2025-09-02
News Categories : Committee News
The Sectoral Oversight Committee on Economic Development and International Relations reviewed the performance of the Ministry of Industry and Entrepreneurship Development and the performance of the five institutions under it.
This took place recently in Parliament under the Chairmanship of Hon. Member of Parliament Ms. Lakmali Hemachandra, Attorney at Law. Hon. Minister of Industry and Entrepreneurship Development Sunil Handunnetti and Hon. Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe also participated in the Committee meeting held.
Accordingly, the performance reports of the Ministry of Industry and Entrepreneurship Development for the years 2023 and 2024, the annual reports of the National Gem and Jewellery Authority for the years 2022 and 2023, the annual report of the Gem and Jewellery Research and Training Institute for the year 2023, the annual reports of the Sri Lanka Export Development Board for the years 2021, 2022, and 2023, the annual reports of B.C.C. Lanka Limited for the financial years 2021/2022 and 2022/2023, and the annual reports and accounts of the National Salt Company for the financial years 2021/2022 and 2022/2023 were reviewed and subsequently approved.
Attention was drawn to the issues prevailing in the country’s industrial sector. The Secretary to the Ministry of Industry and Entrepreneurship Development pointed out that several issues, including the allocation of land to investors according to existing procedures, have persisted for a long time. Accordingly, it was revealed that the process of allocating land for a new industry could take more than 4 years. The Secretary also stated that, according to international concepts, generally 3% of a country’s land area should be allocated for industries, whereas in Sri Lanka this figure stands at only 0.01%.
It was also discussed that in the past, land was not allocated for industries in accordance with a national plan, but rather due to political or other reasons, resulting in various problematic situations. Accordingly, officials revealed that plans are now in place to allocate 50,000 acres of suitable land for industries across the island. The Committee recommended that a report be submitted, in consultation with the Land Reforms Commission, the Urban Development Authority, and the Sri Lanka Export Development Board, on the steps that could be taken and the future plan in this regard.
Attention was also drawn towards the current performance and issues of the National Gem and Jewellery Authority. Officials stated that steps will be taken in the future to merge the National Gem and Jewellery Authority with the Gem and Jewellery Research and Training Institute.
The current performance of the Sri Lanka Export Development Board was also taken into consideration. Officials stated that this is the only institution in the country responsible for promoting and developing exports, and that 5-year plans have been prepared covering sectors including apparel, tea, rubber, spices, information technology, gems, and jewellery. They further revealed that successfully managing U.S. taxation policies, the country’s largest export market, has been a significant achievement, and that with an export income of around USD 15 billion in 2023, the target is to increase this to USD 28 billion by 2028.
Officials stated that the production activities of the National Salt Company are being carried out with high efficiency. They pointed out that due to changes in climatic conditions, natural salt production has decreased in recent times. Accordingly, it was revealed that plans are in place to establish a facility in the Elephant Pass area to artificially produce salt using modern technology instead of the natural process. Officials further stated that the revenue target of the National Salt Company for this year is Rs. 1 billion, which is a 50% increase compared to the previous year.
It was also revealed that although B.C.C. Lanka Limited, a 192-year-old institution, produces high-quality coconut oil, the company has not obtained quality certifications. The current Chairman of the company informed the Committee that many export opportunities have been lost due to this situation, and that immediate steps have now been taken to obtain SLS, ISO, and other quality certifications.
Members of Parliament Hon. Anuradha Jayaratne, Attorney at Law, Hon. Sivagnanam Shritharan, Hon. Nilanthi Kottahachchi, Attorney at Law, Hon. Kanthasamy Prabu, Hon. Wijesiri Basnayake, Hon. Suranga Rathnayaka, and Hon. Thilina Samarakoon participated in this Committee meeting.
2025-11-22
The document pertaining to the proposed draft Bill of the Microfinance and Credit Regulatory Authority, which is scheduled to be presented to Parliament upon Cabinet approval in the future, was extensively discussed at the Sectoral Oversight Committee on Economic Development and International Relations, Members of the Sub Committee under the Ministerial Consultative Committee on Rural Development, Social Security and Community Empowerment established to identify future steps to resolve the microfinance debt issue, and the Women Parliamentarians' Caucus. This discussion took place on the Nov. 20th, when the Committees met in Parliament under the chairmanship of Hon. Members of Parliament Lakmali Hemachandra, Attorney at Law and Samanmalee Gunasinghe. A group of officials from the Central Bank of Sri Lanka and the Legal Department of the Treasury were also in attendance. Presenting their views, the officials stated that the initial draft related to this proposed Bill was published in January 2024. They further noted that petitions had been filed before the Supreme Court of Sri Lanka regarding the said draft, and that the new draft has been prepared including the amendments ordered to be incorporated by the Supreme Court, the Committee Stage amendments submitted by the Ministry of Finance to the Supreme Court, as well as other policy-related amendments, and the Gazette has now been prepared accordingly. It was stated further that the Bill is expected to be presented to the Tenth Parliament. Accordingly, the officials stated that the objective of the Bill is to establish the Microfinance and Credit Regulatory Authority of Sri Lanka, to regulate the business of money lending and microfinance business, to provide protection to customers of such services, and to repeal the Microfinance Act No. 6 of 2016. The composition of the Board of Directors of this Regulatory Authority was also discussed during the meeting. Hon. Member of Parliament Lakmali Hemachandra, Attorney at Law pointed out that the absence of a member representing the customers of the microfinance business within the Board composition was concerning. It was also highlighted by the Hon. Members that women have been disproportionately affected due to the lack of regulation in the microfinance sector, and therefore the importance of having a Board member representing women was emphasized. Accordingly, the view of the Hon. Members was that a representative from the National Commission on Women, or the Ministry of Women and Child Affairs, or the Secretary to the line Ministry should be appointed as a member of the Board of Directors. Meanwhile, various other matters contained in the draft Bill were also discussed at length. It was stressed that the purpose of the Bill should be to prevent the social crisis and harm that have arisen at ground level due to the operation of microfinance lending activities without any form of regulation. Accordingly, the Committee instructed the officials to incorporate the necessary amendments into the Bill that is to be introduced in the future. The officials stated that such amendments may be introduced at the Committee Stage of the Bill. Members of the Sectoral Oversight Committee on Economic Development and International Relations, members of the Women Parliamentarians’ Caucus of the Parliament of Sri Lanka, Members of the Sub Committee under the Ministerial Consultative Committee on Rural Development, Social Security and Community Empowerment established to identify future steps to resolve the microfinance debt issue, and several officials participated in this meeting.
2025-11-22
Approval of the Committee was granted for eight reports that must be approved by CoPF under the Ministry of Finance Act The overall financial performance up to September 2025 of the major revenue-generating institutions under the Ministry of Finance was reviewed at the meeting of the Committee on Public Finance. This review took place on the Nov. 20th, when the Committee on Public Finance, chaired by Hon. Member of Parliament Harsha de Silva, met in Parliament. Accordingly, officials representing the Inland Revenue Department, the Sri Lanka Excise Department, and the Sri Lanka Customs presented the progress of their respective institutions for review. Officials representing the Public Debt Management Office also provided clarifications regarding the Medium-Term Debt Management Strategy for the period 2026 - 2030 and the borrowing plan for 2026. Furthermore, officials representing the Board of Investment of Sri Lanka explained the progress of the institution. During this discussion, foreign direct investment was reviewed, and officials pointed out that from January to September 2025, USD 827 million in foreign direct investment had been received. Accordingly, the Committee observed that the Board of Investment and other institutions should take effective measures to ensure that foreign investment continues to grow steadily over the coming years. Furthermore, approval was granted for eight reports that must be approved by the Committee on Public Finance, prepared in accordance with the provisions of the State Finance Management Act No. 44 of 2024. Hon. Deputy Ministers Chathuranga Abeysinghe and Nishantha Jayaweera, as well as Hon. Members of Parliament Ravi Karunanayake and Chithral Fernando, Attorney at Law, together with several others, attended this meeting.
2025-11-21
Hon. Minister of Women and Child Affairs, Saroja Savithri Paulraj stated that creating a society with an elevated mindset capable of serving humanity as human beings is the objective of the politics of the government. The Hon.Minister made these remarks during a meeting with representatives of the Eastern Social Development Foundation. She made these remarks on the occasion of the Women Parliamentarians’ Caucus in Parliament held in Parliament recently, (Nov. 17) to discuss improving the political inclusion of women’s groups who do not have representation in local politics. Attention of the Women Parliamentarians’ Caucus was also drawn to further expanding the possibility of obtaining nominations in a manner that represents special population groups living in the country. Furthermore, activities and the future work plan to be carried out under the leadership of the Women Parliamentarians’ Caucus to support the global 16 Days of Activism against Gender-Based Violence (GBV) from November 25 to December 10 were also discussed with representatives of the United Nations Population Fund (UNFPA). Members of the Caucus Hon. Deputy Chairperson of Committees Hemali Weerasekara, Samanmali Gunasingha, Krishnan Kalaichelvi, A.M.M.M. Rathwaththe, Hiruni Wijesinghe, Attorney at Law, Hasara Liyanage, Attorney at Law, Lakmali Hemachandra, Attorney at Law, Geetha Herath, Attorney at Law, and Thushari Jayasingha, Attorney at Law were present at this meeting held.
2025-11-20
The Ministry of Public Administration, Provincial Councils, and Local Government was recently summoned to the Committee Appointed to Review Non-implementation of the Recommendations of the Parliamentary Committees to inquire into the delays in implementing the recommendations made by the Committee on Public Petitions of Parliament. This matter was considered when the above committee met in Parliament on the Nov. 13th under the chairmanship of Hon. Minister Harshana Nanayakkara, Attorney-at-Law. Accordingly, the officials presented at the committee pointed out the practical problems that exist in implementing some of the said recommendations. The Committee was also informed that steps have already been taken to implement some of the recommendations. However, it was decided that the petitioner's views should also be sought regarding the problems arising in the implementation of certain recommendations, and accordingly, it was decided to summon the petitioners to the Committee on another date. The meeting was attended by the Hon. Deputy Minister Sunil Watagala, Attorney-at-Law, Hon. Members of Parliament Ravi Karunanayake, Ajith P. Perera, Attorney-at-Law, and Oshani Umanga
Handbook of Parliament
The System of Elections in Sri Lanka
How Parliament Works
Business of Parliament
Copyright © The Parliament of Sri Lanka.
All Rights Reserved.
Design & Developed by TekGeeks
