The Hon. Manjula Suraweera Arachchi

¶ 01 Hon. Deputy Speaker, I am pleased to join this debate on the 2024 Mid-Year Fiscal Position Report. In using this source, we see that in assessing the economic context, public finance trends, performance of state-owned enterprises, and foreign financing, there are certain positive signs. We have no political need to hide that. At some level, improvements are visible in certain sectors. As Hon. Lakmali Hemachandra explained, to achieve these improvements, the people — especially the most vulnerable — have made great sacrifices and contributions.

¶ 02 Although the sovereign default occurred within a short period, it was the result of travelling a long time on the wrong economic path. Agriculture, industry, and services collapsed; we have discussed this at length in Parliament. The people bore increased tax burdens and the heavy weight of debt. Massive borrowing built a mountain of debt that was placed on the people. Social protection was inadequate, and the social fabric weakened. Corruption, waste and fraud continued under past rulers, even as the people tightened their belts — like spending hundreds of millions on internal air travel. Because of those arbitrary and failed strategies, the country fell into a frame where we had to seek an IMF programme and operate within constraints.

¶ 03 Now, within a state recovering economically, our President and we in the National People’s Power (NPP) sought a people’s mandate to face these realities successfully. The people placed their trust in us and gave a strong Parliament. The Opposition raises points — that is true — but we are accountable to the people’s mandate and committed to implementing our policy programme without wavering.

¶ 04 Strengthening a productive economy and ensuring social protection to those who need it are key responsibilities of the NPP Government. We will reduce the tax burden to ease the cost of living and create a better life for our people. Though there are some positive signs now, we are bound to do the maximum to deliver a prosperous life to the people.

¶ 05 The NPP’s programme will be implemented through the forthcoming Budget. With proper economic management, over five years, step by step, we will achieve our national rebuilding goals. Rebuilding a broken country requires a sequenced, balanced plan. Already we have resumed fertilizer support to strengthen production. We are enhancing benefits under the Aswasuma social assistance to protect low-income families.

¶ 06 We have reduced VAT on dairy-related products. We are providing the necessary fuel subsidy to fishers to contribute to domestic production. We have prepared a Rs. 6,000 allowance to support schooling for children of low-income families; it is already being delivered. We are also providing a Rs. 3,000 allowance to pensioners. The NPP Government is on a strong path, sustaining people’s lives, with a clear understanding of how to move from macroeconomic stabilization to social development. We have a leadership team capable of this task, working both inside and outside Parliament.

¶ 07 To rebuild, macroeconomic stability is priority number one. Under President Anura Kumara Dissanayake, our Ministers and MPs have taken key measures to keep the dollar around Rs. 280–290, which supports confidence — seen in rising stock market indices, the return of foreign investors, restart of stalled projects, and increased remittances. These are due to completing initial steps towards a stable economy. All sides should consider this objectively. The NPP Government has taken an approach and is moving forward, winning as a country. Let us all look at this path without malice; we assure victories for our nation.

¶ 08 We also need international stability. Previously Sri Lanka was economically blacklisted; now, under our Government, we have organized international relations methodically, building friendly engagements with India, China and others to implement projects and establish strong international political stability. We are doing this to rebuild the country.

¶ 09 Historically, economic crises here ended in political crises. Past rulers fell quickly because they failed to respond to the economic crisis. We know this. But we state with assurance that we will not let today’s economic crisis end in a political crisis. We will maintain governance, build macroeconomic stability, strengthen international political stability, and build people’s political confidence so that we overcome the crisis without political collapse. Therefore, I invite the Opposition and all our people to work together, as children of one mother, to give life back to our motherland and create a prosperous country and better lives. Thank you.