Cabinet Decisions

1. Preparation of N’ Eliya Tourist Development Master Plan

Due to the informal development currently taking place, the beauty of the city of Nuwara Eliya is gradually decreasing, and the tourism industry has been severely affected.

Therefore, the need to prepare a Detailed Tourism Development Master Plan has arisen to create a proper environment suitable for the development of tourism in that area.

Accordingly, the Cabinet of Ministers approved the proposal presented by the President to prepare the Nuwara Eliya Tourism Development Master Plan under the coordination of the President’s Office with the contribution of all relevant parties, to appoint a task force headed by the Governor of the Central Provinces to regulate the construction of new buildings and to limit the construction of new buildings of more than four storeys in the Nuwara Eliya District with effect from 01.05.2023 in accordance with the provisions stipulated by the Urban Development Authority Act.

2. Presenting Regulations issued under Imports and Exports (Regulatory) Act in Parliament

The Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to present the following regulations issued under the Imports and Exports (Regulatory) Act No. 01 of 1969 in Parliament for approval.

• Import Control Regulations on payment terms No. 7 of 2023 published in Extraordinary Gazette No. 2326/40 dated 06.04.2023

• Import and Export (Control) Regulations No. 8 of 2023 published in Extraordinary Gazette No. 2326/41 dated 06.04.2023

3. Immunities and Privileges granted to International Center for Research in Agroforestry and Global Green Growth Institute by Government

According to the provisions of the Diplomatic Privileges Act No. 9 of 1996, the privileges and immunities granted to international organizations operating in this country should be published in the Government Gazette and then submitted to the Parliament.

Accordingly, the Cabinet of Ministers approved the proposal presented by the Minister of Foreign Affairs to publish the relevant privileges and immunities in the Government Gazette as per the provisions of the agreements signed between the International Centre for Research in Agroforestry and Global Green Growth Institute.

4. Introducing Amendments to Sri Lanka Bureau Of Foreign Employment Act No. 21 of 1985

The requirement to make amendments to Sri Lanka Bureau of Foreign Employment Act No. 21 of 1985 according to the contemporary needs has been recognised. Therefore, It is proposed to introduce new provisions to take legal action against parties who have illegally entered the foreign employment field.

It is proposed to introduce new regulations to reduce large-scale irregularities and corruption endangering the foreign employment sector and migrant workers, to regulate the process of recruitment for foreign employment by subagents and to minimize large - scale irregularities and corruptions that endanger the field of foreign employment and migrant workers. Accordingly, the Cabinet of Ministers approved the proposal presented by the Minister of Labour and Foreign Employment to revise the Sri Lanka Bureau of Foreign Employment Act No. 21 of 1985 and to instruct the Legal Draftsman to prepare a bill for this purpose.

5. Obtaining World Bank’s Development Policy Financing Programme for Economic Stabilization and Recovery Programme

In line with the International Monetary Fund’s Comprehensive Funding Facility Programme, the Government of Sri Lanka has implemented a comprehensive economic stabilization and recovery programme with necessary reforms to address macroeconomic challenges.

The World Bank has agreed to support the programme through its Development Policy Financing Programme.

Accordingly, the World Bank will provide its support based on the three key areas of economic governance transformation, growth and competitiveness improvement, and protection of the poor and vulnerable.

Accordingly, the Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to carry out the entire coordination process of the proposed programme by the Presidential Secretariat and to authorize the Department of Foreign Resources to conduct negotiations with the World Bank in relation to obtaining the relevant funds.

6. Obtaining World Bank Funding for Financial Sector Security Network Project

Discussions have been held with the World Bank in regard to obtaining loan facilities of the bank for Sri Lanka Deposit Insurance and Liquidity Support Scheme under Sri Lanka Financial Sector Security Network Project.

The proposed loan amount is expected to be used to strengthen the financial and institutional capacity of the Ceylon Financial Safety Network targeting the Deposit Insurance Scheme with the aim of increasing the strength and efficiency of the financial sector.

This can preserve stability and lead to the resumption of a good financial intermediary system.

Accordingly, considering the proposal forwarded furnished by the President as the Minister of Finance, Economic Stabilization and National Policies, the Cabinet of Ministers decided to grant their policy approval for proceeding with further activities to obtain a loan grant of USD 150 million from the World Bank as an investment project financing.

7. Obtaining special loan facility from ADB for Economic Stabilization Programme

Parallel to the comprehensive funding facility approved by the International Monetary Fund, the Asian Development Bank (ADB) has agreed to provide a special loan facility of United States Dollars 350 million based on policies and another loan grant of United States Dollars 1.5 million as technical assistance in order to strengthen the stability and administration of Sri Lanka.

Accordingly, the Cabinet of Ministers approved the proposal furnished by the President as the Minister of Finance, Economic Stabilization and National Policies to entrust the responsibility to the Secretary to the Ministry of Finance, Economic Stabilization and National Policies for processing the further activities on obtaining the relevant loan grant.

8. Submission of Gazette notifications for Parliament approval

The Cabinet of Ministers granted approval for the resolution furnished by the President as the Minister of Finance, Economic Stabilization and National Policies to submit the orders/rules/regulations/notifications published in the following extraordinary gazette notifications for the concurrence of the Parliament:

• The orders published in the extraordinary gazette notification No. 2312/67 of 31.12.2022 prepared under the provisions of Ports and Airport Development Levy Act No. 18 of 2011

• The rule published in the extraordinary gazette notification No. 2312/73 of 31.12.2022 prepared under the provisions of Stamp Duty (Special Provisions) Act No. 12 of 2006

• The excise notification No. 07/2022 published in the Extraordinary Gazette Notification No. 2312 / 70 of 31.12.2022 prepared under the provisions of Exercise Ordinance (Chapter 52)

• The orders published in the extraordinary gazette notification No. 2312/71 of 31.12.2022 prepared under the provisions of Tobacco Tax Act No. 08 of 1999

• The orders published in the extraordinary gazette notification No. 2312/68 of 31.12.2022 prepared under the provisions of Excise (Special Provisions) Act No. 13 of 1989

• The order published in the extraordinary gazette notification No. 2309/37 of 09.12.2012 prepared under the provisions of the Finance Act No. 25 of 2003 and the rule published in the extraordinary gazette notification No. 2314 / 16 of 11.01.2023

• The regulations published in the extraordinary gazette notification No. 2312/80 of 01.01.2023 prepared under the provisions of the Finance Act No. 11 of 2004

• The notification published in the extraordinary gazette notification No. 2312/ 69 of 31.12.2022 prepared under the provisions of the Finance Act No. 35 of 2018 and the notification published in the extraordinary gazette notification No. 2318 / 53 of 10.02.2023

• The rule published in the extraordinary gazette notification No. 2316/32 of 26.01.2023 prepared under the provisions of Securities and Exchange Commission of Sri Lanka Act No. 19 of 2021