2022-11-19
The chairman of the Ministerial Consultative Committee on industries Hon. (Dr.) Ramesh Pathirana stated that the budget for the year 2023 had set aside an amount of 2 billion to fund and support the SME sector.
The Minister stated the above acknowledging the concern raised by Hon. Sajith Premadasa, Leader of the Opposition over the Small and Medium Enterprises (SMEs) under the present context at the Committee meeting held.
The Committee was also of the view that a proper mechanism needs to be set out to asses SMEs to which assistance is to be granted in a methodically executed manner.
Furthermore, 19 Annual Reports which has been pending for a long period of time was presented before the Committee for its consideration and was approved.
The said reports were considered and approved at the first meeting of the Ministerial Consultative Committee on industries for the third session of the ninth Parliament held recently (Nov. 16), chaired by Hon. (Dr.) Ramesh Pathirana, Minister of Plantation Industries and Minister of Industries.
Furthermore, members also raised concerns over the Dolomite industry. It was stated that the lack of explosives and allowing imports affect the industry and small-scale entrepreneurs. The Chair stated that the concern pertaining to explosives are being looked into and that the Ministry will look into the concern raised regarding allowing imports.
Many concerns on various industries from matters that arise challenging the development of the batik industry and the availability of raw material required for the industry, concerns pertaining to the national gem and Jewelry industry were also brought to attention by Members of Parliament at the Committee meeting held.
State Minister Hon. Prasanna Ranaweera, Hon. Janaka Wakkumbura, Hon. Chamara Sampath Dassanayake, Members of Parliament Hon. Rishad Bathiudeen, Hon. Buddhika Pathirana, Hon. Madhura Withanage, Hon. Nalaka Bandara Kottegoda, Hon. Sumith Udukumbura, Hon. Mohamad Muzammil, Hon. Sahan Pradeep Withana were present at the Committee meeting held.
2026-10-08
The Committee on Public Finance recently summoned officials of the Central Bank of Sri Lanka to Parliament to inquire into the financial irregularities identified at NDB Bank and the final audit report relating to the matter.The Committee meeting, chaired by Hon. Member of Parliament Dr. Harsha de Silva, discussed irregularities identified in NDB Bank’s financial statements, shortcomings in the audit process, and the relevant audit reports.The meeting was attended by Hon. Deputy Ministers Chathuranga Abeysinghe, Dr. Kaushalya Ariyaratne, and Nishantha Jayaweera, as well as Hon. Members of Parliament Attorney-at-Law Rauff Hakeem, Ravi Karunanayake, Ajith Agalakada, Nimal Palihena, Wijesiri Basnayake, M.K.M. Aslam, Champika Hettiarachchi, and Attorney-at-Law Lakmali Hemachandra.The Committee also focused on the findings of the investigation conducted by the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAAMB), as well as the findings revealed through the investigation conducted by Deloitte Touche Tohmatsu India LLP. In particular, the Committee inquired into the failure of the external auditors to identify irregularities in NDB Bank’s financial statements.The accountability of senior management with regard to corporate governance and risk management in relation to the financial irregularities was also discussed.Furthermore, as a significant proportion of NDB Bank’s shares are held by institutions representing public and state funds, the Committee also considered the potential impact of such financial irregularities on public funds and the general public.The Committee also discussed the progress made by LankaPay in establishing a centralized fraud monitoring system to prevent fraud within the financial system. The need to strengthen fraud monitoring systems at the individual bank level to monitor transactions carried out within each bank was also emphasized.Accordingly, the following observations are included in the final audit report concerning the financial irregularities at NDB Bank:1. The audit covers the period from 1 April 2016 to 31 March 2026. The audit report specifically identifies the financial impact arising from fraudulent transactions amounting to Rs. 13,639,664,684 (Rs. 13.6 billion).2. According to the disclosure made on 29 September 2026, the financial impact arising from the fraudulent transactions is as follows:• Rs. 1.5 billion for the period prior to 1 January 2025;• Rs. 9.6 billion during 2025; and• Rs. 2.5 billion for the quarter ended 31 March 2026.3. Compared with the initial disclosure made by NDB on 6 April 2026, the reported amount of the fraud has increased by Rs. 0.4 billion, from Rs. 13.2 billion to Rs. 13.6 billion. Compared with the amount disclosed by NDB on 26 June 2026, based on the interim report dated 22 June 2026, the additional amount of fraud is Rs. 60 million.4. The final audit report has also confirmed the previous disclosures that no customer accounts were affected as a result of the fraud incident.5. The report has identified several governance failures at NDB relating to the processing of CEFT transactions, user-level activities within the Core Banking System, and the management of user credentials and access information. In addition, shortcomings have been identified in several operational areas, including transaction monitoring, daily account reconciliation, financial compliance, internal audit, branch network management, and operational risk management.6. The audit report has made comprehensive recommendations to strengthen the control mechanisms, governance structures, and processes relating to the above-mentioned activities of the bank.
2026-10-02
Following discussions, the Sectoral Oversight Committee on Governance, Justice and Civil Protection approved the Anti-Corruption (Amendment) Bill.The decision was made when the Sectoral Oversight Committee met in Parliament recently (Sep. 30) under the chairmanship, Hon. Member of Parliament Dr. Najith Indika.During the meeting, the Committee discussed practical issues that have arisen in implementing the Anti-Corruption Act, No. 9 of 2003, discrepancies between the Sinhala and English versions of the Act, the electronic system for submitting declarations of assets and liabilities, and public access to such declarations.The Committee also discussed matters including resolving the technical and administrative issues affecting the effective implementation of the Act. Following these discussions, the Committee granted its approval to the Anti-Corruption (Amendment) Bill.
2026-09-30
It was revealed at the Ministerial Consultative Committee on Youth Affairs and Sports, which met recently in Parliament under the chairmanship of Hon. Minister of Youth Affairs and Sports Sunil Kumara Gamage, that arrangements are being made to gazette and present to Parliament a new Bill prepared to completely reform the governance structure of Sri Lanka Cricket.It was stated before the Committee that the proposed new cricket governance structure would include independent directors. Under the proposed new legislation, District Cricket Associations will no longer engage directly in decision-making with Sri Lanka Cricket, but will instead function through Provincial Cricket Associations.The Committee was also informed that Sri Lanka Cricket provides Rs. 900 million annually, together with equipment, for school cricket. It was further revealed that plans have been proposed in consultation with the Ministry of Education, Higher Education and Vocational Education to formalize the recruitment of coaches and the player selection process.Meanwhile, the Committee reviewed the progress in implementing the recommendations of the Auditor General relating to sports associations. It was stated that 33 sports associations have completed the relevant recommendations, while reports are due to be obtained in respect of a further 33 associations.The Ministry has instructed that the collection of fees for walking tracks and sports complexes used by the public for health and exercise activities be suspended immediately. The Ministry’s policy that sports facilities should be maintained not as profit-making ventures, but as a government responsibility for the promotion of national health and community welfare, was also emphasized.It was also stated that, under the plan to provide at least one synthetic running track in every province, the next synthetic track is scheduled to be constructed in Anuradhapura. The Committee was informed that there are currently only two synthetic tracks in the country.The Committee also discussed matters relating to the development of sports facilities in the Ampara District, the development of Weber Stadium in Batticaloa and the Hingurakgoda Sports Complex, improvements to sports facilities in the Hali-Ela area of Badulla, and resolving issues at the Bandaragama Public Grounds in Kalutara.Furthermore, the Committee was informed that when allocating government funds for international competitions, funding will be provided only for official national teams representing Sri Lanka and officially recognized international tournaments. It was also revealed that no discrimination based on race or region would be made when selecting national teams or sending teams to participate in overseas competitions.The meeting was attended by Hon. Deputy Minister of Youth Affairs Dinidu Saman Hennayake, other Deputy Ministers, Hon. Members of Parliament, officials of the Ministry of Youth Affairs and Sports, and members of the Transformation Committee of Sri Lanka Cricket, among others.
2026-09-30
The Subcommittee on Shortage of Physical Resources in Schools discussed the progress of the General Education Modernization Programme (GEM) implemented by the Ministry of Education.The Subcommittee, appointed by the Ministerial Consultative Committee on Education, Higher Education and Vocational Education to investigate the shortage of physical resources in schools, considered these matters at a meeting held recently in Parliament under the chairmanship of Hon. Member of Parliament Samanmali Gunasinghe.Officials of the Ministry of Education briefed the Subcommittee on the work carried out in schools under the programme, which is being implemented with the assistance of the World Bank. The Subcommittee emphasized the need to further expedite the activities being carried out under the programme and instructed officials to submit a detailed report on its progress.The Subcommittee further emphasized the need to take necessary measures to address the requirements relating to sanitary facilities and drinking water facilities in schools, particularly to ensure the quality and safety of drinking water.The Subcommittee also conducted an extensive review of the progress of the programme to provide telecommunication facilities to schools, as well as the progress of programmes to establish model primary schools.Hon. Members of Parliament R.M. Samantha Ranasinghe and Padmasiri Bandara, together with officials of the Ministry of Education, also participated in the meeting.
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