Former minister Harin Fernando said that although millions of rupees have been received in donations for the Rebuilding Sri Lanka project, the amount translates into a very small sum when converted into US dollars.

He made these remarks at a media briefing held on 15 December.

Fernando warned that Sri Lanka could head towards a major economic collapse after the upcoming Sinhala and Tamil New Year, stressing that the country could face a severe crisis by April or May if there is no proper plan in place.

“We do not want Sri Lanka to keep falling,” he said. “The country collapsed due to an economic crisis, suffered setbacks after the tsunami, endured political turmoil, and was hit again by Covid-19. Another crisis would be extremely difficult for Sri Lanka to bear.”

He added that without a clear framework, plan, programme, and financial projections, the country risks sliding into a serious economic disaster in the coming months. “Write this date down. Remember that we warned you today,” he said.

Fernando also referred to speculation about substantial financial assistance expected from India, including claims of billions in funding. While welcoming any support, he questioned how such funds would be managed.

“If money is coming, we are happy. But how will it be managed? Will it come as a line of credit, a loan, or a grant? How will it be used? What committee is overseeing this?” he asked.

Referring again to the Rebuilding Sri Lanka initiative, Fernando said it had reportedly raised around Rs. 1.8 billion so far, which he described as a very small amount in dollar terms.

He emphasised that his criticism was not directed at donors. “We are grateful to the people of Sri Lanka and those overseas who are contributing. We are not discouraging donations or saying people should not support Rebuilding Sri Lanka,” he said. “What we are asking for is transparency. This must be brought before Parliament.”