Former UNP Deputy Leader and MP Ravi Karunanayake has questioned whether the government is planning to privatise the Bank of Ceylon and People’s Bank, while calling for greater transparency over the country’s financial policies.
Speaking at a media briefing, the former Finance Minister reiterated his call for the immediate appointment of a Parliamentary Select Committee to investigate what he described as arbitrary actions by the Central Bank of Sri Lanka. He said more than 40 opposition MPs have already signed a proposal seeking the committee’s appointment.
Karunanayake also urged the government to take immediate action regarding the National Development Bank (NDB) and strongly criticised the Central Bank’s current monetary policy.
He claimed that although the government and the Central Bank maintain that the rupee is stable, an artificial float exists behind the scenes, with the public ultimately bearing the economic burden. He further argued that despite receiving IMF funding, the government has imposed a heavy tax burden on the public and should clearly outline its future economic programme.
The MP also alleged that there is a secret plan to privatise the country’s two largest state-owned banks—the Bank of Ceylon and People’s Bank.
In addition, Karunanayake called for the immediate conduct of Provincial Council elections, saying they are essential to safeguard democracy. He also criticised what he described as internal disagreements within the ruling party.
Concluding his remarks, he warned that Sri Lanka is not adequately prepared to face emerging global challenges, including the impact of former US President Donald Trump’s proposed 20 percent tariff policy and climate risks associated with the El Niño phenomenon.
