2024-02-27
News Categories : Committee News
Hon. Mahindananda Aluthgamage, Committee Chair of the Sectoral Oversight Committee on National Economic and Physical Plans stated that he will convey the need to maintain the Valaichchenai Paper Mill as a public private joint venture without allowing a situation of closure is presented to the concerned ministers and the Hon. President
The Committee Chair stated the above when the National Paper Company Limited annual reports for the years 2013, 2014 and 2015 were taken into consideration by the Sectoral Oversight Committee on National Economic and Physical Plans recently (Feb. 20).
Ms. Thilaka Jayasundara, Secretary to the Ministry of Industry stated that since the machines of the Valaichchenai factory were imported in 1956 and thus 1.2 million dollars are required for repairs. However, since no financial allocation was received from the treasury, a cabinet paper was submitted to run this as a public private joint venture, but was not approved as the land was allocated for tourism.
It was also disclosed that if USD 1.2 million is spent and repairs are made to the machines in the factory, a profit of 22 million rupees per month can be made by producing 5 tons per day. It was also discussed that this entire land, which is spread over an area of 340 acres, could be considered for a tourist zone instead of only a part of it. The Committee Chair stated that if the Valaichchenai Paper Mill is to be closed down, instead of selling it, it is important to run it as a public private joint venture, and thus, the recommendation of the Committee shall be forwarded to the Ministry of Finance and industry and the Hon. President.
Moreover, the Committee emphasized the need to build a manufacturing economy by developing the industries of the country instead of depending on the tourism industry itself. The Secretary to the Ministry of Industries pointed out that the contribution of the manufacturing sector is only 15% of the country's gross domestic product, while in a developed country this figure is 30%. She stated that the land reserved for industries is 0.04 percent of the total land in the country and it is usually 3 percent in a developed country.
Furthermore, attention was paid to the concern of not having a specific region for the leather industry and it was pointed out that plans should be prepared taking into account the development of both industry and tourism sectors.
Moreover, taking into account the 2022 annual report of the Department of Fiscal Policy, the Committee Chair drew attention to the weaknesses in the tax collection process in this country. The Committee pointed out that it is unacceptable for people with large incomes to sneak through the tax net and collect taxes from people with low incomes and advised to conduct a more extensive study on the tax policy and streamline the related mechanism. The Committees emphasized that the Inland Revenue Act should be amended and the officials including the Ministry of Finance should take the initiative for the said.
The Committee Chair expressed his displeasure that although a number of recommendations were made to connect the Land Registry Department and the Motor Transport Department with the Ramis system of the Inland Revenue Department, it has not been done so far. He also stated that the government will lose a considerable amount of tax due to the provision of temporary VAT number by the Inland Revenue Department.
Additionally, the 2022 Annual Report of the Public Accounts Department, the 2020 Annual Report of the HDFC Bank, the 2022 Performance Report of the Ministry of Commerce, the 2021 Annual Report of the Sri Lanka Accreditation Board, the 2022 Performance Report of the Cooperative Employees Commission, the 2022 Annual Report of the Ministry of Urban Development and Housing and Condominiums The management authority's annual report for the year 2021 was also considered at the Committee meeting held.
Members of Parliament Hon. Eran Wickramaratne and Hon. Madhura Withanage, officials from relevant government institutions were also present at the Committee meeting held.
2026-06-18
A meeting of the Women Parliamentarians Caucus was held in Parliament recently to discuss the importance of incorporating Gender-Responsive Budgeting into Sri Lanka’s national budget formulation process and to examine the challenges associated with its implementation.The meeting was chaired by the Chairperson of the Caucus and Hon. Minister of Women and Child Affairs, Saroja Savithri Paulraj. Hon. Prime Minister Dr. Harini Amarasuriya also participated in the discussion.A key concern raised during the discussion was the lack of adequate data and indicators to accurately assess and measure women’s economic contributions within the budgetary process. Drawing on examples of approaches adopted in India and other countries, members of the Caucus underscored the need to identify and address existing systemic and technical gaps in Sri Lanka’s budgeting framework.The Caucus also emphasized the importance of disaggregating data by gender in project reporting and strengthening digital data management systems to support such efforts. It was further noted that identifying relevant gender-related considerations at the initial stages of project design and implementation at the ministerial level would facilitate more effective project analysis, monitoring, and evaluation of outcomes.The need to move away from existing traditional and time-consuming methods towards formal online systems and data-driven analytical tools was also emphasized.The current progress and challenges in integrating Gender-Responsive Budgeting into Sri Lanka’s public financial policy were discussed in detail during the meeting.It was also emphasized that such budgeting should not be limited to nominal percentages in documents, but that the need to establish a formal framework and data system to ensure it has a real and practical impact was also highlighted.The Hon.Deputy Chairperson of Committees Hemalee Weerasekera, Hon. Deputy Minister Dr. Kaushalya Ariyarathne, Co-Vice Chairpersons of the Caucus, Hon. Members of Parliament Chamindrani Kiriella, Attorney at Law and Samanmalee Gunasinghe, Hon. Members of Parliament Thushari Jayasinghe, Attorney at Law, Krishnan Kaleichelvi, Sagarika Athauda ,Attorney at Law, Nilanthi Kottahachchi, Attorney at Law, Ambika Samivel and Lakmali Hemachandra, Attorney at Law, along with a group of officials from the Ministry of Finance, Planning and Economic Development, also participated in the event.
2026-06-17
The Ministerial Consultative Committee on Public Administration, Provincial Councils and Local Government met recently (Jun. 12) at Parliament under the chairmanship of the Hon. Minister of Public Administration, Provincial Councils and Local Government, Prof. A.H.M.H. Abayarathna.During the meeting, Members of Parliament discussed a range of issues and proposals relating to their respective electorates, as well as several other matters of public importance.Hon. Members of Parliament and officials were present at the meeting.
2026-06-17
The Ministerial Consultative Committee on Buddhasasana, Religious and Cultural Affairs met recently (Jun. 09) at Parliament under the chairmanship of the Hon. Minister of Buddhasasana, Religious and Cultural Affairs, Dr. Hiniduma Sunil Senevi.During the meeting, Members of Parliament discussed a number of proposals and issues, including reviewing the progress of discussions initiated with the Ministry of Education, Higher Education and Vocational Education and the Department of Examinations regarding the formulation of regulations to prevent the conduct of private tuition classes on Sunday mornings, thereby facilitating the holding of Dhamma School classes on Sundays.The meeting was attended by Hon. Deputy Ministers, Hon. Members of Parliament and officials.
2026-06-17
The Committee on Public Finance (COPF) granted approval for the Rules published in Extra Ordinary Gazette Notifications No. 2479/54 dated 12 March 2026 and No. 2492/10 dated 09 June 2026, made under the Central Bank of Sri Lanka Act, No. 16 of 2023 following its consideration. The said approval was granted when the COPF met in Parliament on 09 June 2026 under the Chairmanship of Hon. Member of Parliament (Dr.) Harsha de Silva. In the discharge of its functions, including the formulation of monetary policies under the Central Bank of Sri Lanka Act, No. 16 of 2023, the Central Bank of Sri Lanka is required to collect statistics and information from external parties. Accordingly, the Rules published in Extraordinary Gazette Notification No. 2479/54 dated 12 March 2025 under the said Act have been made to prescribe the statistics and information to be reported, the persons subject to such reporting requirements, and the administrative measures that may be taken in the occasion of a violation of the relevant requirements. The Rules further restrict the authority to issue notices requiring the submission of statistics and information to authorized officers of the Central Bank of Sri Lanka (CBSL), namely the Deputy Governors, the Head of the Economic Research Department, and the Head of the Department of Census and Statistics.In addition, the Rules provide for safeguards, including ensuring that the information equipped is used solely for the purpose for which it is collected.The Committee also drew attention to the non-publication of certain government debt data by the CBSL. It was observed that such information is currently maintained by the Public Debt Management Office and that there are limitations in reproducing debt statistics in the format previously published by the CBSL. The Committee emphasized the importance of maintaining public access to government debt information through the publications of the CBSL and also noted the delay in the publication of reports relating to the secondary market for government securities.Further, the COPF pointed out that accurately calculating tourism earnings has become a challenge due to the various payment methods used by tourists, and emphasized the need to improve data collection surveys to enhance the accuracy of such estimates.The Committee also granted approval, following due consideration, for the Rules published in Extraordinary Gazette Notification No. 2492/10 dated 09 June 2026 under the Central Bank of Sri Lanka Act. These Rules, titled the "Repatriation of Export Proceeds into Sri Lanka Rules, No. 2 of 2026," further amend the existing regulatory framework governing the repatriation of export proceeds into Sri Lanka.Accordingly, every exporter of goods who repatriates export proceeds into Sri Lanka during any given month is required to utilize such proceeds only for permitted payments, and to mandatorily convert the remaining balance into Sri Lankan Rupees on or before the 10th day of the following month. This amendment reduces the three-month period previously allowed under the regulations introduced in 2024 to a deadline of the 10th day of the following month.The CBSL pointed out that, in view of the volatility in the exchange rate and the foreign exchange market, as well as the shortage of foreign exchange liquidity, it had become necessary to reduce the period granted to exporters for converting export proceeds into Sri Lankan Rupees.The Committee pointed out that this measure could potentially affect market confidence and contribute to volatility in the foreign exchange market. In response, CBSL officials stated that the measure had been introduced as a short-term policy tool to address exchange rate volatility and the current shortage of foreign exchange supply, and that it would be relaxed once market conditions stabilize.The Committee also discussed the alleged financial fraud involving NDB Bank. An extensive discussion was held on the relevant technical matters, including the role and responsibilities of the CBSL in relation to the incident. It was decided that the matter would be taken up again following the completion of the ongoing forensic audit.Hon. Deputy Minister (Dr.) (Ms.) Kaushalya Ariyaratne, Hon. Deputy Minister Nishantha Jayaweera, and Hon. Members of Parliament Rauff Hakeem, Attorney-at-Law, Ravi Karunanayake, M.K.M. Aslam, Nimal Palihena, Wijesiri Basnayake, Sunil Rajapaksha, Thilina Samarakoon, Champika Hettiarachchi, and Lakmali Hemachandra, Attorney-at-Law, together with Central Bank Governor Dr. Nandalal Weerasinghe and other officials, were present at the meeting. A delegation from the House Democracy Partnership (HDP) and the Congressional Budget Office (CBO) of the United States Congress, who were in Sri Lanka on a technical assistance mission on “Strengthening Budgetary and Economic Analysis in Parliament,” also attended the committee meeting as observers.
Handbook of Parliament
The System of Elections in Sri Lanka
How Parliament Works
Business of Parliament
Copyright © The Parliament of Sri Lanka.
All Rights Reserved.
Design & Developed by TekGeeks
