2024-01-12
News Categories : Committee News
It was revealed during the Committee on Ways and Means that the Central Bank of Sri Lanka is currently in the process of moving from the "Lanka Pay" system to Central Bank Digital Currencies (CBDCs) and will reach its final stage at the end of this year.
This information was disclosed when the Committee on Ways and Means met in Parliament recently (Jan. 10) under the Chairmanship of Hon. Patali Champika Ranawaka, Member of Parliament, to discuss the introduction of an electronic money system for the financial market and the use of blockchain technology.
Representatives of the Ministry of Finance, Economic Stabilization and National Policy, Central Bank of Sri Lanka, Attorney General's Department, Information and Communication Technology Agency and scholars related to this field were called before the Committee for this discussion.
Due to the lack of a financial registry, there is an unregulated market in 45% of the country, and there was a discussion at length regarding the introduction of a digital currency unit and an electronic payment platform for transactions and the use of blockchain technology to regulate it.
Commenting on the matters presented by the representatives of the Central Bank of Sri Lanka the Chair of the Committee stated that the Central Bank of Sri Lanka should focus on whether and how blockchain technology can be used in the activities of the main revenue collection agencies of the Government of Sri Lanka, namely the Inland Revenue Department, Sri Lanka Customs and Sri Lanka Excise Department.
In response, the Central Bank officials stated that basically there is a possibility to do so and the Central Bank of Sri Lanka is already using blockchain technology for investigations related to identification of individuals. Furthermore, the officials representing the Central Bank mentioned that since the cost of moving directly to the blockchain technology is high, there is a possibility of reaching that goal gradually. In order to achieve that goal, the Committee also pointed out the importance of motivating the customer to do more electronic transactions through digital banking.
Moreover, the Central Bank officials stated that although there is legal permission for digital banking in Sri Lanka, no bank has made requests for fully digital banking. Furthermore, the Chair pointed out that the central bank did not give instructions to use the QR code system for fuel, but to use it for financial transactions without abolishing it. He emphasized the importance of using this "QR Code" method for important sectors of the Sri Lankan economy such as transportation and electricity.
The Committee Chair also instructed the officials of the Central Bank to study the process of digitization in adapting India and Bangladesh to the use of electronic transactions and digital currencies and to submit a report within 2 weeks to the Committee on the methods and procedures regarding the challenges and solutions and its background.
State Ministers Hon. Lasantha Alagiyawanna, Hon. Sisira Jayakody, Members of Parliament Hon. Ashok Abeysinghe, Hon. (Prof.) Charitha Herath and Hon. Ishak Rahuman, were present at the committee meeting held.
2026-07-16
The Ministerial Consultative Committee on Education, Higher Education and Vocational Education recently discussed and approved the final report of the Committee appointed to make recommendations for the establishment of an Education Council in Sri Lanka which had been endorsed by the Sub-Committee on the Establishment of an Education Council.The approval was granted at the meeting of the Ministerial Consultative Committee on Education, Higher Education and Vocational Education held in Parliament under the chairmanship of Hon. Prime Minister Dr. Harini Amarasuriya.During the meeting, the Chair of the Sub-Committee, Hon. Deputy Minister Mahinda Jayasinghe, presented the report to the Committee. The report incorporates the observations and recommendations made following a comprehensive study conducted by the panel of experts appointed by the Ministry to formulate recommendations for the establishment of an Education Council in Sri Lanka.Thereafter, the Committee sought the views and proposals of its members on the contents of the report. Following an extensive discussion, the Ministerial Consultative Committee approved the report.The meeting was attended by Ministers, Deputy Ministers, Members of Parliament, and officials of the Ministry of Education, Higher Education and Vocational Education.
2026-07-16
The Committee on Public Accounts (COPA) extensively reviewed the Auditor General's Reports relating to the Department of Examinations of Sri Lanka for the years 2021 to 2024, as well as its current performance.The discussion took place when the Committee met in Parliament under the chairmanship of its Chair, Hon. Member of Parliament Kabir Hashim.During the meeting, the Committee focused on a number of matters, including the conduct of examinations and the process of releasing examination results, the use of information technology systems, human resource management, procurement procedures, the submission of annual reports to Parliament, and the implementation of the recommendations of the Auditor General.Officials also briefed the Committee on the measures taken to further enhance the Department's current performance and service efficiency, as well as the programmes scheduled to be implemented in the future.The Committee also discussed the action taken in response to the observations of the Auditor General and instructed the officials to take the necessary steps to expedite the implementation of the remaining recommendations.The meeting was attended by Committee Members Hon. Deputy Ministers Nalin Hewage and Sugath Thilakarathna, and Hon. Members of Parliament Chanaka Madugoda, Dr. M. L. A. M. Hizbullah, Hector Appuhamy, T. K. Jayasundara, Chandana Sooriyarachchi, Lal Premanath, Ruwanthilaka Jayakody, Dr. Janaka Senarathna and Sunil Rathnasiri.
2026-07-16
Parliamentary Caucus for Youth focused on the importance of obtaining the views and proposals of young people on the Draft National Youth Policy.The matter was discussed at the sixth meeting of the Parliamentary Forum for Youth, held recently in Parliament under the chairmanship of Hon. Deputy Minister Eranga Gunasekara.During the meeting, an extensive discussion was held on the Draft National Youth Policy. Attention was also drawn to obtaining the views and proposals of the Members of the Caucus with a view to incorporating the needs and aspirations of young people into the policy in a more effective manner.It was further emphasised that the Parliamentary Caucus for Youth will continue to facilitate the meaningful inclusion of the voices of young people in the policy formulation process.The meeting was attended by Hon. Members of Parliament and officials.
2026-07-10
The Committee on High Posts, which met in Parliament recently (Jul. 08), has granted its approval for the appointment of Mr. D.P. Wickramasingha as the Secretary to the Ministry of Agriculture, Livestock, Land and Irrigation.The meeting was chaired by the Hon. Prime Minister Dr. Harini Amarasuriya and was attended by Hon. Ministers Bimal Rathnayake and Dr. Upali Pannilage, as well as Hon. Members of Parliament Dr. Nihal Abeysinghe, Rishad Bathiudeen, K. Kader Mastan, Kumara Jayakody, Kathiravelu Shanmugam Kugathasan, and Attorney-at-Law Chamindrani Kiriella.
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