Tuesday, April 16, 2024
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Landmark Victory: Sri Lanka Parliament Passes Central Bank Bill with Overwhelming Majority

In a momentous decision, the Central Bank of Sri Lanka Bill was successfully passed with crucial amendments during a parliamentary session yesterday (20). The Bill secured an impressive majority, with 66 votes in favor and only 24 votes against it. Notably, a significant number of Sri Lanka Podujana Peramuna MPs voted in favor of the Bill, solidifying their support.

During the lively debate on the Bill, members from various political parties, including Samagi Jana Balawegaya, National Jana Balawegaya, and Sukanda Janata Sabha, stood firm in their opposition to the proposed changes, making their voices heard.

The Bill’s significance lies in its provisions to grant the Central Bank of Sri Lanka greater independence, aiming to elevate the institution’s autonomy and effectiveness in managing the country’s monetary policies. Over twenty Members of Parliament, both from the ruling party and the Opposition, passionately spoke during the debate, reflecting the bill’s crucial role in shaping the nation’s financial landscape.

This pivotal decision marks a turning point in Sri Lanka’s financial governance, as the Central Bank moves towards becoming a more robust and autonomous institution, empowered to drive the country’s economic growth and stability.

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