Press briefing of Cabinet Decision taken on 2018-01-02

Formulation of the Finance Commission Act

- It has been proposed to enact legislation to vest the powers required further with the Finance Commission in order to discharge the functions assigned to the Finance Commission in terms of the Constitution more effectively. Accordingly, the proposal made by H.E. the President Maithripala Sirisena, to instruct the Legal Draftsman to draft a Bill incorporating the powers required by the Finance Commission to perform its assigned functions taking also into consideration the proposals of the Sub-Committee appointed by the Finance Commission to make a study in that regard, was approved by the Cabinet.