November 25, Colombo (LNW): The Government has given the green light to publish a revised draft of the Colombo Port City Economic Commission Act in the official gazette, paving the way for its tabling in Parliament in the coming weeks.
According to Cabinet officials, the decision marks the culmination of a series of approvals granted earlier on 7 July and 13 October 2025, aimed at overhauling key sections of the original 2021 legislation.
The proposed amendments are designed to create a more competitive tax environment within the Port City zone, while also reinforcing regulatory oversight and streamlining institutional structures linked to the project.
Legal experts from the Attorney General’s Department have now endorsed the updated draft, which was prepared by the Legal Draftsman’s Office. Their clearance effectively removes the final procedural barrier to gazetting.
With these steps completed, the Cabinet has endorsed a proposal submitted by the President in his capacity as Finance Minister, authorising the publication of the bill and its subsequent submission to Parliament.
Government sources indicated that once tabled, the revised legislation is expected to undergo detailed committee scrutiny, with the administration confident that the changes will accelerate investment and improve governance standards within the Port City development.
