The Hon. (Prof.) Anil Jayantha - Minister of Labour and Deputy Minister of Economic Development

¶ 01 Thank you, Hon. Presiding Member. Energy is vital to the economy, national security, and this Budget’s vision. I will also respond to Opposition points on Adani and fuel pricing.

¶ 02 On Adani: the Opposition’s own narrative contradicts itself — did we suspend Adani, did investors flee, or did Adani pull back? The truth: we are broadening investment in all sectors, including energy, but what matters is not the investor’s name or the dollar amount; it is the sustainability and price of energy. Before we took office, a 20-year PPA had been agreed at 8.26 US cents/kWh — relatively high. On a visit to India prior to our Government, we asked what Adani charges Indian DISCOMs: 3.5 US cents. Why then 8.26 cents to us? They cited “risk.” We therefore referred the deal for Cabinet review to examine how such a price was set; we did not “kick them out.” The field remains open and transparent for any investor.

¶ 03 On fuel: the claim that we are charging Rs. 10 above formula is false. We follow the formula; the January value produced Rs. 308.89 for petrol, rounded to Rs. 309. To say we overcharge misleads the public.

¶ 04 On alleged corruption: if you have real, authenticated evidence, file complaints — we are ready to investigate. Do not read unverified media snippets in the House.

¶ 05 Energy policy: we studied the 2019 National Energy Policy and global trends, and we are bringing a Results Delivery Framework for 2025–2026. Rather than merely updating the Gazetted policy, we are formulating a forward-looking Energy Transition Act in 2025, treating energy as a whole-of-sector framework, not just electricity. The Act will coordinate stakeholders under a legal architecture.

¶ 06 On the Electricity Act: there is no clash between the President’s views and the Finance Ministry’s committee. A balanced approach has been formulated, aligning with our three strategic pillars: - Affordable, secure, cleaner energy supply - Smart, sensible, people-centric energy - Strategic global integration of the energy sector

¶ 07 We aim to reduce average system costs progressively — you cannot slash prices overnight due to resource mix complexities, but within two to three years we target a one‑third reduction in energy costs through a sustainable mix, moving towards 70 percent renewables and net-zero by 2050. We will digitalize procurement, payments, and resource management; address land-use constraints via a National Land Utilization approach with the National Physical Planning Department; establish a State Agency for Green Hydrogen; and set up a National Energy Policy Planning Office by mid‑year. ESG (Environment, Sustainability, Governance) will frame sector decisions.

¶ 08 We will proceed methodically to secure affordable, clean, and reliable energy for Sri Lanka.