The Hon. (Dr.) Anil Jayantha

¶ 01 Hon. Speaker, with respect to the Opposition Leader’s OQ on debt restructuring, I have already answered on two occasions—regarding the economic crisis and the recent “Dicha” disaster. I will table those two annexures. We accept that there can be certain shortcomings in some restructuring efforts. We have advised both lenders and borrowers, as notified, to go to the banks and engage in discussions. Those who went to the banks and established the required dialogue received the relief; those who did not, did not receive it.

¶ 02 Second, regarding the CESS. It is not an IMF condition nor an agreement. The Government’s objective is to streamline the tax system and ensure fiscal consolidation. In that process, para-tariffs must be phased out. This is not a one-off removal. In line with internationally-accepted standards, we have prepared a framework based on HS codes. In taking these proposals, all industry stakeholders were consulted and their views incorporated.

¶ 03 Also, if we consider the export earnings of MSMEs, their contribution has historically been less than 10% of total export earnings. We are formulating a new strategic plan, which we expect to present within a week or two, to show how to increase export income to 25%. Thank you.