The Hon. Kaveenthiran Kodeeswaran

¶ 01 Sir, I have nine minutes.

¶ 02 Hon. Deputy Speaker, thank you for the opportunity to speak on the 2024 Mid-Year Fiscal Position. We all share the duty to rebuild Sri Lanka. The economy is severely weakened due to poor international relations and lack of sound investment planning, pushing us to default. The 2024 report shows GDP growth around 5 per cent; agriculture grows 1.4 per cent; industrial growth 11.4 per cent; services 2.6 per cent; inflation about 0.5 per cent; food inflation 3.3 per cent; exports up 6.1 per cent; tourism revenue up 66.1 per cent with arrivals up 50 per cent; public financial management at 41.6 per cent. Some indicators are positive, others negative, showing instability rather than strength. Therefore, policymakers and the present administration must craft a robust economic policy and manage scarce resources with proper guidance to rebuild.

¶ 03 Even with 1.4 per cent agricultural growth, we are importing rice — a tragic state for an agricultural nation. Other countries expand production with technology, but Sri Lanka fails to adopt and fund the right programmes, so we must extend our hand abroad even for food. Yet we possess immense potential: fertile land and vast marine resources around us. We are not using them properly.

¶ 04 Six months ago, under the UN’s International Seabed Authority headquartered in Jamaica, surveys revealed that seabed 1,050 km off Sri Lanka contains valuable resources — rare and high-value minerals like uranium and lithium — within Sri Lanka’s area. Other regional and global powers are studying these zones. If we use this resource properly, Sri Lanka can become wealthy. These deposits — also 1,375 km from Maldives and 1,600 km from India — cover roughly 165 square kilometres. Many countries attempt to exploit them. The Authority called for applications, but identified this as belonging to Sri Lanka. If we use such resources properly, we can secure the economic means and wealth we need; additional marine resources also surround us.

¶ 05 We must also manage agriculture properly. Human–elephant conflict devastates farmers’ livelihoods, especially in Ampara. Elephant fences are delayed and poorly maintained; the Wildlife Department has only four officers for a huge range. Increase staffing and construct dedicated fences for affected villages — for example, Panangadu, Alayadiwembu, Kannakipuram, Puliyampattrai under Addalaichenai DS, and Komari, Ureni under Pottuvil DS — to protect livelihoods. Otherwise, people lose farming and income, pushing the country deeper into crisis. If we utilize resources correctly, we can reach the top economically. Thank you.