Press briefing of Cabinet Decision taken on 2021-03-08

Amendments to the Industrial Promotion Act No.46 of 1990

- It has been found that the provisions of the existing Industry Promotion Act, No.46 of 1990 is inadequate to make industrial policies which assist to fulfil timely requirements of the industrial sector relating to technology, trade, skills and environmental concerns. Accordingly, the proposal made by the Minister of Industries to appoint a Steering Committee chaired by the Secretary to the Ministry of Industries and comprising of representatives of relevant government institutions, private sector industry organizations / chamber of industries with a view to preparing a draft Bill to amend the Industry Promotion Act, No.46 of 1990 to suit with the present, was approved by the Cabinet.