The Hon. Nalin Bandara Jayamaha

¶ 01 Briefly, you have kept “planting yams” with your mouths for more than a year and a half; yet no harvest—only more talk.

¶ 02 The decision compelling exporters to convert dollars held abroad within 30 days signals to the market that there is a dollar crisis. That message itself is dangerous. Recently the dollar rose to Rs. 350-358. Instead of encouraging exporters, you are binding them with more regulations and attempting to manage the economy by constraining their businesses.

¶ 03 From my area, many in the coconut value-added sector—coconut milk, coconut water, virgin oil, desiccated coconut and other derivatives—earn significant dollars. They brought about USD 400 million in the first quarter alone. Now, imposing large duties on imported edible oils and substitutes threatens their competitiveness. Previously, Special Commodity Levy (SCL) was Rs. 150/kg on palm oil and coconut oil; now VAT and SCL together push duties to about Rs. 350/kg. This will seriously affect those adding value to coconut products and their ability to compete internationally. Are these decisions aimed at growing dollar inflows—or choking them?

¶ 04 From 1 July, another heavy blow to SMEs and traders: the VAT registration threshold is being reduced from an annual turnover of Rs. 60 million to Rs. 36 million. Under President Ranil Wickremesinghe, the threshold was Rs. 60 million; this Government is cutting it to Rs. 36 million. On July 1st, you will thrust a “VAT bottle” into the hands of perhaps 200,000–250,000 small and medium businesspeople. With higher electricity bills, a weaker rupee, and reduced consumer buying power, many businesses are already struggling. This punitive move will destroy jobs and businesses, worsening the economy. Most of these entrepreneurs supported you in the last election; now they face ruin.

¶ 05 A thriving business class is essential. Government policy should empower them, not cripple them. Even at the peak of crisis under Ranil, the VAT threshold remained Rs. 60 million; you now slash it to Rs. 36 million, targeting almost all SMEs.

¶ 06 Please immediately halt this threshold reduction. Protect the struggling business community—practical engagement is needed, not mere rhetoric. I also note that in many electorates there are not even basic public days or offices for people to air grievances; yet you boast of governance.

¶ 07 Thank you, Hon. Presiding Member.