2020-12-07
News Categories : Committee News
Hon. Prime Minister Mahinda Rajapaksa said today (07) that the new project 'Wada Samaga Yali Gamata', which identifies the real needs and priorities of the country's rural people will be launched on the 14th December 2020.
The Prime Minister, while presiding the Consultative Committee of the Ministry of Finance, emphasized that the political authorities should identify the real needs of the people in the rural and semi-urban areas and launch the project.
Prime Minister Mahinda Rajapaksa said so in response to a proposal made by MP Prof. Ranjith Bandara,that priority should be given to the vital priorities of the people and not to bureaucracy to bring about a positive change in the living standards of 72% of Sri Lankans, both rural and semi-urban.
Secretary to the Ministry of Finance and Treasury Mr. S. R. Attygalle said that there should be good coordination among government institutions regarding the relevant places. Accordingly, the Secretary to the Ministry agreed to prepare a list of priorities with the assistance of State Ministers Ajith Nivard Cabraal and Shehan Semasinghe.
Meanwhile, Minister Gamini Lokuge said that the Ministry of Finance should provide assistance as soon as possible as the tourism industry in the country is facing difficulties due to the current COVID pandemic situation. The Secretary to the Ministry explained to the committee a number of steps taken by the Ministry of Finance in this regard.
Member of Parliament Jagath Kumara, pointed out the problematic situation regarding the pension anomalies and the issuance of nomination to Samurdhi officers for elections. Responding to this, Minister Shehan Semasinghe said that a cabinet paper will be submitted in collaboration with the Minister of Finance and the Minister of Agriculture regarding the issuance of nomination to Samurdhi officers for the election and that the issue will be resolved soon.
Responding to a question raised by MP Jagath Kumara regarding pension anomalies, Secretary to the Ministry of Finance S. R. Attygalle said that the government spends Rs. 1.1 trillion on salaries and pensions alone. According to the budget proposal, 50,000 new graduates will be recruited to the public service and 100,000 youths for the salary of Rs. 35,000 from low-income families are also being recruited and their salaries should be added to this.
Addressing the gathering, Prime Minister Mahinda Rajapaksa said that this was a difficult time for any government to manage its finances. Furthermore, he informed the committee that his two State Ministers and officials of the Ministry of Finance are performing well.
State Minister of Samurdhi, Household Economy, Micro Finance, Self-Employment, Business Development Shehan Semasinghe , State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal, Minister Gamini Lokuge, Members of Parliament Jagath Kumara, Prof. Ranjith Bandara, Gunapala Ratnasekera, S. Viyalendran, Pramitha Bandara Tennakoon, W.D Weerasinghe and Mohomed Muzammil were also present.
In addition, Secretary to the Ministry of Finance and Treasury S.R Attygalle and other senior officials of the Ministry of Finance were also present at the occasion.
2026-02-16
The Microfinance and Credit Regulatory Authority Bill was considered and approved by the Committee on Public Finance.This took place at a meeting of the Committee held in Parliament on 10.02.2026 under the Chairmanship of Hon. Member of Parliament Dr. Harsha de Silva, with the participation of Hon. Deputy Ministers Chathuranga Abeysinghe, (Dr.) Kaushalya Ariyaratne, and Nishantha Jayaweera, as well as Hon. Members of Parliament Attorney-at-Law Rauff Hakeem and Nimal Palihena.The Bill has been drafted with the objectives of establishing the Sri Lanka Microfinance and Credit Regulatory Authority, regulating the money lending business and microfinance business, protecting customers engaged in such businesses, repealing the Microfinance Act, No. 6 of 2016 and providing for matters connected therewith or incidental thereto.The Chair of the Committee stated that the original draft of this Bill, which had been presented in 2024, was challenged before the Supreme Court, and that the constitutional inconsistencies identified by the Court appear to have been addressed in this new draft. The Committee expressed its appreciation for the Bill, which had been prepared after obtaining the views of all stakeholders.Officials stated that the Authority to be established under this Bill will issue licenses to and regulate persons engaged in money lending and microfinance businesses, and that the Authority will be governed by a Board of Directors. It was further noted that no person may conduct a money lending business without a license issued by the Authority.The Committee inquired whether online lending activities would also fall under the purview of the Authority. Officials clarified that online lending may also be carried out only by licensed entities. They further emphasized that customer protection is a primary objective of the Bill.Discussions were also held regarding whether the Bill adequately covers the social empowerment role of community-based financial institutions, including through the introduction of relaxed regulatory fees or simplified compliance requirements. Practical operational issues and consumer protection were also identified as areas requiring further attention.Officials noted that certain lenders, such as e-commerce operators, would not fall within the scope of this Act.Taking into account the prevailing public mistrust and uncertainty surrounding legislative reforms, the Committee recommended that the Ministry of Finance, Planning and Economic Development implement effective communication programs to raise awareness among the public and all stakeholders. As an initial step, the Committee suggested publishing a document containing Frequently Asked Questions (FAQs).As the Authority will be vested with statutory powers to determine maximum interest rates in both the lending and deposit sectors, the Committee advised officials to exercise such powers in a manner that preserves the nature of the various financial instruments used by microfinance institutions for savings and lending activities.The delegation of powers to Divisional Secretariat offices was also discussed at length. Officials stated that small-scale lenders would not be required to travel to Colombo to engage with the Authority, and that limited powers relating to connected functions (such as processing applications and other routine matters) would be delegated to the Divisional Secretariat level. The Committee emphasized the need for a robust information technology system to ensure the effective and efficient implementation of this process.Furthermore, at the same meeting, the Committee also considered and approved the Resolution published in Extraordinary Gazette No. 2464/15 under the Customs Ordinance (Chapter 235), as well as three Orders issued under the Special Commodity Levy Act.
2026-02-13
Select Committee of Parliament to look into and Report to Parliament on the release of 323 Containers from the Port of Colombo without undergoing mandatory physical inspection and submit its proposals and recommendations in that regard, met for the third consecutive day on 11.02.2026 in Parliament. The meeting was chaired by the Hon. Minister of Justice and National Integration, Attorney-at-Law Harshana Nanayakkara.A group of officials from Sri Lanka Customs, including Director General of Customs Mr. Seewali Arukgoda, were summoned before the Committee, and evidence relating to the incident was recorded.Prior to the commencement of evidence, the Chair informed the Committee that the Hon. Minister of Ports and Civil Aviation, Mr. Anura Karunatilaka, had tendered his resignation from the membership of the Committee, and that another member would be appointed in due course to fill the vacancy.The meeting was attended by Committee members: Hon. Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Hon. Deputy Minister of Public Security and Parliamentary Affairs, Attorney-at-Law Sunil Watagala, Hon. Deputy Minister of Energy Arkam Ilyas and Hon. Members of Parliament Attorney-at-Law Dayasiri Jayasekara, Ajith P. Perera, D. V. Chanaka, Mujibur Rahuman, Dr. Najith Indika and Attorney-at-Law Lakmali Hemachandra.
2026-02-13
Officials from the Ministry of Digital Economy stated that there are plans to provide every person in the country with High-Speed Broadband connectivity by the year 2029.These remarks were made during a meeting of the Sectoral Oversight Committee on Science, Technology and Digital Transformation, held in Parliament on 06.02.2026 under the chairmanship of Member of Parliament (Dr). Janaka Senarathne, to discuss the action plan related to the allocation of 2026 budget provisions for the Ministry of Digital Economy and the Ministry of Science and Technology.At this meeting, (Dr.) Hans Wijayasuriya, Senior Advisor to the President, made a detailed presentation before the Committee regarding the programme planned to provide High-Speed Broadband connectivity to every person in the country. He pointed out that steps are being taken this year to install 100 new telecommunication towers. He further stated that between 600 to 1000 telecommunication towers would be required to fully meet the national requirement, and that this would be carried out in stages.He also emphasized that although approximately 98% internet coverage currently exists in the country, it does not meet the requirements for High-Speed Broadband coverage. Therefore, he stated that the existing capacity must be increased by around 25% in order to provide High-Speed Broadband facilities to every child.Furthermore, he noted that a commercial model will be prepared in relation to telecommunication towers, and opportunities will be given to the private sector to submit bids for this purpose.The Committee also focused attention on the need to improve digital literacy in areas outside Colombo, and it was proposed that programmes be organized through District Secretariat offices for this purpose.In addition, discussions were held regarding the action plan for allocating 2026 budget provisions for the Ministry of Science and Technology, and several annual reports and performance reports of institutions were approved.The meeting was attended by Hon. Deputy Minister Chathuranga Abeysinghe, and Members of Parliament Chandima Hettiarachchi, Lasith Bhashana Gamage, Chathura Galappaththi, Aboobucker Athambawa and Ruwan Wijeweera.
2026-02-13
The Committee on High Posts of parliament has approved the nominations of four Heads of Mission. The approval was granted when the Committee met in Parliament recently (Feb. 06) under the chairmanship of Prime Minister Dr. Harini Amarasuriya.Accordingly, the Committee approved the nominations of Mr. Horana Mahawatte Gedara Saman Kumar Chandrasiri as the Ambassador of Sri Lanka to the State of Israel, Mr. Warnakulasuriya Peter Rohan Dhammika Fernando as the High Commissioner of Sri Lanka to the Republic of Kenya, Anura Withanage as the Ambassador of Sri Lanka to the Lebanese Republic, and Mohamed Farook Mohamed Fawzer as the Representative of Sri Lanka to the State of Palestine.
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