The Hon. Ravi Karunanayake

¶ 01 Hon. Deputy Chairperson of Committees, I move the following motion:

¶ 02 “This Parliament resolves that every youth completing 18 years of age should have the right to be gainfully employed, and if not employed, should be provided financial assistance to become a self-employed entrepreneur.”

¶ 03 I present this for the future of our youth. Today, about 6 to 7 percent of those aged 18 are unemployed. We must secure their future.

¶ 04 Sri Lanka has an ageing population, yet among our youth there is frustration and disillusionment. Out of a population of 22.7 million, 1.8 million are aged 15-19, 1.7 million are 20-24, and 3.5 million are 15-24. If we consider 15-29, about 5.1 million. Compared internationally, our youth share is 45 percent against India, 39 percent against China, 47 percent against Indonesia.

¶ 05 [Interruption.]

¶ 06 Young at heart—indeed! Even at 60 plus, we can be young.

¶ 07 Beyond that, since I have three children, I know these concerns. We must treat this as investment. Our workforce in 2020-2024 is about 8.9 million; 1.6 million are in the public sector, the rest private, with around 65 percent self-sustaining in the private sector. But support to them is minimal. We are emerging from bankruptcy.

¶ 08 I cite the IMF Resident Representative Geetha Gopinath’s team’s warning as reported in Ceylon Today on 4 July 2025: “Debt stable but fiscal risks persist.” We must not rely solely on others; we must move forward on our own strength.

¶ 09 Since 1948 independence, do we have true economic freedom? In 1952 there was unrest; in 1972 youth discontent; in 1978 we slid into a 30-year conflict; 1989-1991 another youth upheaval. We must end this 70-year curse and secure the future of our youth.

¶ 10 Countries like Singapore rely on AI and innovation. Closer to us, Malaysia, Indonesia, Thailand, Japan have proactive policies. We need radical change, not business-as-usual. We need creative, innovation-driven programmes—AI, e-commerce—embedded in our development.

¶ 11 Ask ten youths today whether they want job security or a Rs. 3,000-4,000 allowance to stay home; many may choose the latter. That mindset must change. Many go to the Middle East for Rs. 60,000-70,000 salaries here but can earn much more abroad by working hard. We must instill a work ethic and opportunity.

¶ 12 As Wasana and welfare have expanded, beneficiary families rose from 1.7 million in 2023 to 2.4 million and may reach three million. Instead of passive grants, require community service via local authorities to create value and inculcate dignity of work.

¶ 13 To start a small business requires about Rs. 500,000, yet banks demand Rs. 1 million in assets for a Rs. 500,000 loan. E-commerce is taxed at 18 percent VAT; this risks diverting activity to foreign accounts. The Central Bank constrains credit growth; we need a better capital-output framework. Graduates should not depend on Government jobs; create an enabling environment. We spend Rs. 1.5 trillion on public sector salaries—about 69 percent of revenue—plus pensions. What about the remaining seven million in the workforce? We must create one million young entrepreneurs.

¶ 14 [Time called.]

¶ 15 May I have two more minutes; I will adjust my next speech.

¶ 16 With Rs. 500,000 seed capital per youth, costing about Rs. 100 billion initially, we can scale as needed. The Central Bank can provide specific funding windows for youth, women, and MSMEs.

¶ 17 Set a minimum salary of USD 350-400 for overseas workers so their families can live decently, and upscale skills with English. Send trained nurses and technicians, not just unskilled labour, by opening university pathways. I commend the KDU-related decisions that expanded capacity.

¶ 18 Develop new entrepreneurs in renewable energy—make them 16- to 10-tariff champions who can feed into the grid. Exempt the first Rs. 200,000-400,000 earned via global e-commerce by youth from tax to incentivize take-off. Strengthen universities and offer budget-backed loans for those who qualify but cannot enter State universities to attend accredited non-State universities.

¶ 19 Thank you for the opportunity.