms have helped Sri Lanka emerge from crisis. He highlighted meeting revenue targets, maintaining the expected deficit, and avoiding supplementary estimates in 2025 as evidence of fiscal discipline. Second Reading Debate: Appropriation Bill, 2026 Public Finance Read →
26 September 2025 AI summary A petition from Mr. Priyantha Udaya Kumara of Wellawatte, Colombo 06, was presented to Parliament. No details of the petition’s subject matter were provided in the statement. Citizens' Petitions Parliamentary Procedure Read →
11 September 2025 AI summary Hon. Wijesiri Basnayake supported the amendments to the National Audit Act, No. 19 of 2018, and the related supplementary estimates, arguing that they aim to strengthen public sector audit governance, accountability, fiscal discipline, and the surcharge process. He placed the Bill in the context of Parliament’s constitutional control over public finance under Article 148, the role of the Auditor-General, and IMF-identified weaknesses following the 2023 programme. He also criticised past misuse of public funds and said the Government was seeking to correct public financial management through stronger audit and oversight mechanisms. National Audit (Amendment) Bill Second Reading and Supplementary Estimates Debate Public FinanceCorruption & Governance ReformJustice & Human Rights Read →
9 September 2025 AI summary Presented a petition to Parliament from Mr. R.P.M. Rajapaksha of No. 29, Desiwali Uyana, Ilukwela, Weuda, for consideration under parliamentary procedure. Petitions Parliamentary Procedure Read →
19 August 2025 AI summary Hon. Wijesiri Basnayake supported the Gambling Regulatory Authority Bill, arguing that regulated gambling, including casinos, online gaming, ship-board casinos and junket operations, would help standardize the sector, reduce social harm and strengthen tourism. He said tourism remains a major source of foreign exchange, with Sri Lanka having passed half of its 2025 target of three million arrivals, and linked entertainment regulation to economic expansion. He also defended the Government’s economic management, citing improved revenue and tax performance, rejecting Opposition claims on money printing, and referring to negotiations that reduced a US reciprocal tariff from 44 per cent to 20 per cent. Debate: Gambling Regulatory Authority Bill, Public Debt Management Act Regulations, and Foreign Exchange Act Regulations Public FinanceLaw & OrderForeign Affairs Read →
7 August 2025 AI summary India and China were identified as major potential tourism markets, and the Government is preparing programmes to attract travellers from those countries. The speech also stated that the economy is stabilizing and called for unity in building a prosperous nation. Adjournment Debate: Current Economic Status of the Country Foreign Affairs Read →
7 August 2025 AI summary Hon. Wijesiri Basnayake moved an Adjournment Motion on the country’s current economic status, arguing that the Government has restored macroeconomic stability after the recent crisis and is now seeking faster growth and reform. He cited improved GDP growth, private credit expansion, investor confidence, FDI approvals, export diversification, tourism recovery, and management of US reciprocal tariffs through diplomatic engagement. He urged Parliament, including the Opposition, to support the Government’s economic programme and use the House’s financial powers to consolidate recovery and deliver benefits to the public. Adjournment Debate: Current Economic Status of the Country Parliamentary ProcedurePublic FinanceCost of Living Read →
6 August 2025 AI summary A petition was presented on behalf of D.B. Manel Somaratne of Narammla, Bemmullagedara, Meevachcha, Bomthalu Chathta. No details of the petition’s subject matter were stated in the speech. Petitions Parliamentary Procedure Read →
6 August 2025 AI summary Wijesiri Basnayake presented, on behalf of the Chairperson of the Sectoral Oversight Committee on Economic Development and International Relations, the Committee’s report on three documents referred to it: the 2023 Performance Reports of the Ministries of Finance and Foreign Affairs, and the 2022 Annual Report of the Sri Lanka Bureau of Foreign Employment. The report was ordered to lie upon the Table. Papers: Tabling of Annual and Performance Reports Parliamentary ProcedureForeign AffairsPublic Finance Read →
23 July 2025 AI summary Hon. Wijesiri Basnayake explained that Sri Lanka’s anti-money laundering and counter-terrorist financing framework has been assessed under FATF and APG standards, with past grey-listing linked to strategic deficiencies. He stated that Sri Lanka complies with 39 of the 40 FATF Recommendations, but needs to improve implementation of Recommendation 24 on timely access to beneficial ownership information of legal persons. He said amendments to about 20 provisions of the Companies Act, No. 7 of 2007, including section 51, are being prepared in line with IMF recommendations and international standards. Debate: Companies (Amendment) Bill – Second Reading Law & OrderPublic Finance Read →
23 July 2025 AI summary Wijesiri Basnayake spoke during the debate on amendments to the Companies Act, No. 7 of 2007, and expressed regret at what he described as limited Opposition participation. He focused on money laundering and terrorist financing, citing international examples and references to the Panama Papers, Pandora Papers, FATF, IMF estimates, and AUSTRAC definitions. He argued that money laundering threatens financial systems, national security, macroeconomic stability, fiscal revenue, and public trust, and emphasized the need for strong global and domestic anti-money-laundering and counter-terrorist-financing measures. Debate: Companies (Amendment) Bill – Second Reading Security & DefencePublic FinanceLaw & Order Read →
30 June 2025 AI summary Hon. Wijesiri Basnayake seconded the Motion and linked the Fiscal Strategy Statement to Sri Lanka’s post-2022 recovery and the Public Financial Management Act, No. 44 of 2024. He outlined the 2026 targets, including maintaining a primary surplus, capping primary expenditure, increasing revenue and public investment, reducing the deficit, and bringing public debt below 95 per cent of GDP by 2032. He also cited recent fiscal performance, including the 2024 primary surplus, lower deficit, improved revenue collection, and Q1 2025 growth, attributing progress to reforms, fiscal administration, exports, FDI, and SOE restructuring. Procedural: Points of Order and Debate Preparation on Fiscal Strategy Statement Public Finance Read →