2026-02-05 / Second Reading Debate: Institute of Real Estate Professionals Bill, Container Depot Operators Licensing Bill, and Licensing of Shipping Agents Amendment Bill - Member Contributions 2026-02-05
## Summary
Hon. (Mrs.) Geetha Herath spoke in support of the Institute of Real Estate Professionals, Sri Lanka Bill, arguing that the current absence of a regulatory framework has produced conflicts, opacity, and financial irregularities flagged by the Financial Intelligence Unit, and that the Bill would establish professional standards, strengthen investor confidence, and support national development. She noted the coexistence of overlapping bodies—including a Companies Act-registered entity and the Institute of Valuers—as evidence of the need for clear legal structure, and referenced the University of Sri Jayewardenepura's longstanding Estate Management programme. She also briefly endorsed the Container Depot Operators Bill and amendments relating to shipping and freight licensing as complementary regulatory measures. The member additionally raised a procedural and social concern, noting that the Tenth Parliament contains the highest number of women Members in Sri Lanka's history and calling on the House to condemn what she characterized as targeted abuse and social media smear campaigns against female parliamentarians, warning that such conduct sets a harmful precedent for violence against women in broader society.
Mr. Speaker, I wish to make a few points on the Institute of Real Estate Professionals, Sri Lanka Bill. Sri Lanka has professional bodies for many fields; this Bill seeks to establish a professional institute for real estate practitioners. We do not intend to discriminate against any profession. Since 1972, the University of Sri Jayewardenepura has offered a B.Sc. in Estate Management and Valuation, a programme designed to meet professional needs in real estate management, development and valuation.
However, in 2008, a real estate and valuation body was registered under the Companies Act, while the Institute of Valuers also exists. The absence of a proper regulatory framework has led to conflicts and court action. Therefore, the Bill seeks to create a clear legal framework and professional standards, ethics and effective property management practices within the real estate sector.
Real estate professionals contribute to economic growth through construction, housing and property investment, adding to GDP and creating jobs. With increasing urbanization and domestic and foreign investment, their role is vital.
At present, the lack of a regulatory framework has led to opacity, unregulated operations and potential financial irregularities, as identified by the Financial Intelligence Unit. By establishing a proper framework, we can strengthen investor confidence, develop property data infrastructure, improve professional recognition and welfare, and contribute to national development.
In addition, today we debate the Licensing of Container Depot Operators Bill and the (Amendment) Bill to license Shipping Agents, Freight Forwarders, Non‑Vessel Operating Common Carriers and Container Operators. These measures are necessary for an effective regulatory regime as we pursue rapid economic growth and rebuild the country. The public entrusted us with this responsibility, and in 2025 we took decisive steps—stabilizing the economy, strengthening state institutions and upholding the rule of law. During the recent cyclone, we managed the disaster response and have allocated significant supplementary funds to restore infrastructure and support long‑term resilience.
This Tenth Parliament also has the highest number of women Members—22, including the Prime Minister—20 of whom are on the Government side. Yet we often see women subjected to abuse by the Opposition, including smear campaigns on social media. Such conduct must be rejected, because it also encourages violence against women outside this House. We must prevent such precedents.
The Opposition has little ground to criticize our programme, so they resort to social media attacks. Yesterday, we celebrated Independence Day. Even in difficult times, that day strengthens our resolve to rise again. Our Government is moving forward on a strong foundation of development. Thank you.