Press briefing of Cabinet Decision taken on 2023-08-14

Establishment of the National Productivity Commission

- It is necessary to develop the productivity of all sectors of the economy in order to bring the benefits achieved by the reforms implemented with the aim to mitigate the impact of the current economic crisis to a maximum level and to ensure the medium and long-term sustainability of those reforms. However, there is no legally responsible institution in this country to address the issues related to productivity. Therefore, it has been identified the necessity of the establishment of the National Productivity Commission as an independent body to look into the issues related to productivity and recommend to the government on policy directions based on research-based evidence and data. Accordingly, the proposal made by the Hon. President to appoint an Experts Committee to determine the organizational structure of the proposed National Productivity Commission, compilation of required legislation for the establishment of the said Commission and to study the other matters that need to be addressed in relation to the establishment of the said Commission, and submit a Report to the Cabinet, was approved by the Cabinet.