Acting President Ranil Wickremesinghe is the frontrunner - but deeply unpopular with the public.
A total of 225 parliamentarians are eligible to vote on Wednesday. If a contender receives more than half of the preferential vote, they win the position outright.
Mr Alahapperuma is a senior MP from the governing Sri Lanka Podujana Peramuna - the Rajapaksa's party which swept to victory in a landslide in the last elections. Opposition leader Sajith Premadasa was initially expected to run for president, but in a last-minute twist on Tuesday he withdrew from the race, saying it was for the "greater good" of the country.
Mr Wickremesinghe, a six-time prime minister who has never served a full term, is perhaps the most contentious of the three candidates.Sri Lankans have been angered by queues for basics like fuel and food for months
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