The Hon. Ravi Karunanayake

¶ 01 Hon. Presiding Member, I trust the time taken for the change of Chair is not deducted from my time.

¶ 02 Sir, I quote the World Bank on Sri Lanka: “Sri Lanka has made remarkable progress, stability in its economy by carrying out one of its largest fiscal adjustments—about 8 per cent of GDP—over three years starting from January 2023, at a pace sharper and faster than international standards.”

¶ 03 It is Sri Lankans who bore this economic burden; revenue was raised from the people. We must acknowledge them. Despite hardships, unlike in Nepal today—where Parliament, the President’s Office, the Prime Minister’s Office, and even major hotels like Marriott and Hilton have been torched—we stayed the course of reform initiated by President Ranil Wickremesinghe and avoided such disaster. The World Bank notes the reform journey began in 2023. Let us unite and move forward, speaking not of a fallen country but of one that can rise.

¶ 04 I have been in Parliament since 1994. We asked then for a National Audit law. In 2001 we tried to give it life. Work that began around 2001/2003 stalled and resumed post-2015. With inputs even from a former Auditor-General who entered via the National List, we have progressed. My only regret is that we should not need the IMF to prod us. Recently, the IMF warned two months ago that the fifth tranche would not be released without these steps—we should not need “the whites” to tell us. We must do the right thing ourselves.

¶ 05 What do these amendments do? They strengthen the Auditor-General’s powers and also subject some unilateral decisions to review. That is good—if done properly. I later noted appointments are routed through the Constitutional Council, which is also positive—but fairness must prevail, with provision for judicial recourse beyond just a committee.

¶ 06 Today, about 1.6 million work in the public service. With a raft of new laws and amendments, many officials fear to sign off on duties, stalling the State. Do not create a Nepal or Indonesia scenario, where regional assemblies were attacked. We must create an environment to work together.

¶ 07 On the independent Surcharge Review Committee: there are merits, but can excessive penalties align with modern practice? If wrongdoing is proven, fine; otherwise be cautious. We must avoid a climate where we chase public property over Rs. 25,000 while missing larger issues. Most of our problems arise from an atmosphere that makes officials fearful.

¶ 08 We also need a forward-looking approach. Consider that in the US, when Donald Trump received a gift aircraft allegedly worth US$800 million from Qatar, it did not overturn their system—political deals exist in the modern world. We need to move with the times while ensuring integrity.

¶ 09 On remuneration: the Auditor-General and roughly 1,400 staff in the Department are paid too little. In 2015, our Government raised salaries substantially—Rs. 10,000 added to lift the minimum. Today we speak of Rs. 15,000 over three years. Without appropriately revising salaries—particularly for top critical cadres such as at CIABOC and in the Treasury—corruption cannot be eradicated. The Opposition should support such increases when aimed at strengthening institutions and the economy.

¶ 10 Our GDP is about US$80 billion; Samsung’s turnover is US$358 billion—over four times Korea’s GDP from one company’s devices. We must build an entrepôt trading hub leveraging our location.

¶ 11 Through this Audit Amendment, first we must address the balance sheet—reserves. By year-end we need US$7.2 billion in reserves; today we have US$6.1 billion. When President Wickremesinghe left in September 2024, reserves were US$6.4 billion. The Central Bank must state how we will build from US$6.1 to US$7.2. From January 2027, our IMF programme ends; how will we sustain credibility thereafter?

¶ 12 Hon. Presiding Member, thank you.