The Hon. Champika Hettiarachchi

¶ 01 Hon. Presiding Member, though we were to speak on the Regulation under Section 22 of the Foreign Exchange Act, since morning Members have spoken on global and local situations. We endured a 30-year war, largely driven by the whims of rulers; we therefore express sympathy for any civilians who die in wars anywhere.

¶ 02 The irony is that those who paved the way for terror at home — even the Easter attacks for electoral gain — now weep crocodile tears over war casualties abroad. Our party, the NPP, has a deeper sensitivity than such hypocrisy.

¶ 03 On the FE Act: since 2017 it has been amended roughly every six months. In 2023, conditions were relaxed in line with the IMF debt restructuring. At that time gross reserves were USD 4.39 billion; by end-January this year, USD 6.3 billion. We also restarted vehicle imports, opening LCs of USD 2.4 billion, with USD 1.9 billion paid. With USD 6.3 billion in reserves, we are relaxing rules to attract investors. The Central Bank, as an independent institution, determines these thresholds — not politicians.

¶ 04 We aim to attract FDI as stability improves and also enable competent Sri Lankan businesses to invest abroad, including in rapidly growing India and Africa. The Opposition Leader and others focused more on macro instability than on the merits of this easing — talk that can itself deter investors, dragging the country back to 2022. Some are trying to ignite panic via fuel queues to bankrupt the country for political advantage. Do not do this; it will throw our people back into the abyss.

¶ 05 Since vehicle imports resumed after five years, new-technology vehicles have arrived. With digitalisation and tech in new industries, we are moving forward. While some spent five years at home, we advanced. With thanks for the time, I conclude.