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Colombo Port City Economic Commission Bill Govt. hopes to pass the bill with amendments on May 18 or 19

10 May 2021 - {{hitsCtrl.values.hits}}      

  • Will include whatever amendments the SC may make
  • Also will seek the support of the opposition
  • The project will bring an extra 80 million dollars additional GDP and generate around 100,000 jobs

By Yohan Perera 

The government hopes to get the Colombo Port City Economic Commission Bill passed with Amendments on May 18 or 19, State Minister of Finance, Money, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal said over the weekend.

Speaking during a webinar organised by the International Chamber of Commerce, the State Minister said there will be amendments for which the government had agreed on plus whatever amendments the Supreme Court may make. 

“We hope to get the legislation passed either on May 18 or on 19 and we will make a few amendments which we have already agreed on. We will also include whatever amendments which the Supreme Court may make,” the State Minister said. 
“Government is looking for a bipartition approach and thereby seeking the support of the Opposition. We began the initial work on Port City in 2013 and the former Prime Minister and the previous government also continued it. Therefore we expect the opposition to support us as this project will be a turning point of Sri Lanka’s economy,” he added. 

He said the project will bring extra 80 million dollar additional GDP and generate around 100,000 jobs. “The investors will be able to get their projects attended and cleared speedily. You cannot expect the investors to come in and have surprises. They need to know what they are going to get as time goes on,” he added. 

Having asked whether the Port City would be under the legislature, the State Minister said it will be established with the approval of Parliament and if it is not approved it will stand null and void. 

“ We are confident that the project would be a success as we will be able to attract investors as Sri Lanka’s economy has begun to bounce back especially with the stabilisation of the rupee,” he also said.