Press briefing of Cabinet Decision taken on 2024-03-25 (Subject to Confirmation at the next Meeting)

Economic Transformation Bill

- Approval of the Cabinet has been granted at its meeting held on 2024-03-04 to instruct the Legal Draftsman to prepare the Economic Transformation Bill. The Initial Draft for the Economic Transformation Act has been prepared including the main objectives of the National Policy on Economic Transformation and incorporating necessary provisions enabling the establishment of the key Institutions namely Economic Commission, Investment Zone Sri Lanka, Office for International Trade, Sri Lanka Institute of Economics and International Trade and National Productivity Commission, to support the Government to achieve those objectives. Accordingly, the proposal made by the Hon. President to instruct the Legal Draftsman to prepare the Bill and submit expeditiously, incorporating the amendments submitted by the Attorney General, was approved by the Cabinet.