Sri Lanka’s cabinet has approved a comprehensive ‘National Anti-Corruption Agenda’ incorporating findings from an International Monetary Fund (IMF) technical assistance report, as announced in a government statement.
Key components of the agenda include revising the Anti-bribery law to align with the United Nations Convention Against Corruption and the Financial Action Task Force (FATF) guidelines. The agenda will also integrate several critical measures identified in the IMF governance diagnosis report.
Key measures include:
- Developing an anti-corruption plan for 2025-2029.
- Amending the National Audit Act.
- Introducing measures to combat money laundering and the proceeds of crime.
- Strengthening provisions to file cases against corruption.
- Revising the 2007 Companies Act to enhance provisions on beneficial ownership.
- Implementing a law on state procurement.
- Disclosing tax losses under the Strategic Development Act (SDA) and suspending the SDA until a transparent framework for incentives is established.
- Creating anti-corruption plans for each revenue agency.
- Strengthening the Judicial Services Commission and the Right to Information.
Additionally, a new management plan for the Employees Provident Fund will be prepared, and the State Owned Enterprise Reform policy will be implemented.