Thirty five opposition MPs handed over the motion to the speaker some months ago.
It accuses Karunanayake of misleading the House and the public to get passage of the 2016 budget and making it a meaningless document.
All parties in the government will vote against it and demonstrate the power of the regime, said chief government whip Gayantha Karunatilake.
Members of the government parliamentary group have been told to be present at the House today, he said.
Meanwhile, the UPFA too, has told its MPs to attend the parliamentary session without fail.
The JVP has decided to support the motion, while the 16 TNA MPs, led by opposition leader R. Sampanthan, are yet to take a decision.
The debate on the motion will take place from 9.30 am to 6.30 pm, after which a vote will be taken.
The no-confidence motion against finance minister Ravi Karunanayake today (08) should be defeated by a two-third parliamentary majority, the government has decided.
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