The Hon. Ravi Karunanayake

¶ 01 Hon. Presiding Member, I am pleased to speak after Minister Wasantha Samarasinghe.

¶ 02 This is what system change looks like. The United National Party’s system is now being followed and even improved by you—we appreciate that. This is progress. We accept it gladly. The rice issue then is the same now—no problem. Those days you claimed there were “commissions”; now you are importing too, and we do not object.

¶ 03 On Mahapola stipends: I hear three months are unpaid. Please check. The Minister says February was paid and March is being processed. Verify, because students report delays.

¶ 04 A World Bank report says Sri Lanka’s electricity tariffs in Asia rose 33 percent; youth unemployment is high. Do not simply absorb everything from international institutions; chart an approach that grows our economy via open markets while protecting people.

¶ 05 When in Opposition, promises are easy; in government, implementation is hard. Some of what you do now is better than before—we acknowledge. But we need a plan to increase investment and growth. The IMF tells you to raise revenue; domestically, the Central Bank hikes interest rates. Who then speaks for growth? We need investment, jobs, and more SMEs.

¶ 06 On privatization: the Attorney General has informed the Supreme Court that SriLankan Airlines, Sri Lanka Telecom, Sri Lanka Insurance Corporation, and Lanka Hospitals will not be privatized. Yet the IMF suggests commercialization. Do not zigzag—have a clear policy.

¶ 07 On cost of living: the President discussed it yesterday, but only a segment is targeted for relief. In a country of about 22 million, you cover about 6 million; others also face rising medicine, electricity, water, transport, and rent. Through Sathosa’s 653 outlets you announced up to 40 percent discounts. If possible, ensure it translates to real consumer benefit and does not later become a loss story. Relief should reach all communities celebrating the New Year, not only Aswesuma households.

¶ 08 On rice imports: on 18 December 2025, you said not a single grain would be imported, yet now you import Keeri Samba substitutes. We understand the need, but plan earlier, considering climatology and the Middle East.

¶ 09 Point of order exchanges aside, I note that previous ministers faced similar issues during wars in Ukraine, Iran, and Iraq. Do not simply accuse politicians; today you too blame public officials. QR code distribution was mocked then, but later praised as a solution. You criticized previous rice imports; you have now imported five consignments.

¶ 10 On higher education: 281,000 sat A/L; 176,000 qualified; only 56,000 university seats. That leaves 120,000 without places. Enable private universities, as JR Jayewardene’s NCMC model did—produce 5,000 doctors a year, save foreign exchange, create jobs, and even export professionals. With Rs. 35 billion annually you can yield returns greater than ad hoc reliefs.

¶ 11 On credit creation: last year Rs. 2,600 billion was created—63 percent via banks, 22 percent via non-banks. Much of it flows to leasing (Rs. 2,000 billion), pawning (Rs. 356 billion), and short-term credit (Rs. 240 billion), not to productive investments. Only Rs. 434 billion is long-term project credit. We must reorient finance toward growth.

¶ 12 Time is up? Let me conclude: Create conditions for investment and job creation; otherwise we face serious difficulty. The government must own the growth responsibility; otherwise, under the Public Financial Management Act, progress will stall.

¶ 13 Regarding NDB’s accounts, reported profits rose from Rs. 3,100 million (2023) to Rs. 12,100 million (2024). Under Section 80(2) of the Monetary Law, why can’t the Central Bank’s Supervision Department ensure funds raised are used properly? Funds of Rs. 12.8 billion have gone out; ordinary citizens face heavy scrutiny for small remittances, but large sums move freely. Strengthen internal control, audit, and rotation to protect the system. Thank you.