The Hon. Mujibur Rahuman
Mujibur Rahuman challenged the Government’s claim that there was no economic crisis, citing a widening gap between official and street dollar rates, bank rate volatility, dollar shortages, and rising import and essential-goods prices including milk powder. He alleged that vehicle importers with advance knowledge benefited from the 16 May levy regulation through large numbers of LCs opened just before its imposition, and called for equal application of rules to all importers. He also disputed the Government’s cost-of-living figures, arguing they reflect an extreme poverty food line rather than actual household needs, and sought clarity on promised diaspora dollar inflows and related allegations. He urged the Government to acknowledge worsening conditions and take decisive action to address exchange-rate pressure and rising living costs.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Deputy Speaker, the Deputy Minister of Finance claims there is no crisis and everything is fine. Officially the dollar is around Rs. 346–348, but on the street it is about Rs. 355. Rates change hourly across banks; DFCC, BOC, HNB, Commercial Bank — not by a few cents, but by Rs. 2–3 within hours. That is a crisis. There is a shortage of dollars in the market, pushing the rate up. Import prices have risen; milk powder per kilo has been increased by Rs. 125 — now Rs. 3,000 per kg; 400 g up by Rs. 50 — and many other imports are up. People are struggling, yet the Government says there is no crisis.
¶ 02 On vehicles, on 16 May the President imposed a levy via regulation. On 15 May, 1,782 vehicle LCs were opened in a single day — brand new units. Who knew in advance to rush LCs? Names cited include those close to the President. This smacks of organized advantage-taking. The Minister denied 4,000 vehicles; take the full last week of May — LCs for about 4,000 vehicles were opened. If law is equal, used vehicle importers face strict chassis-level LC and compliance, while big players seemingly do not.
¶ 03 On the cost of living, the Deputy Minister said one person can live on Rs. 16,571 a month — a figure that corresponds to the extreme poverty food line, not a normal person’s needs. By World Bank metrics (US$ 4.65/day), a person needs roughly Rs. 40,950 per month. Daily basics — tea, breakfast, a simple lunch — already exceed the daily equivalent of Rs. 16,571/30 ≈ Rs. 550. Haircuts, utilities — all have risen after electricity hikes. Families cannot live on such amounts; a family of four needs around Rs. 163,000.
¶ 04 The Government previously claimed diaspora mechanisms would bring in dollars — where are they now? Meanwhile, allegations about promised large inflows and subsequent “hacking” incidents have surfaced; the public deserves clarity on these claims.
¶ 05 The Central Bank is not releasing dollars; market scarcity is pushing the rate up, reportedly due to IMF programme constraints. Prices of essentials are rising rapidly; rice, too, can rise. Control measures are failing. I urge the Government to acknowledge the deterioration and act decisively.
¶ 06 Thank you.
Provenance
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- Hansard, Thursday, 21 May 2026 ·No. 23621 ·English daily/uncorrected Hansard
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Cite as: The Hon. Mujibur Rahuman. 10th Parliament, Parliament of Sri Lanka. Hansard, 21 May 2026. No. 23621. Politick, https://staging.politick.io/lk/speeches/7347