The Hon. Wijesiri Basnayake

¶ 01 Hon. Deputy Speaker, we debate regulations and orders under the Colombo Port City Economic Commission Act, No. 11 of 2021. Some ask why we bring these amendments. The original structure made Port City a quasi-extraterritorial enclave not adequately subject to our laws. We are bringing necessary changes to make Port City’s economic activity more effective and accountable.

¶ 02 In the past, under previous administrations, the economy’s largest gains went into certain politicians’ pockets. No Minister or MP showed remorse or accountability when the Central Bank was looted, yet now they ask us to go home.

¶ 03 A recent landmark Supreme Court judgment held former President Gotabaya Rajapaksa, Mahinda Rajapaksa as Finance Minister, Basil Rajapaksa, former Treasury Secretaries P.B. Jayasundera and S.R. Attygalle, and former Central Bank Governors Ajith Nivard Cabraal and W.D. Lakshman responsible for driving the country into bankruptcy. Those who did that now accuse us.

¶ 04 Key to development is FDI. In 2025, investments amounting to Rs. 3,170 billion came to Sri Lanka—a 72 per cent increase over 2024. The Port City regulations we pass today are vital to promote exports, manufacturing and investment. Globally, the economy faces headwinds due to war in the Middle East—higher inflation, fuel and gas prices, and instability harming trade, tourism and logistics. In that context, we proceed.

¶ 05 The Central Bank’s Annual Economic Review presented on April 20 is available to all. It records that 2025 was a decisive inflection point, with real GDP growth of 5 per cent, driven by 7.8 per cent industrial growth, 3.3 per cent services growth and 1.4 per cent agriculture growth. GDP per capita crossed US$5,000, placing us on the path to upper-middle-income status. Inflation was contained at 2.3 per cent. Remittances reached US$8.1 billion; tourist arrivals rose to 2.36 million; reserves to US$6.8 billion. The primary balance reached a surplus of 5.4 per cent of GDP in 2025, up from 2.2 per cent in 2024. These outcomes reflect fiscal and debt sustainability reforms, and we will continue prudent management in 2026.

¶ 06 Recently, under the leadership of Ven. Pannila Ananda Thera, a seven-day, 350-km peace march was held. At its conclusion, President Anura Dissanayake stated Sri Lanka may not become the world’s richest or most technologically advanced, but we can become a nation powerful in humanity. Let us build a country rich in humanity. I request the Opposition’s support.