10th Parliament· 154 sittings on record · 30,475 speeches · latest 10 June 2026

The Hon. Ravi Karunanayake

New Democratic Front· National List· 19 February 2026 ·Procedural: Statement and Procedural: Legal Basis of Financial Bankruptcy Declaration and Standing Order Debate

Public FinanceParliamentary Procedure
AI summary generated by gpt-5.5

Hon. Ravi Karunanayake questioned the Government’s handling of IMF discussions and debt policy, asking why the visiting IMF Managing Director was not requested to raise the PAYE threshold, reduce the 30 per cent tax rate, or secure softer and longer debt repayment terms. He argued that Parliament’s approval is required for any debt standstill or declaration of bankruptcy and called for a separate debate on whether such actions violated Articles 148, 149 and 150 of the Constitution.

Verbatim record (translated)

Machine-translated from Sinhala / Tamil / English

¶ 01 Therefore, please answer my questions precisely. You did not mention the name of the President. How do we proceed in this House on such matters?

¶ 02 Further, yesterday the Managing Director of the IMF visited Sri Lanka. We have not received additional funds for the damage caused by Cyclone “Ditwah”. We have not received longer debt repayment periods. Investment capacity has not improved. We do not need to play politics here. During Ranil Wickremesinghe’s period, all necessary approvals were given to move the economy forward. My question is this: we want to move the economy forward. Since you say this problem was not created by you, I ask:

¶ 03 Why did you not request the IMF MD yesterday to raise the PAYE threshold from Rs. 150,000 to Rs. 250,000? Why did you not ask to reduce the 30 per cent tax to 20 per cent? Why did you not ask for a longer and softer path for debt repayment than the current terms? None of this has been done. She only said that we should further increase our foreign reserves.

¶ 04 Hon. Speaker, I earnestly ask this: do not make this a joke when asked here. Without Parliament’s approval, a debt standstill cannot be done. Even if the Governor of the Central Bank said so, if it is wrong, it must be corrected. Why do we allow casual finger-pointing at Parliament’s responsibilities? I am surprised that a knowledgeable Minister gives such an Answer. We need a separate debate on the declaration that this country was bankrupt without Parliament’s approval. I ask the Minister: according to your Answer, are we allowing the violation of Articles 148, 149 and 150 of the Constitution?

Provenance

Source
Hansard, Thursday, 19 February 2026 ·No. 23328 ·English daily/uncorrected Hansard
Page · column
not yet extracted — page/column anchors are not in the current dataset; the source PDF is the citable location.
Permalink
/lk/speeches/30322

Cite as: The Hon. Ravi Karunanayake. 10th Parliament, Parliament of Sri Lanka. Hansard, 19 February 2026. No. 23328. Politick, https://staging.politick.io/lk/speeches/30322