2026-03-03 / Debate: Foreign Exchange Act Order under Section 22 of the Foreign Exchange Act, No. 12 of 2017 2026-03-03
## Summary
Hon. Mahinda Jayasinghe highlighted the government's economic achievements, citing foreign reserves of USD 6.8 billion, growth in worker remittances, and strong tourism performance, while arguing that overseas workers' foreign exchange earnings are being prudently protected — contrasting this with what he characterised as wasteful foreign travel expenditure by previous administrations. He specifically noted that President Dissanayake conducted seven official visits to eight countries at a total cost of only Rs. 14.94 million, compared to what he described as billions spent on foreign travel under the Rajapaksa and Wickremesinghe presidencies.
Jayasinghe rejected opposition criticism, arguing that the Leader of the Opposition — a senior minister in the 2015–2019 government — presided over a decline in GDP growth from approximately 5% to 2% and accumulated USD 12 billion in International Sovereign Bonds, and was therefore not credible in offering policy advice. He also accused the opposition and allied media of deliberately manufacturing and amplifying the recent fuel queue crisis to gain political advantage, characterising the opposition as unable to mobilise public support independently. He concluded by contrasting his party's parliamentary conduct with what he described as disruptive behaviour by previous government benches.
Hon. Presiding Member, by the end of last year we had built up foreign reserves of USD 6.8 billion; we increased worker remittances; we grew tourism earnings. After 2018, 2025 has been one of the best years for tourism; over 500,000 tourists have already arrived so far this year. Therefore, we are strengthening our foreign reserves and bringing in foreign exchange to the country.
A large share of our foreign exchange today comes from our compatriots working in the Middle East, who face many difficulties. As a Government, we are taking every possible measure for their safety and wellbeing. We must protect the foreign exchange they earn for this country with such sacrifice, and in the last year and a half we have shown clearly how we safeguarded it.
Our President, Comrade Anura Dissanayake, has undertaken seven official visits to eight countries in the period under review, at a total cost to the State of only Rs. 14.94 million. How did others handle foreign exchange when they were in office? During 2010–2015, under Mahinda Rajapaksa, spending on foreign travel was in the billions; during 2015–2019 under Maithripala Sirisena as well; Gotabaya Rajapaksa too incurred significant costs; and during Ranil Wickremesinghe’s short tenure, spending on foreign travel was also substantial. This is how the foreign exchange of the country was squandered then. We, as a Government, are committed to widening the necessary facilities so that the foreign exchange we bring in is invested prudently and productively.
Now the Opposition levels various accusations. We heard the Leader of the Opposition offering us plenty of “advice” — even the President said, “Please!” I too say, please — no more of that advice. It was under that very “advice” that the country reached this point. The Leader of the Opposition was a powerful Minister in the 2015–2019 Government — the Maithri–Ranil–Sajith administration. If their advice was so good, they should have put the country on the right path then. Instead, they dragged growth down from around 5% to about 2%, loaded us with USD 12 billion in ISBs, and built a mountain of debt. Why did Sajith not give the right advice then? So, please, spare us that advice now.
The National People’s Power (NPP) is a Government that adapts to changing global conditions and responds to change — not one that stands still. But the Opposition seems destined to remain in Opposition. They are a political camp that always lives by others’ light — lately, by those stoking fuel queues. We saw how they rushed to support protesting officials outside the Presidential Secretariat, writing letters and giving assurances, trying to shine by someone else’s light. They did the same at fishermen’s protests. Recently they tried once more to live by the light of those at the oil queues. Despite their best efforts — aided by a certain TV channel that thrives on sensational “voice cuts” — the fuel queues have largely subsided. Indeed, that very channel is now airing clips mocking those queues.
It was the Opposition and their friendly media who manufactured this crisis — creating a problem that did not exist, agitating the public, and now blaming us. We never, at any time, needlessly agitated the people. Even in Opposition, we led on genuine issues; now, in Government, we are intervening to resolve problems and provide leadership. So, do not try to shine by another’s lamp; if you can, do something on your own and show it. Even at a monks’ gathering, the Opposition Leader tried to sit in the front row to bask in borrowed light. They cannot do anything alone — they couldn’t muster even fifty for a protest at Polduwa Junction; only ten or twelve showed up.
Every morning some Members make a scene in this Chamber for amusement, then post it on their social media to harvest “likes.” That is okay; unlike previous Government benches, we will not jump into the well of chaos, throw bottles, or fling chilli powder. Do not expect such conduct from us.