The World Bank has emphasized the urgent need for energy sector reforms in Sri Lanka, warning that the country continues to face significantly higher energy costs compared to others in the region. This was highlighted during consultation meetings between a World Bank delegation, led by Country Manager Gevorg Sargsyan, and key parliamentary finance oversight committees.
The delegation first met with Dr. Harsha de Silva, Chair of the Committee on Public Finance (CoPF), and its members, followed by a joint consultation with Dr. Nishantha Samaraweera, Chair of the Committee on Public Enterprises (COPE); Kabir Hashim, Chair of the Committee on Public Accounts (COPA); and Wijesiri Basnayake, Chair of the Committee on Ways and Means, along with members of their respective committees.
The Committee Chairs expressed their appreciation to the World Bank for its continued support for Sri Lanka’s development over the years, according to the Department of Communication of Parliament.
During the consultations, World Bank officials stressed the urgent need for energy sector reforms, noting the country’s comparatively high energy costs. Developments in the ports and logistics sector were also discussed as critical to national growth.
The delegation further highlighted the need to rights-size the public sector and improve overall productivity, pointing out that Sri Lanka maintains one of the largest public sector workforces with relatively low wage levels compared to peer countries.
Committee members briefed the World Bank officials on the mandates and oversight functions of their respective committees. Discussions focused on key areas for reform and growth, including improving revenue collection, creating jobs, eradicating poverty, enhancing women’s participation in the economy, and strengthening sectors such as tourism, education, agriculture, and entrepreneurship.
The consultations also underscored the importance of establishing efficiently run Public-Private Partnerships (PPPs) as an alternative to full privatization. World Bank officials shared successful international case studies where well-structured PPPs contributed to improved service delivery and sustainable economic development.
These meetings highlight the commitment of both the Parliament of Sri Lanka and the World Bank to strengthen institutional collaboration and drive sustainable economic development. Stephan Massing, Senior Operations Officer, World Bank Group; Victor Anthonypillai, Senior Country Officer, IFC; and M. Jayalath Perera, Acting Director of Legislative Services and Director of Communication of Parliament, were also present.
