The Hon. Sunil Handunnetti - Minister of Industry and Entrepreneurship Development

¶ 01 Hon. Deputy Chairperson, regarding Hon. Namal Rajapaksa’s point: during Covid and the subsequent economic crises, nearly 200,000 initially faced distress. Through loan facilities, this reduced to about 20,000 at risk. With the Finance Ministry and banks, we granted a one-year relief window and asked both banks and borrowers to arrive at mutually agreeable solutions. Some demand blanket write-offs—impossible, as these are depositors’ funds. We seek middle ground acceptable to both sides; if both engage, we can provide relief. Banks are now willing to have structured discussions. Please provide us names where needed; we are ready to mediate. Some groups raise slogans but don’t submit data; we’ve asked them to compile lists—even hosted them at the Ministry—but they haven’t. We remain ready.

¶ 02 Listening to the Opposition today, the subtext is they want us to thank them for not destroying the last remaining bits of the economy. They argue that if they had continued, nothing would remain; therefore credit them that we can now import vehicles. Very well—thank you. But the true thanks go to the people who brought public power to Parliament through Aragalaya—those who ended the destruction.

¶ 03 This is not only about economic indicators. The rule of law and political culture have changed. Under the Construction Industry Development Act, any regulation or direction made by the Minister must be presented to Parliament within six months—this strengthens accountability.

¶ 04 On macro outcomes within six months under our government (which some said would collapse in six months): airport operating profit up 78%; port profits up Rs. 2,441.8 million, a year-on-year increase of 66.7%; FDI USD 507 million, up about 10% over last year; tourism earnings USD 1.7 billion, up 10%; worker remittances USD 3.78 billion, up 18%; Customs revenue up by about Rs. 1 trillion; budget deficit reduced by 32.38% compared to 2024. Exchange rate stabilized; stock market steadily growing; fewer youths now leave, choosing to stay. Construction is reviving alongside the overall economy. As the economy grows, we must align standards and bring in new technologies—hence enabling EVs and needed vehicles.

¶ 05 On “indirect taxes”: such revenue grows when business and industry grow—through airport and port operations, not merely by increasing rates. We have even commenced VAT refunds at the airport for tourists to spur spending on gems and jewelry, increasing domestic commerce.

¶ 06 Law and order: today, both politicians and officials are equally subject to law; the old dual standards are gone. Those guilty of VAT fraud in the past faced action; now no one is exempt. We welcome lawful scrutiny of past construction corruption: Rajapaksa-branded projects, their consultancies and costings must face the law—not for revenge, but for accountability.

¶ 07 We love this country and are rebuilding it unconditionally. Every reform today on vehicles and construction supports the economy’s renewal—not hinders it. Thank you.