2024-01-12
News Categories : Committee News
It was revealed during the Committee on Ways and Means that the Central Bank of Sri Lanka is currently in the process of moving from the "Lanka Pay" system to Central Bank Digital Currencies (CBDCs) and will reach its final stage at the end of this year.
This information was disclosed when the Committee on Ways and Means met in Parliament recently (Jan. 10) under the Chairmanship of Hon. Patali Champika Ranawaka, Member of Parliament, to discuss the introduction of an electronic money system for the financial market and the use of blockchain technology.
Representatives of the Ministry of Finance, Economic Stabilization and National Policy, Central Bank of Sri Lanka, Attorney General's Department, Information and Communication Technology Agency and scholars related to this field were called before the Committee for this discussion.
Due to the lack of a financial registry, there is an unregulated market in 45% of the country, and there was a discussion at length regarding the introduction of a digital currency unit and an electronic payment platform for transactions and the use of blockchain technology to regulate it.
Commenting on the matters presented by the representatives of the Central Bank of Sri Lanka the Chair of the Committee stated that the Central Bank of Sri Lanka should focus on whether and how blockchain technology can be used in the activities of the main revenue collection agencies of the Government of Sri Lanka, namely the Inland Revenue Department, Sri Lanka Customs and Sri Lanka Excise Department.
In response, the Central Bank officials stated that basically there is a possibility to do so and the Central Bank of Sri Lanka is already using blockchain technology for investigations related to identification of individuals. Furthermore, the officials representing the Central Bank mentioned that since the cost of moving directly to the blockchain technology is high, there is a possibility of reaching that goal gradually. In order to achieve that goal, the Committee also pointed out the importance of motivating the customer to do more electronic transactions through digital banking.
Moreover, the Central Bank officials stated that although there is legal permission for digital banking in Sri Lanka, no bank has made requests for fully digital banking. Furthermore, the Chair pointed out that the central bank did not give instructions to use the QR code system for fuel, but to use it for financial transactions without abolishing it. He emphasized the importance of using this "QR Code" method for important sectors of the Sri Lankan economy such as transportation and electricity.
The Committee Chair also instructed the officials of the Central Bank to study the process of digitization in adapting India and Bangladesh to the use of electronic transactions and digital currencies and to submit a report within 2 weeks to the Committee on the methods and procedures regarding the challenges and solutions and its background.
State Ministers Hon. Lasantha Alagiyawanna, Hon. Sisira Jayakody, Members of Parliament Hon. Ashok Abeysinghe, Hon. (Prof.) Charitha Herath and Hon. Ishak Rahuman, were present at the committee meeting held.
2025-02-16
The Local Authorities Elections (Special Provisions) Bill approved by the Ministerial Consultative Committee on Public Administration, Provincial Councils and Local Government. The approval was received when the Ministerial Consultative Committee on Public Administration, Provincial Councils and Local Government met in Parliament today (Feb. 14) under the chairmanship of Hon. Minister (Prof.) A.H.M.H. Abayaratne. The annual reports of the Distance Learning Center for the years 2021 and 2022 were also considered by the Committee and approved. The Hon. Deputy Minister Ruwan Senarath, Deputy Ministers, Members of the Committee, Hon. Opposition Leader Sajith Premadasa, Members of Parliament and government officials were present in this committee meeting.
2025-02-13
A meeting to discuss the Action Plan of the Women Parliamentarians’ Caucus was held on 07.02.2025 under the patronage of Hon. Prime Minister Dr. Harini Amarasuriya and the Chairperson of the Caucus Hon. Minister of Women and Child Affairs, Mrs. Saroja Savitri Paulraj. The Caucus discussed the possibility of enhancing women’s representation by achieving 25% women’s representation at the Provincial Level. Accordingly, the Caucus looked at the mechanisms of bringing in amendments to the prevailing law for the implementation of the said proposal at the upcoming election. The Women Parliamentarians’ Caucus also decided on meeting with various political parties and party secretaries to demand the appointment of women and increase women representation in the Provincial and Local Government bodies. Moreover, matters such as the elimination of sexual harassment at the workplace and the elimination of Sexual and Gender Based Violence (SGBV) was also taken into consideration. During the meeting, plans to mark the International Women’s Day which falls on March 8th, were also discussed. Deputy Co-Chairpersons of the Caucus Hon. Member of Parliament (Mrs.) Chamindrani Kiriella (Attorney-at-Law) and Hon. Member of Parliament (Mrs.) Samanmali Gunasinghe and Members of Parliament, (Mrs.) Rohini Kumari Wijerathna, (Mrs.) Geetha Herath, Attorney at Law, (Mrs.) Sagarika Athauda (Attorney-at-Law), (Ms.) (Dr) Kaushalya Ariyarathne, (Mrs.) Oshani Umanga, (Ms.) Krishnan Kalaichelvi, (Mrs.) Nilanthi Kottahachchi (Attorney-at-Law), (Mrs.) M.A.C.S. Chathuri Gangani, Nilusha Lakmali Gamage, (Mrs.) A.M.M.M. Rathwaththe, (Mrs.) Deepthi Wasalage, (Mrs.) Hiruni Wijesinghe (Attorney-at-Law), (Ms.) Ambika Samivel and (Ms.) Lakmali Hemachandra (Attorney-at-Law) were also present at this meeting.
2025-02-13
A joint initiative between the Fisheries and Trade Ministries to sell fish through the Lanka Sathosa ChainMinistry of Fisheries to extend attention regarding the renovation of existing ports in the northern and eastern provinces The Hon. Minister of Fisheries, Aquatic and Ocean Resources, Ramalingam Chandrasekar stated that necessary measures are being taken to prevent Indian fishermen from illegally entering Sri Lankan territorial waters.He expressed these views during the first meeting of the Ministerial Consultative Committee on Fisheries, Aquatic and Ocean Resources which was held in Parliament, recently (Feb. 07) under his Chairmanship. The Hon. Deputy Minister of Fisheries, Aquatic and Ocean Resources, Rathna Gamage, was also present at the Committee meeting held.Accordingly, the Hon. Minister Ramalingam Chandrasekar stated that discussion is underway with Tamil Nadu and the Indian High Commissioner to resolve this issue regarding Indian fishermen. He further mentioned that a swift resolution to this issue, which has affected local fishermen, would be provided without resorting to conflicts.Furthermore, extensive discussions were also held on initiating a joint program between the Ministries of Fisheries and Trade to sell fish through Lanka Sathosa. Expressing his views on this matter, the Hon. Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, stated that there are plans to expand Lanka Sathosa network in the future and that the necessary arrangements could be made to sell fish through these stores. Officials representing the Ceylon Fisheries Corporation, commenting on the matter, stated that they are looking forward to promptly implementing the required measures to sell fish through Lanka Sathosa. Accordingly, they further stated that plans are in place to package the relevant fish varieties in a manner that makes them more convenient for consumers to prepare.During this meeting, various issues pertaining to the fisheries industry across the country were brought to the attention of the relevant officials by the Hon. Members of Parliament. Extensive discussions were held within the Committee on matters such as illegal fishing using prohibited nets and dynamite, issues related to Freshwater fisheries, and issues pertaining to domestic harbors. Expressing his views, the Committee Chair instructed the relevant officials to take necessary actions regarding the said issues. Additionally, he stated that the Ministry is paying more attention to the renovation of harbors in the Northern and Eastern provinces and is working towards resolving the existing issues.Moreover, The Annual Report of the Fishery Board Statutory Corporation for the year 2021 and the Annual Performance Report of the Department of Fisheries and Aquatic Resources for the year 2023 were also considered and approved in the Committee.This committee meeting was attended by Hon. Ministers, Hon. Deputy Ministers, Committee Members including Hon. Members of Parliament, and officials from the Ministery of Fisheries, Aquatic and Ocean Resources, among others.
2025-02-07
Hon. Deputy Minister of Provincial Councils and Local Government, P. Ruwan Senarath to lead the Sub-Committee The Chair of the Ministerial Consultative Committee on Public Administration, Provincial Councils and Local Government Hon. Minister of Public Administration, Provincial Councils and Local Government (Prof.) A.H.M.H. Abayarathna recommended the establishment of a special sub-Committee consisting of 08 members to identify the necessary policy changes in the public service. This was special sub-committee established when the Ministerial Consultative Committee on Public Administration, Provincial Councils and Local Government met recently (Feb. 05) under the Chairmanship of the Hon. Minister (Prof.) A.H.M.H. Abayarathna in the Parliament premises. The subcommittee was established under the leadership of the Hon. Deputy Minister of Provincial Councils and Local Government, P. Ruwan Senarath. Hon. Members of Parliament Chandana Sooriyaarachchi, Ajantha Gammeddage, Dharmapriya Dissanayake, Dinindu Saman, (Mrs.) Geetha Herath, Attorney at Law, Lal Premanath and Muhammad Faizal were appointed as the other members to the said Committee. The primary objective of this subcommittee is to conduct the necessary investigations and identify policy changes required in key aspects of the public service, such as appointments, competitive examinations, retirements, and vacancies. The findings and recommendations will be submitted to the Ministerial Consultative Committee. The need for such a subcommittee was initially proposed by Hon. Member of Parliament Chandana Sooriyaarachchi, following which the Chairman approved the appointment. Additionally, discussions were held regarding existing vacancies in Divisional Secretariat Offices and Local Government institutions. Officials who attended the meeting highlighted that in 2024, the services of 8,435 individuals in Local Government institutions has been made permanent. Furthermore, a comprehensive staff review of all Local Government institutions is currently underway, with the final report expected by March 31, 2025. Once completed, the relevant data will be provided to the Department of Management Services for necessary appointments. Officials also clarified that employees recruited for specific projects will not be made permanent. Moreover, discussions were held regarding the competitive examination process for appointing Grama Niladhari officials. Members of Parliament and government officials including members of the committee were present at this Committee meeting held.
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