The Hon. Nanda Bandara

¶ 01 Hon. Presiding Member, today we debate a regulation made under Section 22 of the Foreign Exchange Act, No. 12 of 2017. This regulation is crucial for business needs: to provide facilities for Sri Lankan enterprises to expand globally. Under existing policy, there was a cap on reinvestment of foreign exchange by those who earn it. This regulation expands the cap from USD 200,000 to USD 500,000. The NPP Government is implementing this to boost remittances and expand the economy, thinking always of the people’s future and sustainable growth. We will adapt laws to a changing world and manage the economy prudently.

¶ 02 The current Opposition once held state power but is now very weak; they only criticize without acknowledging positives. They cannot claim economic collapse, political anarchy, or authoritarianism — hence their resort to topics unrelated to the agenda.

¶ 03 I have been here about one and a half years and have heard the same speech from the Opposition Leader every time. When they were in government, we saw the damage done.

¶ 04 On the recent “Ditva” cyclone, some claimed that months later people had not been resettled. I represent Kegalle; Aranayake was worst hit. Within three months, about 90% of necessary work in my electorate was completed through the efforts of political authorities, state officials, and volunteers. Compare that to 2016 under the Yahapalana government when people in Aranayake and Meeriabedda remained in tents for over a year and a half.

¶ 05 Our government has allocated an additional Rs. 25 billion across all 25 districts to build a production economy; Rs. 1 billion for Kegalle alone to support self-employment and SMEs via community strength development committees, with grants of Rs. 1.5–2 million, and concessional finance through banks including interest subsidies — up to Rs. 25 million in support facilities and loans at 4% up to Rs. 5 million. We have also preserved over Rs. 1 trillion in domestic cash balances through prudent governance, reduced corruption, and higher remittances. We will enable people to build their own livelihoods rather than remain on handouts.

¶ 06 Thank you.