2023-09-20
News Categories : Committee News
Hon. Wajira Abeywardana stated that when the Central Bank declared financial bankruptcy, an entire country failed.
The Member of Parliament stated the above when the Select Committee of Parliament to Investigate Causes for Financial Bankruptcy declared by the Government and to Report to Parliament and Submit its Proposals and Recommendations in this regard met recently (Sep. 15) Chaired by Hon. Sagara Kariyawasam in Parliament.
Hon. Wajira Abeywardana and the former Central Bank Governor Ajith Nivard Cabraal were called before the Committee.
The statements made by the Member of Parliament Hon. Wajira Abeywardana on September 1st, 2022 and February 10th, 2023 regarding financial bankruptcy were inquired at the Committee meeting held.
Addressing the Committee Hon. Wajira Abeywardana pointed out that according to the Constitution, the power of financial control vets with the Parliament and because of follwoing a wrong process, the Central Bank declared the country's financial bankruptcy on 12.04.2022. The Parliamentarian pointed out that as a result of this, the whole country fell into trouble.
Hon. Wajira Abeywardana pointed out that in the first quarter of 2022, $3.9 billion was to be paid and by April 8th, 2022, $3.2 billion had been paid. He pointed out that by April 12th, about 70 million dollars had to be paid to China and in that context, the Central Bank declared financial bankruptcy on April 12th effortlessly. The Parliamentarian pointed out that this is a wrong process and this should not have happened and there was potential to get support from the private sector and pay this amount. As a result, he pointed out that a large number of officials of the Central Bank are responsible for the situation in the country and certain individuals were not standing by Sri Lanka at that point in time. Therefore, the Member of Parliament further mentioned that people who stand with Sri Lanka should be given a high chair.
He also quoted a statement made by the current President, Hon. Ranil Wickremesinghe, on April 8th, 2022, when he was a Member of Parliament. He also commented on the submission of about 70 amendments to the recently presented Central Bank Act by the Supreme Court.
Addressing the Committee, the former Central Bank Governor Ajith Nivard Cabraal pointed out that the declaration of financial bankruptcy was the result of a long-term effort by several groups. The new Central Bank Governor declared financial bankruptcy on the first day of his appointment, i.e. April 12th, he said. He also pointed out that this is a declaration of debt default made without any national or institutional level discussion.
The former Central Bank Governor Ajith Nivard Cabraal pointing out 3 main points in particular and accordingly, indicated that the announcement of financial bankruptcy on April 12th, 2022, how the bankruptcy took place and the fall in the value of the rupee will be discussed here. He explained at length how the declaration of financial bankruptcy was made on April 12th, 2022, and stated that he would elaborate on the other two points on a future date due to time constraints.
The Committee Chair, Hon. Sagara Kariyawasam, stated that there is an opinion that the governor of the Central Bank ran away at a difficult time for the country and he needs to give an explanation in this regard. Former Governor Ajith Nivard Cabraal said that on 03.04.2022, all the Cabinet Ministers met and took a decision to resign from the Cabinet and because he was also present at this occasion, he too felt obligated to take the same decision. But he pointed out that it does not amount to running away.
The Committee Chair, Member of Parliament Hon. Sagara Kariyawasam stated that it is important to get a good understanding regarding this matter so that something like this does not happen in the future.
Minister Hon. (Mrs.) Pavithradevi Wanniarachchi, Members of Parliament Hon. S. B. Dissanayake, Hon. Jayantha Ketagoda, Hon. (Dr.) Major Pradeep Undugoda, Hon. Sanjeeva Edirimanna, Hon. Nalaka Bandara Kottegoda were present at the Committee meeting held.
2025-06-02
The Glocal Fair program was initiated before receiving cabinet approval, and the cabinet paper was submitted for cabinet approval during the program. The Sri Lanka Bureau of Foreign Employment has not yet received the Rs. 100 million because the Rataviru Housing Loan Program, jointly implemented with the Samurdhi Authority in 2013, resulted in the non-implementation of the Memorandum of Understanding signed. The Sri Lanka Bureau of Foreign Employment has removed itself from regulatory duties – COPE It was disclosed at the Committee on Public Enterprises (COPE) that the Sri Lanka Bureau of Foreign Employment has spent more than Rs. 1 billion on two programs that were not included in the annual action plan for 2024 and were implemented without any plan. Accordingly, more than Rs. 63 million has been spent on the 'Vigamanika Harasara' program, aimed at organizing three provincial-level meetings with the participation of 5000 members of migrant associations, initiated by the Ministry of Labour and Foreign Employment in 2024. In addition, more than Rs. 1259 million has been spent on the 'Glocal Fair' program, held across the island with the intention of making services provided by all institutions affiliated with the Ministry of Foreign Employment available to beneficiaries at their places of residence. These matters were disclosed at the COPE meeting held on the May 23rd under the chairmanship of (Dr.) Nishantha Samaraweera, Member of Parliament, which met at Parliament to examine the audit reports for the financial years 2022 and 2023 of the Sri Lanka Bureau of Foreign Employment and its current performance. At this meeting, the Chair of the Committee stated that the Glocal Fair program had been initiated prior to receiving Cabinet approval and that the relevant Cabinet memorandum had been submitted for approval while the program was being implemented. He also pointed out that only Rs. 2 million is allocated annually for such programs, raising questions as to whether spending as much as Rs. 1259 million had actually achieved its intended objectives. He questioned the officials on this matter. Further, the Committee inquired into the purchase of a trade stall for Rs. 170,000 during the initial phase of the Glocal Fair program and the subsequent acquisition of a trade stall at a cost of Rs. 500,000. The Chairman of the Committee emphasized that significant funds allocated for productive programs have instead been wasted on unplanned and purposeless programs. Moreover, it was revealed during the Committee that the 'Rataviruwo' housing loan program implemented in collaboration with the Sri Lanka Samurdhi Authority in 2013 had not been carried out in accordance with the five-year Memorandum of Understanding signed, and as a result, Rs. 100 million due to the Bureau has not yet been received. However, officials informed the Committee that the Sri Lanka Samurdhi Authority has now agreed to release the amount. The Committee questioned the number of beneficiaries who received housing loans under this program, but the officials responded that they do not possess such data. Accordingly, the Committee Chairman stated that no follow-up has been conducted on this program and instructed the officials to submit a comprehensive report covering the full timeline of the 'Rataviruwo' housing loan program from inception to date. It was also pointed out by Hon. Members of Parliament participating in the Committee that the Sri Lanka Bureau of Foreign Employment has acted beyond its regulatory mandate. The Committee emphasized the urgent need to devise a plan to utilize the Bureau’s current fixed deposits amounting to Rs. 18 billion more effectively. Furthermore, the Committee inquired about actions taken concerning the inactive Kuwait Compensation Fund, which had a balance of Rs. 5.1 billion as of December 31, 2023. Officials informed the Committee that plans have been made to use this fund to provide necessary training for domestic workers going abroad and to establish a pension scheme for migrant workers. The Committee also discussed financial fraud committed by employment agencies that have charged unjustified fees from migrant workers. It was clarified during the Committee that every migrant worker traveling independently must be registered with the Sri Lanka Bureau of Foreign Employment and pay a registration fee to the Bureau. Similarly, even when employment agencies facilitate foreign employment, the workers must pay the registration fee to the Bureau, of which 70% is refunded to the respective agencies. However, due to fraudulent activities where independently migrating workers are falsely recorded as agency-facilitated workers, the Committee Chairman decided to appoint a sub-committee to investigate the related financial fraud. Hon. Members of Parliament Anuradha Jayaratne, Attorney at Law, Mujibur Rahman, M.K.M. Aslam, (Mrs.) Nilanthi Kottahachchi, Attorney at Law, Samanmali Gunasingha, Mayilvaganam Jegatheeswaran, (Dr.) S. Sri Bavanandaraja, Sujeewa Dissanayake, Jagath Manuwarna, Ruwan Mapalagama, Sunil Rajapaksha, Darmapriya Wijesinghe, Asitha Niroshana Egoda Vithana, (Dr.) Pathmanathan Sathiyalingam, Thilina Samarakoon, Chandima Hettiarachchi, Dinesh Hemantha, and Lakmali Hemachandra, Attorney at Law were present at the Committee meeting held.
2025-05-28
Hon. Member of Parliament Ajith P Perera was elected as the Chairman of the Sectoral Oversight Committee on Infrastructure and Strategic Development. The election was held during the inaugural meeting of the Committee for the Tenth Parliament, convened yesterday (May 27) at the Parliament complex. In line with a prior agreement between the ruling party and the opposition, the chairmanship of this particular Sectoral Oversight Committee was to be offered to a member of the opposition. Accordingly, the name of Hon. MP Ajith P Perera was proposed for the chairmanship by Hon. MP Nalin Bandara Jayamaha and seconded by Hon. MP Jagath Vithana. Subsequently, the National Transport Commission (Amendment) Bill, which is scheduled to be debated for the second reading in Parliament on 5th of June, was discussed here and officials from several relevant institutions including the Ministry of Transport, Highways, Ports and Civil Aviation were present. The officials said that this amendment bill was presented by including provisions to solve the practical issues that the Transport Commission had been facing for a long time and the bill was approved by the committee. The basic issues regarding the fundamental changes that should be made in the transport sector were also discussed here. Hon. Members of Parliament Manjula Suraweera Arachchi, Danushka Ranganath, Asitha Niroshana Egoda Vithana and Shantha Pathma Kumara Subasingha were also present in this committee meeting.
2025-05-27
(Dr.) Janaka Senarathna, Hon. Member of Parliament representing the National People's Power, was elected as the Chair of the Sectoral Oversight Committee on Science, Technology and Digital Transformation. Hon. Member of Parliament was elected today (May 27), during the inaugural meeting of the said Sectoral Oversight Committee of the Tenth Parliament, held in Parliament. Among the 7 Sectoral Oversight Committees established for the Tenth Parliament, this Committee is one of the 4 for which the Chair is elected from the governing party. The name of (Dr.) Janaka Senarathna was proposed for the position of Chair by Chathuranga Abeysinghe, Hon. Deputy Minister of Industry and Entrepreneurship Development, and was seconded by Hasara Liyanage, Attorney at Law, Hon Member of Parliament. Furthermore, during this Committee meeting, the Personal Data Protection (Amendment) Bill, scheduled for its Second Reading on 2025.06.03, was reviewed and approved. Accordingly, the debate for the Second Reading of the Personal Data Protection (Amendment) Bill is scheduled to be held on Tuesday, June 03rd. Chathuranga Abeysinghe, Hon. Deputy Minister of Industry and Entrepreneurship Development, and Hon. Members of Parliament Lasith Bhashana Gamage, Hasara Liyanage, Attorney at Law, and Chandima Hettiarachchi were present at this Committee meeting held as members of the Sectoral Oversight Committee on Science, Technology and Digital Transformation.
2025-05-26
Hon. Speaker, (Dr.) Jagath Wickramaratne emphasized that in order to make the legislative process more effective, it is essential that Parliamentary Committees are equipped with the necessary knowledge and tools while safeguarding the principles of good governance.The Hon. Speaker made these remarks at the opening session of a two-day conference held on the 22nd and 23rd, aimed at raising awareness among Members of Parliament serving in Sectoral Oversight Committees on the existing procedures and methods related to the legislative process.The orientation for the members of the Sectoral Oversight Committee was organized by the Parliament of Sri Lanka in collaboration with the Max Planck Foundation for International Peace and the Rule of Law, and was held in Parliament under the patronage of the Hon. Speaker.Expressing his views at the event, Hon. Speaker, (Dr.) Jagath Wickramaratne stated that the experiences gained through this conference would enable Hon. Members of Parliament to carry out the functions of Sectoral Oversight Committees more successfully. He extended his gratitude to the Max Planck Foundation for their continued cooperation in strengthening democratic institutions in Sri Lanka and pointed out that their commitment to promoting the rule of law and good governance has contributed to enhancing the capacity of the Sri Lankan Parliament.The conference featured contributions from Professor Enrico Albanesi of the University of Genoa, Praveen Chacko Ninan, Research Fellow at the Max Planck Foundation, and Legal Advisor Methmini Wijesinghe of the same foundation.Delivering the keynote address, Praveen Chacko Ninan discussed the technical methods applicable to legislative activities and briefed the Members of Parliament on how to analyze and review draft bills. He also introduced practical technical methodologies and standards for evaluating draft legislation.Furthermore, Professor Enrico Albanesi elaborated on how draft legislation should be reviewed in accordance with the rule of law. He educated the Members on relevant legal norms, various guidelines, and fundamental principles applicable to such evaluations.Among those present at the event were Hon. Chief Opposition Whip Gayantha Karunathilleka, Hon. Members of Parliament, Chief of Staff and Deputy Secretary-General of Parliament Chaminda Kularatne, Director Legislative Servises / Director Communication (Acting) M. Jayalath Perera, along with officials representing the Offices of the Leader of the House, the Chief Government Whip, and the Leader of the Opposition.
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