The Hon. S.M. Marikkar

¶ 01 Hon. Deputy Chair, from Hon. Sunil Handunnetti’s opening, one might think this FSS is an initiative unique to this Government. In fact, presenting the FSS is required under Section 11 of the Public Financial Management Act, No. 44 of 2024. Presenting it is good—I do not oppose that. The Government has made certain sacrifices; we acknowledge them. But the FSS is a policy statement; it does not show how targets will be achieved.

¶ 02 It is now nine months since the President assumed office and seven-and-a-half months for this Government. According to the Sri Lanka Development Update, 33% of the population are below the poverty line. What is the time-bound plan to lift them? Also, a 2023 household survey shows household expenses rose by 91.1%. While we may not fully reverse it, how and when will it be contained? The State Minister of Economic Development should answer.

¶ 03 Further, 15.1% of business operators have lost jobs. What steps will the Government take, and when? Also, from tonight, the parate law is to be reactivated. What is the alternative relief for the SME sector?

¶ 04 Our debt burden has increased by 22%. How will you reduce it, with what steps and timeline? 31% of those in debt are now trapped by pawning their family jewelry due to the crisis; only 8.7% owe to formal financial institutions. The FSS should address these, with clear measures and timelines. This is not mere criticism; these are issues to be addressed.

¶ 05 The Department of Census and Statistics says a person’s monthly expenditure is Rs. 16,207; for a family of four, Rs. 64,000–65,000. How many families earn that? What relief will the Government provide to those who do not?

¶ 06 Some mocked Hon. Handunnetti’s English online. English is a language, not knowledge. If he conveyed substance, that is what matters. He presented slides on the country; minor pronunciation issues are not the point. But criticism arose because you claimed to know everything. Therefore, provide numbers and timelines in this FSS.

¶ 07 Colombo residents suffer the most—unlike rural areas where some homegrown food exists, in Colombo everything from salt upwards must be bought. Use the same zeal with which you sought control of the CMC to relieve the urban public’s burden.

¶ 08 On electricity, today’s Supreme Court Determination is out. The Minister criticizes letters from WB/ADB to the Sectoral Oversight Committee. But that is where Committee Stage Amendments arise; how can he fault them for giving inputs? The Government that promised a 30% cut in electricity tariffs has not reduced them; instead, increased them—and now attacks the Committee.

¶ 09 Further, due to delays in granting approval for the FAO research vessel “Dr. Fridtjof Nansen” to enter Sri Lanka, this “efficient” Government has incurred a USD 1 million penalty. These are not discussed.

¶ 10 You say we will exit the IMF in 2028. Then specify the targets to enhance debt-servicing capacity. “We will raise revenue” is not enough—how? What FDI levels? How much in remittances? What new revenue streams? How much added production capacity? How many jobs? Give targets; then the public—and we—can accept. The FSS has guidelines but no targets, no methods, and no next steps if targets are missed.

¶ 11 Even this year, to bridge the budget deficit, we must borrow USD 7.3 billion. In 70 years, total external borrowing was USD 95 billion. If revenue targets fall short, borrowing will exceed USD 7.3 billion. Clarify these targets.

¶ 12 Finally, from July 1, will senior citizens receive the additional 3% on fixed deposits promised? There is a sense that State banks are reluctant. Please clarify. Take these points positively. Thank you.