Former Prime Minister Ranil Wickremesinghe today in Parliament called on the House to engage the youth protesting on the streets and invite them to discuss the current crisis and possible solutions.
He also tabled a set of proposals for discussion which would see Parliament extend their control over public finances. These included further empowering committees such as COPE and COPA and Committe on Public Finance to extend oversight over the accounts and expenditure. He also urged that capital expenditure be halted, and divestment of state assets be halted until Parliamentary approval is provided.
The former PM, while extending his full support to re-implementation of the 19th Amendment, called for the complete removal of the 20th Amendment. He further criticised the recent Cabinet appointments, stating that not even 4 Ministers had attended Parliament today.
A copy of the proposals for discussions tabled in Parliament is below along with a copy of the speech.
Whereas the unsustainable external debt, the collapse of the currency and serious shortfall in government revenue amongst others have resulted in a declaration of bankruptcy by those in Government; and
AND Whereas Article 148 of the Constitution vests full control of Public Finance in Parliament – which principle has been reinforced by the Supreme Court time and time again, including in the recent Supreme Court determination SCSD1-9 of 2022; and
AND Whereas anything done in contravention of Article 148, including any decision or measure taken, without Parliament’s approval and/or authority, is invalid and/or void;
AND Whereas Article 43 of the Constitution subjects the Cabinet of Ministers to the oversight and direction of Parliament, and, similarly, Article 42 provides that the President shall be responsible to Parliament;
AND Whereas the current circumstances require Parliament inter alia to ensure good governance and for that purpose to exercise its powers under the Constitution including Articles 43 and 148.
IN THE CIRCUMSTANCES, it is hereby resolved that the following immediate measures be taken:
1. The Parliament shall in the exercise of its powers, empower
(i) The Committee on Public Finance to inquire and report on the state of public finance including amending the Appropriation Act 2022 to ensure
financial provisions for the protection of vulnerable groups;
(ii) The Committee on Public Enterprises to inquire and report on the financial position of the state owned enterprises
(iii) Temporarily suspend all capital expenditure on new projects including expansion projects of state-owned enterprises;
(iv) Suspend all alienations, including sales and/or leases, of State controlled and/or owned assets or enterprises. Any decision by Government to dispose above mentioned assets/enterprises must first be informed to Parliament.
2. Call upon the Prime Minister to submit a statement on the position regarding the supply of food, medicine, fertiliser and fuel until August 2022;
3. To establish the oversight committees of Parliament under Standing Order III.
4. To appoint the following committees of Parliament:
(i) Ways and Means Committee to report on the measures necessary to mobilise additional revenue for the Government;
(ii) A Banks and Financial Services Committee to report on the financial position of Banks and Financial Service enterprises and the measures needed to ensure the stability and continuance of the financial sector including a safety net; and
(iii) An Economic Stabilisation Committee to report amongst other matters on the measures taken by the Government to restore macro-economic credibility.
5. Ensure that the Monetary Board conforms to its objectives stated in Section 5 of the Monetary Law and that the Central Bank refrains from deficit financing without the approval of Parliament;
6. Establish a Parliamentary Budget Office;
7. Appoint a Select Committee
(a) To examine and report on the persons responsible for
(i) Floating the currency
(ii) Denying the unsustainability of the external debt, thereby causing bankruptcy, and
(b) To re-examine the State Accounts for the years 2020, 2021 and 2022.
8. Appoint a Select Committee to examine and Report on measures need to strengthen the Parliament’s control on Public Finance including new Fiscal Management (Responsibility) Act. The Committee shall take into consideration the following:
(i) Budget Responsibility and National Audit Act 2011(UK)
(ii) Public Finance Act (New Zealand)
(iii) Fiscal Management (Responsibility) Act (New Zealand)
(iv) Financial Administration Act (Canada)
(v) Public Finance Management Act (South Africa)
(vi) Public Financial Management and Central Law (Turkey)
(vii) The UK Practices and Procedures for the Control of Public Finance
including the Code of Fiscal Responsibility, Public Expenditure Plan,
Spending Review and Clear line of Sight Reforms
9. The honourable Speaker be empowered to take all measures necessary to implement this resolution.
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