2026-06-17
News Categories : Committee News
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.
2026-08-24
The Sectoral Oversight Committee on Governance, Justice and Civil Protection focused on obtaining the views and proposals of the Police Department on measures that could be taken to reduce overcrowding in prisons.At a recent meeting of the committee held at Parliament under the chairmanship of Hon. Member of Parliament Dr. Najith Indika, discussions focused particularly on the Police Department’s procedures from the arrest of suspects in connection with drug-related offences through to the filing of cases, as well as on removing existing legal obstacles affecting these processes.The committee also discussed delays in proceedings relating to drug-related cases, delays in obtaining reports from the Government Analyst, and the resulting increase in the number of suspects being held in remand custody.It was emphasized that, in combating drug-related offences, it is necessary not only to arrest individuals but also to use modern technology to identify and control drug-trafficking networks and the illegal financial transactions associated with them. The need to introduce appropriate regulatory mechanisms to prevent the misuse of digital money-transfer systems operated by telecommunications companies by drug traffickers for illegal financial transactions was also highlighted.The meeting also discussed the need to strengthen community-based rehabilitation programmes as an alternative to imprisoning persons addicted to drugs, increase public participation in crime prevention, and amend existing laws to bring them in line with current requirements.Views were also expressed on the need to establish a modern forensic laboratory within the Police Department in order to expedite criminal investigations. It was pointed out that speeding up the analysis of scientific evidence could accelerate court proceedings and thereby help reduce prison overcrowding.In addition, attention was given to improving the welfare of police officers, enhancing their professional training and investigative skills, and strengthening mechanisms for evaluating police performance.Members of the committee who attended the meeting included Hon. Members of Parliament Ajith P. Perera, G.G. Ponnambalam, Mujibur Rahman, M.K.M. Aslam, Dr. Sellathamby Thilakanathan, Dharmapriya Wijesinghe, Chandana Suriyaarachchi, and Major General (Retired) G.D. Sooriyabandara.Secretary to the Ministry of Public Security and Parliamentary Affairs D.W.R.B. Seneviratne, Inspector General of Police Attorney-at-Law Priyantha Weerasuriya, and a number of senior officers of the Police Department were also present at the meeting.
2026-08-24
Focus on financial administration, wastewater management, and research allowancesThe Committee on Public Enterprises (COPE) of the Parliament met recently (Aug. 19) at Parliament, chaired by Hon. Member of Parliament Dr. Nishantha Samaraweera, to examine the Auditor General’s reports relating to the University of Peradeniya for 2023 and 2024, as well as its current performance. The University of Peradeniya had also been summoned before the COPE on the 5th of this month for discussions on these matters, and the committee met again for a second day as a continuation of those discussions.During the meeting, extensive discussions were held on the University’s financial administration, wastewater management, payment of research allowances, institutional governance, and future development plans.Particular attention was given to the University’s wastewater system, including the environmental impact caused by the discharge of wastewater from several student hostels. It was also revealed that, due to delays in the project to connect the University’s wastewater system to the Kandy Municipal Wastewater Project, the original estimated cost had increased from Rs. 464 million to Rs. 1.4 billion. Officials informed the committee that Rs. 2 billion in funding had been obtained through JICA to proceed with the project.The committee also focused on the 68 bank accounts maintained by the University, as well as a large number of accounts associated with various funds. The committee questioned the continued maintenance of certain accounts even after the completion of the projects to which they related, as well as the absence of centralized monitoring of information concerning the funds.Special attention was also given to the payment of research allowances. It was revealed during the discussion that research allowances had been paid to 59 officers belonging to the non-academic and executive staff without approval from the Research Management Committee and without obtaining research reports. It was further stated that, as of 30 June 2023, 28 of those officers had still not submitted the relevant research reports. The committee emphasized that research allowances must be used exclusively for research activities and that research proposals, progress reports, and final reports must be obtained in accordance with the prescribed procedures. While research activities should be encouraged, the committee pointed out that the use of research allowances as an additional salary or remuneration could not be approved under any circumstances.The committee also questioned the existence of positions and the payment of allowances without the approval of the Department of Management Services (DMS). The committee instructed the University to take steps to legally regularize all positions and payments that do not comply with government financial regulations and existing laws and regulations.Meanwhile, COPE emphasized the need for the University’s future development plans to be prepared with clear Key Performance Indicators (KPIs). The committee also instructed that development programmes, including wastewater and solid-waste management and the construction of a new clinical block, be implemented expeditiously.The committee further stressed the need to provide specific and direct responses to audit queries, properly disclose financial information relating to all funds and accounts, and promptly implement the recommendations made by the Auditor General.The meeting was attended by Members of Parliament Attorney-at-Law Dayasiri Jayasekara, Attorney-at-Law Lakmali Hemachandra, Sunil Rajapaksha, Chandima Hettiarachchi, Dinesh Hemantha, Samanmali Gunasinghe, Attorney-at-Law Nilanthi Kottahachchi, Thilina Samarakoon, Sudath Balagalla, and retired Lieutenant Commander Prageeth Maduranga.
2026-08-21
The second programme in the “Voice to Policy” series of regional dialogue programmes, organized by the Parliamentary Caucus for the Open Parliament Initiative, is scheduled to be held for the youth of Batticaloa District on August 29 at the East Lagoon Hotel in Batticaloa.The organizational arrangements for the programme were discussed at a meeting held recently (Aug. 19) at Parliament under the leadership of the Co-Chairpersons of the Parliamentary Caucus for the Open Parliament Initiative, Hon. Minister Prof. Krishantha Abeyasena and Hon. Shanakiyan Rasamanickam.The workshop series is being organized with the aim of further promoting the concept of an Open Parliament through the participation of youth representatives. Members of the Parliamentary Caucus, as well as Members of Parliament representing the Batticaloa District, are expected to participate in the event.The workshops are intended particularly to raise awareness among young people about parliamentary affairs, the legislative process and the principles of an Open Parliament, while further strengthening the relationship between Parliament and citizens.Young people aged 18–35 from Batticaloa District who wish to participate in the workshop are required to complete the relevant registration form via https://forms.gle/aVp5UzhLbtPSmVap8 and register before August 24. The Caucus also informed participants that they should wear clothing without symbols promoting any political party or movement.Members of the Parliamentary Caucus and representatives of CII (Coalition for Inclusive Impact), the development partner providing sponsorship for the workshop series, also participated in the meeting.In addition, a virtual discussion was held during the meeting with representatives of the INTER Pares, focusing on the possibility of obtaining their support for the Caucus’s future activities. Mr. Sanjaya Vignaraja, Country Director of the Westminster Foundation for Democracy (WFD), who contributed to coordinating the discussion, also participated in the meeting.
2026-08-18
The Committee on High Posts has approved the appointments of one Ministry Secretary and three chairpersons to government statutory boards and institutions.Accordingly, the Committee approved the appointment of Dr. Anil Jasinghe as Secretary to the Ministry of Health and Mass Media; Mr. S.A.M. Peiris as Chairman of the Colombo Lotus Tower Management Company (Pvt) Ltd.; Mr. H.M.P. Ratnayake as Chairman of Kurunegala Plantations Limited; and Dr. (Mrs.) W.M.V. Wanasinghe as Chairperson of the National Insurance Trust Fund.The meeting was chaired by the Hon. Prime Minister (Dr.) Harini Amarasuriya and was attended by the Hon. Minister Ramalingam Chandrasekar, the Hon. Members of Parliament Kumara Jayakody, and Dayasiri Jayasekara, Attorney at Law.
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