Rebuilding Sri Lanka Fund lies idle

Cyclone Ditwah – Victims still in camps

Monies donated by various donors and organisations in a special account of the Deputy Secretary to the Treasury account (DST account)

‘Rebuilding Sri Lanka’ Fund yet to be established as statutory fund as proposed by the government

Fund established aiming to rebuild the country following the severe devastation

The government appointed a Management Committee headed by Deputy Minister of Finance and Planning Anil Jayantha and include representatives from both the public and private sectors

By Ajith Siriwardana 

While many people affected by the Ditawah cyclone are still languishing in safe centres or in temporary locations waiting to be relocated, it was revealed yesterday that the ‘Rebuilding Sri Lanka’ Fund established aiming to rebuild the country following the severe devastation has not been utilised.   

The Attorney General’s Department informed the Committee on Public Finance that no funds received by the ‘Rebuilding Sri Lanka’ Fund have been utilised and that monies donated by various donors and organisations are there in a special account of the Deputy Secretary to the Treasury account (DST account).   

Upon being questioned by the Chairman of the Committee on Public Finance Dr. Harsha De Silva asked whether there is a particular fund called ‘Rebuilding Sri Lanka’ Fund which could be audited, an official of the Attorney General’s Department said ‘Rebuilding Sri Lanka’ Fund has not been established as yet.   

The official said a cabinet decision has been taken to establish ‘Rebuilding Sri Lanka’ Fund as a statutory fund and that it has not been done so far and that monies donated to the fund are credited to a special DST account.  

“According to the new Public Finance Management Act, non-statutory funds cannot be established. Only statutory funds can be established. A cabinet decision has been taken to establish the ‘Rebuilding Sri Lanka’ Fund as a statutory fund. It has not been done as yet,” the official said.  

The CoPF Chairman questioned whether the particular DST account could be audited for which the AG’s Department said the account could be audited as it comes under the scope of the Finance Ministry.   

“The amendment that non-statutory funds cannot be established was brought in after the controversy of the Helping Hambantota fund. So, these funds must be audited and find out whether the fund is utilised efficiently,” Dr. De Silva said.   

According to Deputy Finance Minister Anil Jayantha Fernando, ‘Rebuilding Sri Lanka’ Fund had received RS. 9,583 million as at April 24, 2026.  Cabinet approved a proposal to establish the ‘Rebuilding Sri Lanka’ Fund, aimed at rebuilding the country following the severe devastation caused by Cyclone ‘Ditwah’ and that the government proposed to establish as a statutory fund under the Presidential Secretariat.   

The government appointed a Management Committee headed by Deputy Minister of Finance and Planning Anil Jayantha and include representatives from both the public and private sectors. The government opened several accounts to make contributions to the fund by any donor, local or overseas, either in Sri Lankan Rupees or in any foreign currency, to a Bank of Ceylon account -Deputy Secretary to the Treasury and Central Bank of Sri Lanka accounts for overseas donations such as US Dollar (USD), Euro (EUR), Pound Sterling (GBP), Japanese Yen (JPY) and Australian Dollar (AUD).