Willing to Clarify on Economic Issues

 Central Bank Chief Says Officials Can Appear Before Parliament 

Central Bank Governor Dr. Nandalal Weerasinghe has stated that Central Bank representatives are ready to appear before Parliament to directly answer questions raised by Members of Parliament on economic matters, if there are delays in the usual process of providing written responses.

Dr. Weerasinghe made these remarks when Central Bank officials were summoned before the Committee on Public Finance this week.

During the session, Committee Chairman Dr. Harsha de Silva highlighted that Members of Parliament often raise questions about key economic issues such as monetary policy, inflation, and exchange rates, but the absence of a direct Central Bank representative within Parliament frequently leads to delays or incomplete answers.

Responding to these concerns, Dr. Weerasinghe explained the existing procedure. When a Member of Parliament submits a question, it is first directed to the Minister of Finance. The Ministry then refers the query to the Central Bank for clarification or data, after which the Bank provides its response through the Ministry.

Dr. Weerasinghe assured the Committee that the Central Bank always responds to these questions within the timeframe they're officially received through the Finance Ministry. However, he acknowledged that delays can occur if the overall coordination process between institutions is not carried out promptly.

Will respond to a  formal invitation 

He further pointed out that some questions raised in Parliament are not solely related to the Central Bank but also concern several agencies, including the Ministry of Finance and other financial institutions. In such cases, it is the responsibility of the Finance Minister to compile information from all relevant bodies and submit a consolidated response to Parliament.

Nevertheless, the Governor emphasised that if the Central Bank receives a formal invitation, its representatives would have no objection to appearing before Parliament in person to respond directly to MPs’ questions on economic or financial issues.

“If Parliament requests our presence, our officials are fully prepared to appear and provide explanations firsthand,” Dr. Weerasinghe told the Committee.

The discussion is part of a wider effort by the Committee on Public Finance to strengthen transparency and improve communication between key financial institutions and the legislature on matters affecting Sri Lanka’s economic stability.