May 3rd 2021, Colombo, Sri Lanka: Sri Lanka is presently debating the legal framework for the Colombo Port City Special Economic Zone (hereinafter sometimes the Colombo Port City). At the outset it must be noted that the Colombo Port City has the potential for the promotion and advancement of the Sri Lankan economy. However, the process of enacting laws and their substantive contents must be closely scrutinized and debated.
In this brief commentary CPA raises the potential implications of the CPCEC Bill, and highlights some key concerns relating to the Bill, as was Gazetted on the 24th of March 2021.
The areas of concern flagged by CPA include the powers and composition of the Colombo Port City Economic Commission, the Commission’s compliance with existing regulatory authorities, the powers of the President under the Bill, accountability and transparency, the undermining of Parliamentary powers including law making and control over finance, as well as its impact on the judicial proceedings.
See more on the petition filed by CPA.
Images capturing key points (based on the Bill Gazetted on 24th March 2021):