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.
2026-09-08
The Co-Chairs of the Parliamentary Caucus for Open Parliament Initiative stated that steps will be taken to present to Parliament the views and proposals put forward during the “Voice to Policy” dialogue series organized for youth, with the aim of promoting the concept of an Open Parliament.They made these remarks while participating in the “Voice to Policy” programme held last Saturday (Sep. 05) at the Golden Crown Hotel in Kandy for youth in the Kandy District. The Co-Chairs of the Parliamentary Caucus for Open Parliament Initiative, Hon. Minister Prof. Krishantha Abeyasena and Hon. Member of Parliament Shanakiyan Rajaputhiran Rasamanickam, participated in the programme.The first programme of the “Voice to Policy” dialogue series was held in the Gampaha District, the second in the Batticaloa District, and the third in the Kandy District. Members of the Caucus, Hon. Members of Parliament S.M. Marikkar, Attorney-at-Law Susanta Dodawatte, Attorney-at-Law Chamindrani Kiriella, Attorney-at-Law Thushari Jayasinghe, Lal Premanath, Major General (Retired) G.D. Sooriyabandara and M.K.M. Aslam, as well as Assistant Secretary-General of Parliament Mr. Hansa Abeyratne and others, participated in the programme held in Kandy.The young people who participated in the programme representing the Kandy District identified the challenges they face under five key themes: economic opportunities and employment; public administration and accountability; social inclusion and justice; political participation and representation; and other matters.They also proposed solutions to the identified issues and identified the relevant government institutions that could be held responsible for addressing them. The young participants subsequently presented the issues and proposals to members of the Caucus. Based on these proposals, an extensive dialogue was held between representatives of the Parliamentary Caucus for Open Parliament Initiative and the youth of the Kandy District.Members of the Caucus stated that their objective is to bring the views and proposals of youth to Parliament. They further assured that steps would be taken to submit to Parliament a report containing the views and proposals presented during the “Voice to Policy” programmes conducted to date, and to take the necessary measures to further engage young people with parliamentary processes and activities.The programme was sponsored by CII (Coalition for Inclusive Impact).
2026-09-07
The Select Committee of Parliament to conduct a comprehensive study on the lack of preparedness to face Cyclone Ditwah and report to Parliament and submit its proposals and recommendations in that regard recently questioned senior officials of the Sri Lanka Police who were involved in responding to the disaster at the time.The questioning took place when the Committee met recently at Parliament under the chairmanship of Hon. Minister (Dr.) Nalinda Jayatissa.Accordingly, a group of Senior Superintendents of Police and Superintendents of Police from the districts affected by Cyclone Ditwah were summoned before the Committee.Former Member of Parliament Nimal Piyatissa was also summoned before the Committee. He was called to provide detailed information regarding comments he made to the media concerning the measures taken in response to the cyclone at the time it occurred.Members of Parliament serving on the Committee also participated in the meeting.
2026-09-07
The 13th meeting of the Parliamentary Caucus for Persons with Disabilities was held recently at Parliament under the chairmanship of Hon. Sugath Wasantha de Silva, Chair of the Caucus.The meeting focused on the draft action plan of the Caucus prepared for the period from July 2026 to June 2027, and discussions were held on its implementation going forward.Prepared with the technical assistance of the International Foundation for Electoral Systems (IFES), the action plan has been developed under four key areas: parliamentary coordination and oversight; budget advocacy and accountability; legal and policy reforms; and accessible and inclusive public services. The meeting discussed future actions relating to each of these areas.IFES Sri Lanka Deputy Director Mr. Indraka Ubesekara, Senior Programme Officer Ms. Anojitha Sivaskaran, and National Council for Persons with Disabilities member Mr. Tikiri Kumara Jayawardena briefed the Caucus on the work carried out to date and the plans for the future.The importance of incorporating the views and needs of persons with disabilities into planning at the local level was also highlighted. Based on the experiences of district-level consultation programmes conducted in Kilinochchi, Mullaitivu, Kalutara and Polonnaruwa, it was noted that a similar programme is scheduled to be held in the Hambantota District in the future.Discussions were also held on establishing an appropriate mechanism to ensure the active participation of the disability community in the preparation of local development plans through district-level accessibility audit committees and district coordinating committees. It was further pointed out that incorporating accessibility features from the initial stages of building and urban planning can help minimize the costly modifications that may otherwise be required at a later stage.The meeting was also informed that a report comprising 234 policy and practical proposals, prepared with the participation of nearly 60 organizations representing the disability community for the 2027 National Budget, has already been submitted to the Presidential Secretariat, the Ministry of Finance and relevant government institutions. The Caucus decided to closely monitor how these proposals are implemented and whether they result in tangible benefits for persons with disabilities.Attention was also drawn to further strengthening the existing legal and policy framework to safeguard the rights of persons with disabilities and ensure accessibility. It was decided to hold a special discussion with officials of the relevant ministries and the Legal Draftsman’s Department to inquire into the progress of the proposed “New Bill on the Rights of Persons with Disabilities” and the “Sign Language Bill”, which are currently being drafted.The meeting also discussed the need to update existing legal provisions and standards relating to accessibility for persons with disabilities in line with international best practices. Proposals were put forward to introduce accessibility guidelines for private-sector institutions and gradually incorporate them into the legal framework, as well as to implement a pilot project with several selected private institutions.Special attention was also given to making public services more accessible and inclusive. The meeting discussed the findings of accessibility audits conducted at the Ministry of Labour’s “Mehewara Piyasa” building and Sethsiripaya Buildings Phases I and II. It was also noted that steps have been taken to ensure that the construction of Sethsiripaya Phase III is designed to be accessible to persons with disabilities from the outset.In addition, programmes such as low-floor bus services, accessible tourism for persons with disabilities, and the “Friendly Cities” programme were identified as models for improving accessibility within public services. Attention was also drawn to removing accessibility barriers faced by persons with disabilities when accessing healthcare services.Addressing the meeting at its conclusion, the Chair of the Caucus, Hon. Sugath Wasantha de Silva, stated that one of the Caucus’s primary objectives is to create an environment in which the disability community can lead free, independent and dignified lives without fear or uncertainty.The Chair further stated that Parliament would continue to fulfil its role in giving priority to the voices of persons with disabilities when making decisions concerning them, and in ensuring their participation in every sector of society. He also expressed his appreciation to all Members of Parliament, IFES and other stakeholders who have contributed to this work.The meeting was attended by Hon. Members of Parliament, including (Dr.) Nihal Abeysinghe, Attorney-at-Law Susantha Dodawatte, Padmasiri Bandara, (Dr.) Elayathamby Srinath, Attorney-at-Law Bhagya Sri Herath and Chandima Hettiarachchi, among others.
2026-09-03
The Committee on Ways and Means of Parliament recently reviewed the operations of Sri Lanka Customs, including its revenue performance. The matter was considered when the Committee met recently under the chairmanship of Hon. Member of Parliament Wijesiri Basnayake.Officials, including the Director General of Customs, informed the Committee that the expected Customs revenue as of June 30, 2026, was Rs. 1,060,559 million, while actual revenue collected by that date amounted to Rs. 1,379,084 million. This represented 130% achievement against the expected revenue target. Officials further informed the Committee that Customs had generated revenue exceeding the monthly targets in every month of the year to date, and that, compared with 2025, higher revenue performance had been recorded in each month.Providing information on vehicle imports in 2026, officials stated that 316,000 vehicles had been imported as of June 30, 2026, generating Rs. 512,547 million in tax revenue. According to the information presented to the Committee, the highest amount of tax revenue, Rs. 386,726 million, had been generated through the importation of motor vehicles.Furthermore, among the categories of commodities generating the highest Customs revenue, petrol motor cars less than 1,000cc ranked first, generating Rs. 137.4 billion. This represented 9.96% of total revenue.The Committee also focused on matters including the volume of imported containers and the procedures followed for their inspection, the introduction of modern technology to improve the efficiency of Sri Lanka Customs operations, challenges in revenue administration, and future plans.Several Members of the Committee on Ways and Means, together with officials representing the Ministry of Finance, Planning and Economic Development and Sri Lanka Customs, participated in the Committee meeting.
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