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Sri Lanka
10th Parliament· 154 sittings on record · 30,475 speeches · latest 10 June 2026

Sitting of Friday, 28 February 2025

10th Parliament· 12 debates· 184 speeches· 67 speakers

Source: Hansard PDF (parliament.lk) ↗ ·No. 1741927369029372 ·English daily/uncorrected Hansard

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Order of business

Speeches load per item. Summaries shown here are AI-generated and labelled; verbatim text is on each speech page.

  5. 5 Oral question Oral Question 2 - Companies Registered with Registrar of Companies (Q.426/2025) 12 speeches
    • The Hon. Ravi Karunanayake NDF

      AI summary Hon. Ravi Karunanayake sought detailed information from the Minister of Trade, Commerce, Food Security and Co-operative Development on the Registrar of Companies, including current and past officeholders from 2015 to 2024. He requested statistics on company incorporations to date and by selected years, average incorporation time, revenue earned from incorporations, the number of active companies, and whether the Registrar of Companies Department has been fully automated.

      Public Finance Full speech →
    • The Hon. Wasantha Samarasinghe - Minister of Trade, Commerce, Food Security and Co-operative Development JJB

      AI summary The Minister answered a question on the Registrar of Companies, naming Mrs. K.A.P. de Silva as the current Acting Registrar General and providing a timeline of recent officeholders and vacancies. He stated that 223,383 companies had been incorporated from 5 May 2007 to 31 January 2025, with 202,426 active companies, and that registration normally takes two to four working days. He also reported total incorporation revenue of Rs. 9,906.748 million from 2003 to 2024 and said company-related processes under the Companies Act No. 7 of 2007 are online and computerized, though the Department is not fully automated.

      Public Finance Full speech →
    • The Hon. Ravi Karunanayake NDF

      AI summary Ravi Karunanayake noted a disparity between the number of registered active companies and those paying tax, stating that only about 23,800 of roughly 205,000 registered companies pay Inland Revenue. He urged the Government to ensure all 202,426 active companies are brought online, can be registered within a day, and are covered by a mechanism to ensure tax compliance.

      Corruption & Governance ReformPublic Finance Full speech →
    • The Hon. Wasantha Samarasinghe JJB

      AI summary Of the 202,426 registered companies, only about 65,000 are active, and approximately 25,000 to 27,000 pay taxes. Wasantha Samarasinghe said ICT upgrades are being expedited and that Cabinet approval has been obtained to fill the Registrar General post, which is currently held in an acting capacity, with recruitment being fast-tracked among qualified candidates.

      Parliamentary ProcedurePublic Finance Full speech →
    • The Hon. Ravi Karunanayake NDF

      AI summary The member suggested that a capable woman officer from within the institution could be appointed to the relevant position.

      Women & Children Full speech →
    • The Hon. Wasantha Samarasinghe JJB

      AI summary Recruitment is to proceed according to due procedure, allowing both qualified internal and external candidates to apply. Regarding IT system concerns, past issues between the institution and the vendor were noted, but KPMG, which has managed the system for over 15 years, has agreed to provide necessary support to prevent disruptions. The matter is being advanced expeditiously.

      Parliamentary Procedure Full speech →
    • The Hon. Wasantha Samarasinghe JJB

      AI summary The Hon. Wasantha Samarasinghe stated that discussions are ongoing and necessary steps are being taken to expedite the relevant matter.

      Parliamentary Procedure Full speech →
    • The Hon. Ravi Karunanayake NDF

      AI summary Raised the issue that company registration costs of around Rs. 35,000–50,000 may be burdensome for SMEs and start-ups. Proposed creating a “small companies” category, similar to the UK model, with lower paid-up capital thresholds and a pathway for such firms to graduate later as they grow.

      Public Finance Full speech →
    • The Hon. Wasantha Samarasinghe JJB

      AI summary Hon. Wasantha Samarasinghe stated that business registration processes have become faster and more accessible, particularly for younger entrepreneurs moving from sole proprietorships to partnerships. He said fee reforms are being considered, including a shift to a paid-up capital basis and rationalized charges, and added that further facilitation of easier registration would take into account the proposal raised.

      Public Finance Full speech →
    • Mr. Speaker procedural
      Full speech →
    • The Hon. Ravi Karunanayake NDF

      AI summary Ravi Karunanayake asked for clarification regarding the second supplementary question. No further substantive argument, proposal, or policy matter is included in the provided excerpt.

      Parliamentary Procedure Full speech →
    • The Hon. Wasantha Samarasinghe JJB

      AI summary Wasantha Samarasinghe stated that requirements under the Companies Act and existing Company Secretariat procedures would be reviewed. He also indicated that the suggestion to lower paid-up capital thresholds would be examined.

      Parliamentary Procedure Full speech →