The Hon. Ravi Karunanayake
Hon. Ravi Karunanayake welcomed the Government’s acknowledgement that all wage demands cannot be met through strikes, but urged stronger action to attract investment, including facilitating investors such as Sinopec and depoliticizing economic policy. He called for youth entrepreneurship, SME-led rice production to reduce imports, and productivity improvements in agriculture, citing lower paddy yields than regional competitors. Referring to IMF comments and the President’s statements on debt-servicing capacity by 2028, he argued that sustained reforms, fiscal discipline, better data, and accountable discretion for officials are necessary to make the current IMF programme Sri Lanka’s last.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Then I will use three more minutes.
¶ 02 I appreciate Minister Nalin Bandara Jayatissa’s candour in saying Government cannot meet all pay demands via strikes. There are fewer strikes now, and fewer processions; yet investments are still not coming at the pace needed. Facilitate Sinopec and others—you cannot refuse everyone.
¶ 03 Minister Lalkantha says all of us must take responsibility for the collapse. Then do not curse the “76-year blight”; instead, de-politicize economics and follow policy. Convert youths into entrepreneurs, not protesters.
¶ 04 On rice: we are still importing; let SMEs produce 4,000 units of 50,000 kg each at a total cost of Rs. 250 billion with facilitation to transform them into investors.
¶ 05 When IMF’s Gita Gopinath visited, the President said “Sri Lanka is on track for debt-servicing capability by 2028”—good. He also said, “We will lay the foundation for self-reflecting economic growth”—good. Dr. Gopinath said: “This time, be different. Let this be the last IMF programme in Sri Lanka.” That means tough decisions now, sustained.
¶ 06 Bankers say a reform agenda is absolutely important—more than stability alone. Productivity must rise: for paddy, yields are 4,500–5,000 kg/ha here vs. 7,500 kg in India/Thailand; a 30–35% productivity gap raises unit costs and erodes profitability.
¶ 07 In closing: the Fiscal Management (Responsibility) framework provides a path, but data discipline and leadership are vital. Do not leave it only to officials. Generals must lead, not soldiers alone. Today’s legal rigidity is stifling discretion; enable officials, but hold them accountable. Let us pursue practical, growth-oriented reforms and move forward together. Thank you.
Provenance
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- Hansard, Monday, 30 June 2025 ·No. 1752037071094166 ·English daily/uncorrected Hansard
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Cite as: The Hon. Ravi Karunanayake. 10th Parliament, Parliament of Sri Lanka. Hansard, 30 June 2025. No. 1752037071094166. Politick, https://staging.politick.io/lk/speeches/28141