The Hon. Chathuranga Abeysinghe - Deputy Minister of Industry and Entrepreneurship Development

¶ 01 Hon. Deputy Chair, today we are enacting important reforms in logistics and the import–export interface. Before addressing the Bill, I respond to the Leader of the Opposition: he practices the “fallacy of unwarranted anticipation” — predicting outcomes and then demanding action as if they had happened. He said last year that if the US imposed tariffs we would be doomed; today he says if some country’s tariff is reduced, we are doomed. This is inconsistent.

¶ 02 The Opposition hoped the economy would collapse: that the IMF and World Bank would withdraw; that American tariffs would cut exports; even that the “Dittewa” cyclone would break the economy. They want instability to regain power. But the economy is strengthening. Our IMF programme runs to 2027 and we are meeting its targets. Seniors’ welfare is being addressed proportionate to prevailing rates; when they quote 15 percent, they forget policy rates were 28–30 percent then; today rates are near single digits.

¶ 03 Regarding the IMF tranche, a senior official will be here on Saturday; we expect the tranche on time. Macroeconomic stability is in place: the twin deficits have been addressed; analysts and the Central Bank affirm fiscal discipline and sustainability.

¶ 04 Debt service is manageable in coming years: USD 3.9 bn in 2025 (Govt 2.2, CBSL 1.0), USD 2.58 bn in 2027, 3.2–3.5 bn in 2028–2030, with rising exports, investment and remittances. Under the programme: revenue 15.9% of GDP, expenditure 13%, capex 4%, primary surplus 2.5%; policy rates in single digits; market-determined exchange; inflation around 5%. Transport and logistics are crucial to export growth. We are leveraging our location — which others like Singapore capitalized on — and have already reached USD 1.9 bn in sectoral earnings.

¶ 05 Today’s Container Depot Operators Licensing Bill answers a long-standing industry demand: to regulate depots, reduce congestion, set service and price standards, and empower the Director-General of Merchant Shipping. Alongside, we are digitizing port processes — Port Community System, Single Window, and developing an export hub.

¶ 06 Regarding the Institute of Real Estate Professionals, Sri Lanka: every profession requires recognized bodies with standards and accountability. Government’s duty is to professionalize, instill responsibility and attract talent, taking professions to international level, through dialogue across ministries and stakeholders. This institute is part of that process. I invite the Opposition to contribute constructively at the Finance Committee or elsewhere rather than engage in scare-mongering.