The Hon. Arkam Ilyas

¶ 01 Hon. Presiding Member, today we discuss several regulations and orders under special Acts, mostly made by the previous Government, now brought for Parliament’s approval. Some address burning national issues. As the NPP, we always seek sustainable solutions. The Colombo Port City is such a project: 269 hectares reclaimed at great cost in Colombo’s heart. Yet we have not derived economic benefit; investor attraction is slow. We hope to find many answers through these measures.

¶ 02 We boast that foreign exchange inflows largely come from migrant workers, whom we metaphorically place on a moringa branch—but as a nation that is shameful. Last year, 312,836 people migrated for employment—the highest number—185,000 men and 127,000 women, most women to domestic work in the Middle East. Over-reliance on remittances is shameful. Most who migrate are youth, driven by unemployment: overall 6 percent, but 25 percent among youth—one in four youths jobless. Only about 50 percent enter A/L; only about 13 percent enter university; if that 13 percent also face unemployment, what of the remaining 87 percent? Even in top professions like medicine or engineering, salaries are insufficient for daily life. Many cannot find jobs or earn enough, pushing record brain drain in recent years. Our best human and intellectual capital now reside abroad, many becoming citizens elsewhere without remitting FX. This will severely affect future economic expansion, projects, and job creation due to a skills vacuum. Laws alone cannot change this; only by improving the economy can we retain skilled people.

¶ 03 As the NPP, we plan to commence beneficial investments under a proper national plan and oversight—not for cronies, but for the people’s development. Our policies will be research-based with quality assurance. A good example: our proposal to develop the Southern coastal belt into a planned tourism model city with full facilities, identifying many sites for enhanced attraction and investment opportunities. With structured short- and long-term targets, we can move beyond the current debt-driven economy, reduce unemployment and frustration, and deliver a more vibrant, prosperous country and beautiful life. The regulations under the Port City Commission Act should help.

¶ 04 The construction sector collapsed in recent years; we expect revival through these measures. Many of the orders facilitate vertical construction, restoring many lost jobs and other benefits—bringing back capital, accelerating growth, introducing advanced technologies and infrastructure, and gaining international urban planning experience—positioning Sri Lanka like Dubai or Singapore as a regional hub, and improving ease of doing business. On the Ease of Doing Business Index (out of 190), Sri Lanka is 99th, while China ~31st, Thailand ~21st, Malaysia 12th, Singapore 2nd, and India ahead of us. Through these legal changes we aim to make starting a business easier.

¶ 05 However, we acknowledge challenges: national and foreign influence risks, unequal distribution of economic benefits, environmental impacts—especially on marine ecosystems and fisheries—effects on tax revenues due to proposed 100 percent tax relaxations on certain foreign-sourced income, 25-year tax holidays for strategically important enterprises, and 50 percent relief for 10 years. This could impact domestic FX-earning firms. We must take carefully considered decisions to minimize harm to local businesses, prevent money laundering, and avoid high long-term maintenance costs if success is not achieved. With full government oversight, we will expand the economy, build a South Asian financial hub without compromising sovereignty, and share benefits equitably while safeguarding national security.

¶ 06 Hon. Presiding Member, I also wish to clarify that the shortage of red raw rice in the South was not caused by us but by environmental and climatic shifts and inadequacies in irrigation systems. In Matara and Galle, 30,000–40,000 acres have been left fallow for years, especially in recent seasons. An expert team is examining how to implement proper cultivation planning. From the next season, we will undertake a major programme so that there is no shortage of red raw rice in the South. Thank you.