The Economic Transformation bill, poised for imminent gazetting, marks a significant stride in Sri Lanka’s economic trajectory, as announced by Cabinet Spokesman Minister Bandula Gunawardena. Crafted by the Legal Draftsmen, with input from the Attorney General, the bill’s formal draft, brimming with revisions, is set to grace the pages of the government gazette. Following this publication, it will make its way to Parliament for deliberation and endorsement.
At its core, the bill heralds the establishment of pivotal economic mechanisms: an economic commission, investment zones, and an international trade office, as elucidated by Minister Gunawardena in previous statements. These measures, embedded within the bill, promise not only structural overhauls but also quantitative and qualitative enhancements, strategically tailored to propel future economic growth and development.
Representing a crucial component of Sri Lanka’s legal reform agenda, the bill is a linchpin in aligning the nation’s legal framework with the prerequisites of the International Monetary Fund’s Extended Fund Facility program. Its enactment signifies a concerted effort to modernize and optimize economic governance, underscoring the government’s commitment to fostering a conducive environment for sustainable prosperity and global competitiveness. As the bill awaits its parliamentary journey, it stands as a beacon of hope and progress, poised to usher in a new era of economic dynamism and resilience.