2023-09-20
News Categories : Committee News
Hon. Wajira Abeywardana stated that when the Central Bank declared financial bankruptcy, an entire country failed.
The Member of Parliament stated the above when the Select Committee of Parliament to Investigate Causes for Financial Bankruptcy declared by the Government and to Report to Parliament and Submit its Proposals and Recommendations in this regard met recently (Sep. 15) Chaired by Hon. Sagara Kariyawasam in Parliament.
Hon. Wajira Abeywardana and the former Central Bank Governor Ajith Nivard Cabraal were called before the Committee.
The statements made by the Member of Parliament Hon. Wajira Abeywardana on September 1st, 2022 and February 10th, 2023 regarding financial bankruptcy were inquired at the Committee meeting held.
Addressing the Committee Hon. Wajira Abeywardana pointed out that according to the Constitution, the power of financial control vets with the Parliament and because of follwoing a wrong process, the Central Bank declared the country's financial bankruptcy on 12.04.2022. The Parliamentarian pointed out that as a result of this, the whole country fell into trouble.
Hon. Wajira Abeywardana pointed out that in the first quarter of 2022, $3.9 billion was to be paid and by April 8th, 2022, $3.2 billion had been paid. He pointed out that by April 12th, about 70 million dollars had to be paid to China and in that context, the Central Bank declared financial bankruptcy on April 12th effortlessly. The Parliamentarian pointed out that this is a wrong process and this should not have happened and there was potential to get support from the private sector and pay this amount. As a result, he pointed out that a large number of officials of the Central Bank are responsible for the situation in the country and certain individuals were not standing by Sri Lanka at that point in time. Therefore, the Member of Parliament further mentioned that people who stand with Sri Lanka should be given a high chair.
He also quoted a statement made by the current President, Hon. Ranil Wickremesinghe, on April 8th, 2022, when he was a Member of Parliament. He also commented on the submission of about 70 amendments to the recently presented Central Bank Act by the Supreme Court.
Addressing the Committee, the former Central Bank Governor Ajith Nivard Cabraal pointed out that the declaration of financial bankruptcy was the result of a long-term effort by several groups. The new Central Bank Governor declared financial bankruptcy on the first day of his appointment, i.e. April 12th, he said. He also pointed out that this is a declaration of debt default made without any national or institutional level discussion.
The former Central Bank Governor Ajith Nivard Cabraal pointing out 3 main points in particular and accordingly, indicated that the announcement of financial bankruptcy on April 12th, 2022, how the bankruptcy took place and the fall in the value of the rupee will be discussed here. He explained at length how the declaration of financial bankruptcy was made on April 12th, 2022, and stated that he would elaborate on the other two points on a future date due to time constraints.
The Committee Chair, Hon. Sagara Kariyawasam, stated that there is an opinion that the governor of the Central Bank ran away at a difficult time for the country and he needs to give an explanation in this regard. Former Governor Ajith Nivard Cabraal said that on 03.04.2022, all the Cabinet Ministers met and took a decision to resign from the Cabinet and because he was also present at this occasion, he too felt obligated to take the same decision. But he pointed out that it does not amount to running away.
The Committee Chair, Member of Parliament Hon. Sagara Kariyawasam stated that it is important to get a good understanding regarding this matter so that something like this does not happen in the future.
Minister Hon. (Mrs.) Pavithradevi Wanniarachchi, Members of Parliament Hon. S. B. Dissanayake, Hon. Jayantha Ketagoda, Hon. (Dr.) Major Pradeep Undugoda, Hon. Sanjeeva Edirimanna, Hon. Nalaka Bandara Kottegoda were present at the Committee meeting held.
2025-11-27
The appointments of three chairmen of state-owned institutions were approved by the Parliamentary Committee on High Posts yesterday (Nov. 26).Accordingly, the appointments of Dr. D.B.P.H. Dissabandara as the Chairman of the Securities and Exchange Commission of Sri Lanka, Mr. M.D.C.A. Perera as the Chairman of the National Lotteries Board, and Eng. P.V.A. Hemalal, as the Chairman of Kahatagaha Graphite Lanka Limited, were approved by the Committee on High Posts.The meeting was chaired by Hon. Prime Minister, Dr. Harini Amarasuriya, and a group of members of the committee participated in this meeting.
2025-11-27
The Chair of the Sectoral Oversight Committee on Governance, Justice and Civil Protection, Hon. Member of Parliament (Dr.) Najith Indika, stated that the National Dangerous Drugs Control Board must take the lead in streamlining the procurement process and easing existing legal barriers related to importing equipment used to test drivers for drug use.These matters were taken up during the Sectoral Oversight Committee on Governance, Justice and Civil Protection, which met in Parliament on 20th November 2025 under the chairmanship of Hon. MP (Dr.) Najith Indika.The Committee reviewed the progress of the 2025 budget proposals and special project implementations of the Ministry of Public Security & Parliamentary Affairs and the Ministry of Public Administration, Provincial Councils & Local Government.Officials from the Sri Lanka Police Narcotics Bureau highlighted the difficulties in conducting roadside drug tests due to the lack of necessary equipment.The Committee Chair noted that the government has prioritized eliminating drug abuse and stressed the importance of regulating drivers who operate vehicles under the influence of drugs. He further stated that essential equipment required to identify drug users must be made readily available and that legal barriers affecting their procurement process and importation should be addressed promptly.Police officials also informed the Committee that notable progress has been made in implementing budgeted programmes related to drug prevention. Officials from the National Dangerous Drugs Control Board briefed the Committee on the progress achieved under their purview as well.The Committee additionally reviewed the progress of the 2025 budget proposals of the Ministry of Public Administration, Provincial Councils & Local Government. The Ministry Secretary reported significant progress and noted that many suspended development projects have now resumed.Hon. Members of Parliament G.G. Ponnambalam, Mujibur Rahman, Attorney-at-Law Thushari Jayasinghe, and Dharmapriya Wijesinghe were also present at the committee meeting.
2025-11-26
The Sectoral Oversight Committee on Governance, Justice and Civil Protection recently (Nov. 18) reviewed 12 performance reports and annual reports of institutions functioning under the Ministry of Justice and National Integration.The Committee met in Parliament on the 18th under the chairmanship of Hon. Member of Parliament Dr. Najith Indika.Accordingly, the Committee examined the 2022, 2023 and 2024 performance reports of the Registrar’s Office of the Supreme Court, the 2023 and 2024 performance reports of Judges of Supreme Court, the 2022 Annual Report of the Supreme Court Complex Management Board, the 2022 and 2023 Annual Reports of the National Authority for the Protection of Victims and Witnesses of Crime, and the 2023 and 2024 Annual Reports of the Department of Community Based Corrections.In addition, the Committee reviewed the 2022 and 2023 Annual Reports of the Legal Aid Commission of Sri Lanka, the 2023 and 2024 Annual Reports of the Department of Official Languages, the 2020,2021,2022 & 2023 Annual Reports of the Official Languages Commission, the 2022 and 2023 Annual Reports of the National Institute of Language Education and Training, the 2023 and 2024 Annual Reports of the Department of Prisons, the 2023 and 2024 Annual Reports of the Prisoners’ Welfare Fund, and the 2023 and 2024 Annual Reports of the Debt Conciliation Board.The Committee also inquired into audit observations related to these institutions, and relevant officials presented their explanations. Attention was also drawn to the current activities of these institutions, as well as existing issues and shortcomings. The Committee Chair informed officials to notify the Committee if amendments to the legal framework governing these institutions were necessary to ensure more efficient service delivery, and assured the Committee’s support in facilitating such changes.Further, regarding the 2024 Annual Performance Report of the Department of Community Based Corrections, it was noted that the Auditor General’s report highlighted the incomplete construction of the building for the Legal Aid and Community Correctional Office in Puttalam. The Committee requested a report on this matter.Accordingly, approval of the Committee was granted for all performance and annual reports reviewed, except for the 2023 and 2024 Annual Performance Reports of the Department of Community Based Corrections.Hon. Members of Parliament Mujibur Rahman, Attorney-at-Law Thushari Jayasinghe, and Major General (Retd.) G.D. Sooriyabandara, along with a group of government officials, participated in the Committee meeting.
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