The Hon. (Mrs.) Saroja Savithri Paulraj - Minister of Women and Child Affairs

¶ 01 Hon. Deputy Chairperson of Committees, today we debate the Bill to establish the Gambling Regulatory Authority, the Regulations under the Public Debt Management Act, No. 33 of 2024, and the Orders under the Foreign Exchange Act, No. 12 of 2017.

¶ 02 We bring this Bill because Sri Lanka has long had gambling, but not a regulatory authority. A country needs laws, rules, regulation and review to protect the public and the economy. People—whether students or others—who become vulnerable through gambling must be protected. We must also prevent hard‑earned money from flowing out of the country.

¶ 03 These three items today—Gambling Regulatory Authority Bill, Public Debt Management Act regulations, and Foreign Exchange Act orders—are about the country’s overall financial management. We have seen how debt has weighed upon our people. We borrowed billions from abroad, yet not enough assets were created. Corruption and misuse occurred, but the burden to repay fell on the public. Therefore, proper financial management is essential. When we borrow, we must comply with rules and be accountable. That is why amendments and new rules under the Public Debt Management Act and the Foreign Exchange Act are necessary.

¶ 04 As we move on a development path, we must repay prior debts by 2028 and become a country capable of meeting obligations. For that, robust financial management is vital. Establishing a Gambling Regulatory Authority is a necessary step; likewise, strengthening public finance discipline and the rule of law under the Foreign Exchange Act will align us with international practice, support borrowing, and ensure repayment capacities. Bringing such Bills is the duty of a responsible government.