The Hon. R.M. Jayawardhana - Deputy Minister of Trade, Commerce and Food Security

¶ 01 Hon. Deputy Speaker, today we discuss an Order and Regulations under several Acts. The Deputy Minister explained clearly why these are brought—after many years, needed updates are before Parliament.

¶ 02 A country needs laws and regulations to function in an orderly manner. For years, amendments sat in Parliament without being finalized. We must ensure that laws are updated appropriately.

¶ 03 Regarding the Order under the Stamp Duty (Special Provisions) Act, stamp duties are a revenue source for Provincial Councils. Such rates should be revised periodically—every 10–15 years. Charging 1 per cent at Rs. 5,000 and also 1 per cent at Rs. 50,000 without review is not progressive. Likewise, rent laws and other thresholds set decades ago do not reflect current incomes. Even if stamp duty does not bring massive revenue, it gives provinces some additional resources.

¶ 04 On electric bicycles and similar items, earlier there were restrictions. We are now easing certain constraints pragmatically; this will not create a massive outflow of dollars. Vehicle imports have cautiously resumed without triggering a dollar crisis. As the economy stabilizes, economic activity strengthens. Some say the economy is reversing; however, the public and business community see improvement, which is why many investors are keen on Sri Lanka—seen even in districts like Monaragala, with interest in agriculture and tourism.

¶ 05 We need to broaden the economy and amend laws to support that. On local authorities, the Opposition claims big gains. In reality, we initially formed majorities in 151 of about 300 bodies, and more since then. Their “century” claim is premature.

¶ 06 We remain firm on acting against corruption, including past allegations. Our stance has not changed. Simultaneously, we are updating outdated laws—some dating back to the 1800s—to align with today’s economic plans. That is why these amendments are before the House. Thank you.