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

¶ 01 Hon. Presiding Member, we are debating a Supplementary Estimate for the Ministry of Transport, Highways, Ports and Civil Aviation. Some in the Opposition misinterpret this. A supplementary estimate can either add extra funds with Parliament’s approval or seek Parliament’s sanction to shift savings between heads where Financial Regulation 66 prevents technical virement. Today, we are not seeking additional funds; we are reallocating savings within the Ministry due to reasons beyond our control—such as unresolved issues with lending agencies, contractor disputes, or lower-than-expected final bills—resulting in savings we now wish to manage swiftly, to channel about Rs. 36 billion to priority activities.

¶ 02 Contrary to claims, we have not taken extra money beyond the Budget. Regarding the 2026 Appropriation Bill, some have wrongly compared the President’s Head across years. For 2025, the Appropriation Bill initially provided Rs. 2.9 billion, later increased by Budget proposals to Rs. 9 billion. For 2026, Rs. 11.385 billion is allocated—a Rs. 2.365 billion increase. In 2024, the previous team initially set Rs. 6.6 billion, later increased massively, including new development projects, and even drew Rs. 8.75 billion via a Supplementary Estimate—true instances of misuse then. Under our Government, no such misuse occurs; comparisons must be proper.

¶ 03 On debt: we never said do not borrow; we said do not borrow wrongly. We support highways and major projects, but oppose leveraging state power for private benefit. Now myths are being spread that debt has risen under us. In fact, we are managing within a framework to bring debt below 95% of GDP, and have reduced it below 90% through management.

¶ 04 On the central expressway contractor-related payments tied to this Supplementary Estimate, we had two options: abandon or proceed. We decided to accelerate and complete the route this year. On Exim Bank-related discussions, the State Debt Management Office recorded that the lender would not go to a fixed rate. We have structured our side with a minimum 2.5% and maximum 3.5% margin; with the lender’s current variability around 3.5%, we target an effective 2.7%. We are managing risks prudently to pull the country out of crisis. International confidence is rising: IMF and World Bank have upgraded 2025 growth forecasts from 3.5% earlier to 4.6% in October. Our actions are building trust. Let us work together to rebuild the country. Thank you.