The Hon. Kumara Jayakody - Minister of Energy

¶ 01 Hon. Deputy Chairperson of Committees, at this time, it appears only about two Opposition Members are present; perhaps they are that keen. In my view, they do not have much left to say about the Budget, so they focus on topics like security to avoid addressing the substantive proposals.

¶ 02 The 2025 Budget’s foundational principles emphasize growth in industry, services, and agriculture, realized through active public participation so that benefits are shared equitably. We prioritize developing our human resources, knowledge, and modernization. That includes providing education equipped with new technology and knowledge, building a healthy populace capable of productive work, instituting a land policy with high utility, an efficient import-export regime, a digital finance system, an efficient transport system, and affordable, secure energy for the public and industries. We have proposed measures and allocated significant funds accordingly to drive productivity and development.

¶ 03 We intend to employ the many professionals produced through free education and funded by taxpayers for the country’s development. Recently, many such professionals have left the country. For example, around 200 engineers have resigned from institutions under my Ministry. The economic downturn and high taxes on professionals severely impacted these institutions. Through this Budget, we have given significant basic-salary increases to public and private sector employees and addressed tax thresholds to stem brain drain. We ask all professionals to join us to rebuild the nation with your knowledge and experience. Without them, we cannot develop. This Budget is therefore people-centered and progressive.

¶ 04 Sri Lanka needs efficient public transport for people and goods. It is a key element of economic growth. We have allocated significant funds to modernize key corridors with 100 low-floor buses across three main corridors in Colombo, under a newly established bus company offering a specialized service.

¶ 05 Rail is essential to solve transport issues. This Budget focuses on rail line construction and upgrading, local coach production, and introducing several electric trains around Colombo. We aim to modernize rail to attract passengers. No developed country relies solely on buses; rail plays a central role. We have allocated Rs. 1,000 million this year for rail.

¶ 06 We import many goods. To truly develop, we must produce domestically what we can. Otherwise we face forex issues and stagnant production. We will expand production and limit imports. As a major step, we will establish an industrial zone dedicated to motor vehicles and rubber-based products with an allocation of Rs. 1,500 million. As a natural rubber producer, Sri Lanka can secure better prices and develop value-added products rather than exporting raw materials. We will focus on importing only essentials.

¶ 07 In the energy sector, Rs. 21,140 million is allocated. Rs. 7,670 million is for enhancing national transmission and distribution networks. We will establish a waste-to-energy plant targeting Colombo’s solid waste with Rs. 1,200 million; provide solar kits for government buildings, low-income housing, religious places, and water purification plants with Rs. 290 million; install renewable systems for Delft, Analaithivu, and Nainativu islands in the North with Rs. 3,000 million; and allocate Rs. 290 million to increase CEB capacity.

¶ 08 As outlined in the NPP policy statement, we will prepare for nuclear power generation over about 15 years. Accordingly, Rs. 160 million is allocated to expand the capacity of the Sri Lanka Atomic Energy Board, and Rs. 7,000 million for a second transmission line between Kerawalapitiya and the Port of Colombo.

¶ 09 Through this Budget, we expect to develop human resources, health, and education so our industries and enterprises obtain skilled professionals. This first year lays the foundation; thereafter we can advance larger development projects. Many professionals have emigrated, creating shortages; thus this Budget prioritizes those areas, increasing salaries and adjusting tax levels, and providing necessary facilities. With this we can boost production and industrial growth. Energy will be developed as a supportive industry to the broader production focus. Beyond Budget allocations, we are pursuing donor and grant support; several initiatives have already begun.

¶ 10 We aim to implement our policy compendium with a strong foundation. We are not receiving constructive criticism from the Opposition; instead, they dredge up the past. Perhaps they find it difficult to offer substantive critique, which is why many have gone quiet. We have already reduced corruption and waste to provide relief and fund development. Within three months we have set the pathway; further implementation plans are underway. We ask the public to entrust local government to the NPP in the upcoming elections so we can deliver the economic, social, and cultural renaissance envisaged. Thank you.