The Hon. Amila Prasad

¶ 01 Hon. Presiding Member, thank you for the opportunity. This Bill creates a supportive environment for those who work and provide work. It has been in preparation for years to protect entrepreneurs and, I learned today, much groundwork was done under the previous government—thanks to Mr. Chanaka de Silva and team.

¶ 02 However, this Government has been in office about a year and a half—why the delay in tabling a completed Bill? During that delay, many MSME assets were seized by banks and livelihoods lost. If the Government has added amendments, please clarify them. In Sri Lanka, when a business fails, banks seize and sell collateral without sharing risk; yet state banks boast record profits. Those profits often come from aggregating and selling entrepreneurs’ collateral, forcing them out. Beyond passing this law, the Government must ensure practical implementation with necessary permissions and guidance.

¶ 03 I met a hire-car driver who previously ran a garment factory employing about 20. Due to the crisis, he closed and now earns Rs. 6,000–7,000 per day driving, but his 20–30 employees lost jobs. Earlier passage of this Bill could have saved such businesses.

¶ 04 I also support extending the bank negotiation window from 60 to 180 days, as suggested in Committee—reviving a failed business is complex and needs time; a longer, structured out-of-court process is better than multiple court rounds.

¶ 05 On Colombo Port City: it is a valuable national asset to attract investment. But we have seen sham companies registering and obtaining business visas, with large numbers of foreign nationals allegedly engaging in cybercrimes from Sri Lanka. We must not allow the country to become a safe haven for cybercriminals. The concerned Ministries must scrutinize registrations, visas, and tax remittances, and conduct ex‑post reviews to prevent abuse.