The Hon. (Dr.) Harshana Suriyapperuma - Deputy Minister of Finance and Planning

¶ 01 Hon. Chairman, in the morning also I indicated how the Budget has been structured for its benefits to go down to the citizens of this country. The Hon. Members of the Opposition spoke about how they look at the so-called challenges and I would like to address some of them.

¶ 02 Firstly, the Hon. Ravi Karunanayake made suggestions with regard to the SriLankan Airlines and spoke about how it is currently being managed and the way the Government has allocated billions to settle its debt, which, in his opinion, may not be the right thing to do. Sir, we need to understand that those legacy debts have been incurred over several decades through mismanagement, politicization and without allowing competent people to contribute to the development of those institutions, whereas the present Government has segregated it. The President has very clearly mentioned even during the Budget Speech that there would not be any more funding from the Government for its operational purposes. We can see sparks at the end of the tunnel because of the way the present management is handling that entity, trying to restructure its operations and engaging capable people. And, its debt has to be serviced; that creates confidence that the Government is not abandoning obligations.

¶ 03 Another matter raised was parate execution. Since the current Government took over, we extended the relief package introduced through the banking mechanism for another 12 months. For SMEs who were liable for parate action, we created a structured process, directing them to engage with banks up to 31 March and provided a further 12-month window. We monitor continuously with data from banks and the Central Bank. Although over 20,000 businesses were identified to benefit, by end-February fewer than a thousand had come forward. We have instructed banks to proactively contact clients by letter, phone and through branch networks and we have advertised in Sinhala, Tamil and English media and on social media to improve uptake before the deadline.

¶ 04 On implementation focus, the National Single Window project for exporters and importers is being advanced in close consultation with chambers and business committees, moving beyond rhetoric to rapid execution, with interim facilitation arrangements prepared.

¶ 05 On social protection, we funded significant support for students who lost benefits. Leveraging digitization with private sector and government collaboration, Dialog and MillenniumIT offered at zero cost to enhance the QR system, enabling students to receive Rs. 6,000 for books via bookshops using a QR code. With the Prime Minister and Education Ministry officials, this system is now in the final rollout phase; via a dashboard we can see district-wise beneficiaries, amounts, and participating bookshops. This is a practical step toward a digital economy. Sri Lanka CERT, ICTA and teams delivered from concept to delivery in about six weeks.

¶ 06 On vehicle importation, we are monitoring openings, outflows, revenue, and resolving obstacles via regular reviews. Reserves are steadily improving; the exchange rate remains stable; required vehicles are arriving. Where needed, we issue facilitative gazettes and continuously monitor.

¶ 07 Public investment: Rs. 1.3 trillion is allocated. Our aim is timely disbursement over the next nine months via institutional structures in the Finance, Planning and Economic Development Ministry, including project monitoring and Treasury operations units, to realize next-year benefits.

¶ 08 Thank you.