Minister of Finance (Sri Lanka) explained

Post:Minister of Finance
Body:Sri Lanka
Nativename:Sinhala; Sinhalese: මුදල්, ආර්ථික ස්ථායිකරණ සහ ජාතික ප්‍රතිපත්ති අමාත්‍ය
Tamil: நிதி, பொருளாதார நிலைப்படுத்தல் மற்றும் தேசிய கொள்கைகள் அமைச்சர்
Insignia:Emblem of Sri Lanka.svg
Insigniasize:50
Department:Ministry of Finance
Incumbent:Ranil Wickremesinghe
Incumbentsince:25 May 2022
Appointer:The President with advice of Prime Minister
Inaugural:Junius Richard Jayewardene
Formation:26 September 1947

The Minister of Finance[1] (Sinhala; Sinhalese: මුදල්, ආර්ථික ස්ථායිකරණ සහ ජාතික ප්‍රතිපත්ති අමාත්‍ය; Tamil: நிதி, பொருளாதார நிலைப்படுத்தல் மற்றும் தேசிய கொள்கைகள் அமைச்சர்) is an appointment in the Cabinet of Sri Lanka. The post was created in 1947 when Ceylon gained independence as Sri Lanka.

History

The position of Treasurer of Ceylon of the British Government of Ceylon dates back to the early nineteenth century and was succeeded by the post of Financial Secretary of Ceylon under the recommendations of the Donoughmore Commission. The post of Ministry of Finance and the Treasury of Ceylon was established in 1947 under the recommendations of the Soulbury Commission under the Ceylon Independence Act, 1947 and The Ceylon (Constitution and Independence) Orders in Council 1947.[2] A young J.R Jayawardena, became the first Minister of Finance of independence Ceylon. Over time the Ministry took over the policy planning which it currently undertakes.

Beginning 4 April 2022, Ali Sabry was appointed as the new minister, replacing Basil Rajapaksa (brother of President Gotabaya Rajapaksa) in the position; However, due to the worsening of the financial crisis, Sabry tendered his resignation 5 April 2022, having served only a day in office;[3] [4] However, Sabry later decided to continue serving in the capacity of finance minister.[5]

Prime Minister Ranil Wickremesinghe was appointed finance minister by President Gotabaya Rajapaksa. Upon assuming the Presidency himself, Wickremesinghe remained Finance Minister.[6] [7]

List of Finance Ministers

Parties (10) (9) (1) (3)
NamePortraitPartyTenureGovernmentMinisterial title
Junius Richard Jayewardene
(1st term)
26 September 1947 – 13 October 1953 Don Stephen SenanayakeMinistry of Finance and the Treasury of Ceylon
Oliver Goonetilleke
(1st term)
14 October 1953 – 30 June 1954 John Kotelawala
1 July 1954 – 18 February 1956 Ministry of Finance
12 April 1956 – 22 November 1959 S. W. R. D. Bandaranaike
Wijeyananda Dahanayake
22 November 1959 – 5 December 1959
Oliver Goonetilleke
(2nd term)
21 March 1960 – 23 April 1960 Dudley Senanayake
J. R. Jayewardene
(2nd term)
United National Party24 April 1960 – 20 July 1960
Felix Dias Bandaranaike
(1st term)
21 July 1960 – 24 August 1962 Sirimavo Bandaranaike
28 August 1962 – 8 November 1962
9 November 1962 – 10 May 1963
29 May 1963 – 10 June 1964
N. M. Perera
(1st term)
11 June 1964 – 17 December 1964
27 March 1965 – 25 March 1970 Dudley Senanayake
N. M. Perera
(2nd term)
10 May 1970 – 2 September 1975 Sirimavo Bandaranaike
Felix Dias Bandaranaike
(2nd term)
3 September 1975 – 18 May 1977
23 July 1977 – 18 January 1988 Junius Richard Jayewardene
18 January 1988 – 3 January 1989
18 February 1989 – 31 August 1994
30 September 1994 – 5 December 2001
Chandrika Kumaratunga
12 December 2001 – 2 April 2004
14 April 2004 – 22 November 2005
23 November 2005 – 9 January 2015
Ravi Karunanayake12 January 2015 – 22 May 2017
Mangala Samaraweera22 May 2017 - 17 November 2019
22 November 2019 – 8 July 2021Gotabaya Rajapaksa
8 July 2021 – 4 April 2022
4 April 2022 – 9 May 2022
Ranil Wickremesinghe25 May 2022 – Present
Ranil Wickremesinghe

List of Parliamentary secretaries

Deputy ministers

See also

External links

Notes and References

  1. Web site: Extra Gazette No. 2281/41 of 27.05.2022 (Duties and Functions). documents.gov.lk. 2022-06-10.
  2. Web site: 1942 Ferguson's Ceylon Directory . Ferguson's Directory . 30 July 2021.
  3. News: Sabry appointed as Sri Lanka's finance minister . 5 April 2022 . Reuters . 4 April 2022.
  4. News: Sri Lanka's finance minister resigns a day after being sworn in - letter . 5 April 2022 . Reuters . 5 April 2022.
  5. News: 8 April 2022 . Sri Lankan Finance Minister Who Quit After A Day Returns To Position . New Delhi Television Ltd . 11 April 2022.
  6. News: PTI . 2022-05-25 . Sri Lanka PM Ranil Wickremesinghe appointed Finance Minister by President Gotabaya Rajapaksa . en-IN . The Hindu . 2022-08-10 . 0971-751X.
  7. News: 2022-07-22 . Sri Lanka president expected to keep finance portfolio - source . en . Reuters . 2022-08-10.