2026-03-03 / Debate: Foreign Exchange Act Order under Section 22 - Opening Remarks

Hon. Sajith Premadasa

2026-03-03

## Summary Opposition Leader Sajith Premadasa opened by calling on Parliament to collectively condemn both the attack on Iran as a violation of international law under the UN Charter and retaliatory strikes on Gulf states, urging the Government to issue a formal statement and adopt a principled foreign policy position. He argued that Sri Lanka's fuel and gas crises reflect an erosion of public confidence in the Government, citing the reappearance of queues, and criticised the failure to promptly reassure the public with concrete data on fuel reserves. Premadasa proposed renegotiating the IMF programme to make it more "democratic and people-centred," convening an international donors' conference in response to the cyclone and current instability, and strengthening contingency planning for potential disruption to oil supply through the Strait of Hormuz given rising external debt service obligations of US$ 3.5–4.0 billion annually by 2028. He also challenged the credibility of Department of Census and Statistics poverty figures suggesting an individual can subsist on Rs. 16,000–18,000 per month, contending that policy decisions based on such data are fundamentally flawed.

Hon. Deputy Speaker, at the outset we must state our position on the Middle East situation. We strongly condemn the attack on Iran as a violation of international law. Under Article 2(4) of the UN Charter, the threat or use of force is prohibited, and Article 2(7) bars intervention in domestic affairs. Only Article 51 permits force in self‑defence. As a Parliament, we should in one voice condemn the attack on a sovereign country as a violation of sovereignty and territorial integrity. It would be good if the Government issues a statement to that effect. We must also clearly condemn the retaliatory attacks on a group of countries—UAE, Saudi Arabia, Kuwait, Qatar, Bahrain. Amid this turmoil, Sri Lanka must hold a principled, clear and firm position. The President said that if there is an issue among us, we can resolve it; that under Standing Order 27(2), questions receive answers. Yet we are not even allowed to raise the question on substandard coal under SO 27(2)—that is the truth. Be that as it may, you spoke on fuel and gas and the arising crises. From the time you assumed office, we have consistently said the IMF programme must be revisited and renegotiated; your own policy statement refers to changing the Debt Sustainability Analysis. I propose that, alongside your fuel and gas measures, we renegotiate the IMF programme, and convene an international donors’ conference in light of the cyclone and the current situation, for the sake of the country and the people. We are ready to support such a renegotiation; it was your presidential campaign pledge. By 2028, annual external debt service will be US$ 3.5–4.0 billion. Before we reach that cliff, let us revisit the IMF agreement to make it democratic and people‑centred, to safeguard the present and future of 22 million Sri Lankans. The fuel and gas crises are serious and have no easy fixes. But remember: you came to power on public trust. That trust is eroding—as seen in the queues reappearing. It is your duty to prevent queues. When the issue arose, you should have immediately clarified and reassured the country, quantifying diesel and petrol cover; then queues would not have formed. What we see is the erosion of public confidence in the Government. Since day one we have warned that reciprocal tariff measures pose serious risks. International developments show you must better appreciate the global context when taking decisions. I urge stronger contingency and scenario planning. The Strait of Hormuz carries about 20% of the world’s oil flows; severe disruption will hit us. What alternative measures are in place? Poverty and vulnerability are rising—exacerbated by the cyclone and now by the present situation. I draw your attention to recent Department of Census and Statistics (DCS) figures suggesting a single person can live on Rs. 16,000–18,000 per month, including food and non‑food costs. Who believes this? Can one live on Rs. 16,000 or Rs. 18,000 a month? These are DCS figures. We are proceeding on flawed data— Hon. Deputy Speaker: Hon. Leader of the Opposition, you have only two more minutes. Sir, I will take some more time. I have the discretion to do so. We are proceeding on flawed data—it is not mine; these are from the Department of Census and Statistics…