The Hon. Ravi Karunanayake

¶ 01 If I can also get two more minutes from you, Madam, it would be good. I will conclude quickly, Hon. Deputy Chairperson of Committees.

¶ 02 Look at how far India has advanced by now. Twenty years ago, their total income was USD 1 trillion. Today it is USD 4.8 trillion. After the US, China and Japan, India stands next and within another year India will be third. Sri Lanka’s proximity to India is an advantage to us as well as to India. Just as Hong Kong helped China, if Sri Lanka integrates with India and works together, even a 3% lift from their trade sphere would see our growth approach 10-12%.

¶ 03 We cannot keep pushing forward with 3-4% growth. We cannot go forward by hiking interest rates just to control inflation as the Central Bank prescribes, thereby contracting the economy. What we need is to drive SMEs, convert our youth into entrepreneurs, and give opportunities to our women. We must ensure our women’s labour is used here rather than them being forced to migrate to the Middle East. Tomorrow on International Women’s Day, Madam, when you speak of them, make sure they get due recognition and identity, Hon. Deputy Chairperson of Committees. But the Central Bank has never allowed this and has proved as much.

¶ 04 Therefore, I take this opportunity to call for bringing in as much foreign capital as possible. The previous Member who spoke about the balance of payments is correct. We need to strengthen that side. For that, we need capital accounts, not just current accounts. If we can bring money into this country through capital accounts, our rupee will strengthen and our cost of living will fall. Because if the rupee strengthens,—