The Hon. (Dr.) Anil Jayantha – Minister

¶ 01 Within the virement framework, if we make such reallocations, they must be reported within six months from the date the first resolution was made. The resolution was made on 07th July. Counting from 07th July to 07th January 2026 completes six months. Therefore, we have presented that report properly. No issue has arisen.

¶ 02 Also, some technical points are being used to create unnecessary fear, though they are not relevant to today’s debate. A special incident occurred today at the Colombo Stock Exchange. When WealthTrust Securities Limited conducted its IPO, the issue price was set at Rs. 7. In secondary market trading, through a few brokers, transactions appear to have taken place at extremely high prices, around Rs. 25,000. Technically or practically, that should not happen. Since multiple trades occurred at such prices, necessary measures have been taken. The regulator on behalf of the Government is the Securities and Exchange Commission of Sri Lanka. They intervened immediately and temporarily suspended trading of that company’s shares. Proper trading will recommence tomorrow. In addition, investigations are being conducted into why this happened. If anyone has manipulated the market and created a problem, we will take action. We have seen in the past how the CSE was turned into a white-collar playground with pumping-and-dumping strategies that destroyed funds of many state institutions. The very groups connected to those episodes are talking today. We assure investors: there is no need for fear. We will investigate and take appropriate action.

¶ 03 At the same time, as we move forward facing the “8961” cyclone conditions, doubts are being raised about whether our Supplementary Estimate is correct or whether we have sufficient funds. If a disaster has occurred and people have suffered, the first duty is to find immediate solutions—provide shelter if homes are destroyed, ensure food if people cannot access meals. This is not the time to create fear about whether funds will be available next month or next year. We have intervened properly and provided essential services. Beyond that, we have presented a comprehensive programme to rebuild Sri Lanka, to uplift the lives of people affected by the disaster to a better standard. This includes not only housing, but also support for damaged businesses, and assistance for agriculture and plantations—tea, fruit, vegetables, export crops—allocating funds to every such sector. The mechanisms for disbursement are being set out through circulars. Therefore, we have allocated a substantial amount, presenting a Supplementary Estimate of Rs. 500 billion. Our responsibility is to spend these funds properly and restore people’s lives.

¶ 04 Another allegation raised is that the country is in anarchy because an Auditor General has not been appointed. The qualifications for Auditor General require the appointee to be a senior chartered accountant. Even after nominating a qualified person, the Opposition and certain self-styled independent groups rejected it at the Constitutional Council. Despite such obstacles, the President is discharging his responsibilities appropriately.

¶ 05 Order, please! Is the House agreeable to extend today’s sitting hours until the debate concludes?

¶ 06 Hon. Members: Aye.

¶ 07 Hon. Presiding Member: Hon. Minister, please continue your speech.

¶ 08 Hon. Presiding Member, the Opposition is creating fear targeting investors. Everyone knows that as our reconstruction programme advances in an orderly manner, it is anchored in international support, including the IMF programme. That programme sets targets for revenue, debt, debt service, and good governance. We are meeting all of them. Some now claim the IMF did not grant the 6th review. That is not what happened. An unexpected event occurred on 27th November, and as a Government we intervened by bringing a Supplementary Estimate. Under the Public Financial Management Act, annual expenditure is limited to about 13% of GDP for both development and recurrent needs. Without compromising those, we must manage this disaster situation. That is why we acted.

¶ 09 Hon. Presiding Member: Hon. Minister, you have two more minutes.

¶ 10 Good, Hon. Presiding Member.

¶ 11 The relevant resolution exists. Under it we made the allocation, increasing the ceiling to 14.4%. Even so, we are proceeding properly without any action contrary to law or undermining transparency.

¶ 12 Finally, I state that in 2025, across every area—revenue mobilization, governance, external reserves accumulation, exports, tourism income—we are moving ahead surpassing targets. I assure the public and this House that, faced with this challenge, and any challenge greater than this, we will confidently continue our work. In 2026, with the planned capital injections, the expected growth rate will move ahead of current targets. With that confidence, I conclude.

¶ 13 Thank you.

¶ 14 Question put, and agreed to. Bill accordingly read a Second time.

¶ 15 Resolved: That the Bill be referred to a Committee of the whole Parliament. – [The Hon. (Dr.) Anil Jayantha]

¶ 16 Considered in Committee. [THE HON. PRESIDING MEMBER in the Chair.]

¶ 17 Clauses 1 to 18 ordered to stand part of the Bill. Enacting Clause and Title ordered to stand part of the Bill. Bill reported without Amendment.

¶ 18 Hon. (Dr.) Anil Jayantha: Hon. Presiding Member, I move that the Bill be now read a Third time. I also seek leave to correct any typographical, grammatical and numerical errors and for consequential amendments.

¶ 19 Question put, and agreed to. Bill accordingly read the Third time, and passed.

¶ 20 Essential Public Services Act: Resolution

¶ 21 Hon. (Dr.) Anil Jayantha: Hon. Presiding Member, on behalf of the Prime Minister and the Minister of Education, Higher Education and Vocational Education, I move:

¶ 22 “That, in terms of Section 2 of the Essential Public Services Act, No. 61 of 1979, by virtue of the powers vested in the President and as published in Extraordinary Gazette No. 2468/46 dated 28.12.2025 and the Order laid on 06.01.2026, the said Order be approved.”

¶ 23 Question put, and agreed to.