2024-07-22
News Categories : Committee News
The Committee on Banking and Financial Services directed its attention for the purpose of returning the money of the depositors by financing the assets belonging to Dehiwala-Mount Lavinia (Various Services) Cooperative Society.
This was discussed when the Committee on Banking and Financial Services met in Parliament recently (July 12) under the Chairmanship of Hon. Gamini Lokuge, Member of Parliament.
The Committee discussed this on a number of occasions, and in all those discussions, the main 4 issues; the impact of the economic crisis in the country, fraud and corruption in cooperative societies, imprudent decisions taken by officials and failure to conduct an audit of accounts in due time were focused.
Officials who attended the Committee meeting pointed out that loans were given to some customers in an illegal manner. In consequence to this, they pointed out that they are currently working to arrest two officers involved.
The officials who were present pointed out that more than 400 instant loans have been given to the one person in particular to the Dehiwala Mount (Various Services) Co-operative Society.
The Committee pointed out that the investigation in this regard should be expedited. Therefore, the Committee instructed the officials to consult with the Criminal Investigation Department and update the information regarding the investigations.
It was also recommended to submit a report to the Committee on the monthly expenses for the maintenance of the Dehiwala Mount (Various Services) Co-operative Society, including the payment of salaries.
Furthermore, the Committee on Banking and Financial Services was praised by all the parties present for the active intervention of the Committee to resolve the crisis situations in the cooperative sector that had no solution.
Hon. Udaya Gammanpila, and Hon. Karunadasa Kodithuwakku, Members of Parliament, were present at this Committee meeting held. Moreover, officials representing several institutions including Western Provincial Council, Department of Cooperative Development, Colombo and Dehiwala Mount (Various Services) Co-operative Society were also present.
2026-07-30
The Sectoral Oversight Committee on Infrastructure and Strategic Development held extensive discussions on the Sri Lanka Ports Authority's (SLPA) current operational performance, the progress of its development projects, financial performance for 2026, the implementation of recommendations previously made by the Committee, and the Authority's 2024 Annual Report.The discussion took place when the Committee met in Parliament recently under the chairmanship of Hon. Member of parliament S. M. Marikkar.The Committee reviewed the financial progress and profitability recorded by the Sri Lanka Ports Authority during the past six months and discussed measures required to sustain this positive performance.Particular attention was paid to the growing regional and domestic competition faced by the Port of Colombo. The Committee sought clarifications from officials regarding the competitive pressures arising from the expansion of India's Vizhinjam Port, the investment made in that port by one of the world's leading shipping companies, Mediterranean Shipping Company (MSC), and plans to increase the capacity of the Port of Hambantota.The Committee also held detailed discussions on the progress of development projects aimed at expanding the capacity of the Port of Colombo, the reasons for delays in implementing these projects, issues encountered in procurement and tender procedures, and the financial impact of these delays on the Government.The Committee emphasized the need to conduct a proper audit into the causes of the delays in order to identify the parties responsible. It further stressed the importance of implementing more efficient procurement and project management mechanisms to prevent similar delays in the future.The development of regional ports, including Hambantota, Galle and Kankesanthurai, strengthening related infrastructure, and enhancing local capacity by increasing the participation of domestic construction companies, consultants and technical professionals in port development projects were also discussed.At the conclusion of the meeting, the Committee underscored the need to expedite measures to ensure that Sri Lanka Ports Authority projects are completed within the stipulated timeframes, strengthen institutional accountability and transparency, and further enhance the Authority's efficiency and profitability as a state-owned enterprise.The meeting was attended by Hon. Members of Parliament Ajith P. Perera, Manjula Suraweera Arachchi, Chathura Galappaththi, Ravindra Bandara, Dhanushka Ranganath, and Shantha Padma Kumara, as well as the Secretary to the Ministry of Ports and Civil Aviation, the Chairman and Managing Director of the Sri Lanka Ports Authority, and other relevant officials.
2026-07-30
The Hon. Minister of Housing, Construction and Water Supply Dr. Susil Ranasinghe stated that action will be taken, based on the recommendations of a committee appointed to examine housing projects that were commenced during previous administrations but left incomplete due to various reasons.The matter was discussed at the meeting of the Ministerial Consultative Committee on Housing, Construction and Water Supply, held in Parliament under the chairmanship of the Minister.The Minister said that consideration is being given to allocating funds through the 2027 Budget to implement a new programme to complete these housing projects.He noted that a number of housing projects initiated in previous years had been abandoned midway because the loans and grant funding allocated for them had not been fully disbursed. According to the Minister, there are nearly 5,000 such incomplete housing units.Accordingly, a five-member committee, co-chaired by two former Secretaries to the Ministry, has been appointed to identify housing units that are in a condition suitable for use and to make recommendations on the future course of action regarding those projects.The Minister stated that the committee has already commenced its work by gathering information on the relevant housing projects, identifying houses that are fit for occupation, and formulating recommendations on the measures to be taken.He further said that final decisions regarding the abandoned housing projects will be made based on the recommendations submitted by the committee.The Minister also announced that assistance will be provided next year to families requiring support to complete partially constructed houses. It is expected that approximately 2,000 families will benefit from this programme.Meanwhile, Members of Parliament who attended the Committee meeting raised issues relating to the housing and water supply sectors in their respective electorates.The Ministry also agreed to convene a special meeting, with the participation of all relevant stakeholders, to discuss housing-related issues, including housing projects for low-income families in the Colombo District.
2026-07-30
The Committee on Public Finance (CoPF) held an extensive discussion on the first Annual Report for 2025 of the Public Debt Management Office (PDMO), which was established under the Public Debt Management Act, No. 33 of 2024.The discussion took place when the Committee met in Parliament recently under the chairmanship of Hon. Member of Parliament Dr. Harsha de Silva, with the participation of Hon. Members of Parliament Ravi Karunanayake, Ajith Agalakada, Nimal Palihena, Attorney-at-Law Chithral Fernando, Wijesiri Basnayake, M.K.M. Aslam, Thilina Samarakoon, and Attorney-at-Law Lakmali Hemachandra.The Committee paid particular attention to the impact on public debt servicing arising from the increase in the public debt stock during 2025, fluctuations in interest rates, and the depreciation of the Sri Lankan Rupee. The importance of coordination between the Central Bank of Sri Lanka and the Ministry of Finance in public debt management was also discussed.It was explained that the Public Debt Management Office (PDMO) was established under the Public Debt Management Act, No. 33 of 2024 to consolidate public debt management under a single institution. Its key responsibilities include managing public debt, ensuring debt sustainability, formulating the Medium-Term Debt Management Strategy, and submitting the Annual Public Debt Management Report to Parliament.The Committee also held an extensive discussion on the shortage of human resources within the PDMO and the need to provide its officers with specialized training in international financial markets and modern debt management practices. Officials also briefed the Committee on capacity-building programmes being implemented with technical assistance from the International Monetary Fund (IMF).The Committee instructed officials to submit the Training Needs Assessment (TNA) report being prepared for the PDMO within two weeks.It was further revealed that the report is expected to serve as the basis for identifying knowledge and skills gaps among PDMO staff, developing a structured annual training plan, identifying training requirements in technical areas such as international financial market operations, debt management and risk management, and planning the budget required for future training programmes.The Committee also focused on government guarantees extended to state-owned enterprises, the progress of debt restructuring, and future measures required to further strengthen transparency and efficiency in public debt management.
2026-07-22
The draft Terms of Reference (ToR) prepared for the Parliamentary Caucus for Open Parliament Initiative was approved recently at a meeting held in Parliament with the participation of Parliament's development partner organizations.The approval was granted during a meeting of the Caucus chaired by its Co-Chair, Hon. Member of Parliament Shanakkiyan Rajaputhiran Rasamanickam.The draft Terms of Reference was developed based on proposals and recommendations received during a workshop organized by the Caucus in recent months to gather stakeholder input for its preparation.The meeting also agreed that, following the approval of the Terms of Reference, the document would be submitted to Hon. President, and that a discussion would be held with the President on behalf of the Caucus.
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