Colombo (LNW): Orders under the Colombo Port City Economic Commission Act No. 11 of 2021, as detailed in the Gazette Notice 2339/31, have been greenlit by the Parliamentary Committee on Public Finance (CoPF).
A statement from Parliament noted that an extended discussion took place concerning the 10 business firms operating in the Colombo Port City. Focus was placed on the complexities surrounding these companies’ contract signings.
It was revealed that these businesses engaged in contracts via three approaches: prior to the port city’s preparation, during its preparation, and after its completion.
The CoPF Committee highlighted that these agreements weren’t based on a single consistent legal system. Consequently, they advised consulting the Attorney General within a four-week timeframe and then informing the Committee.
The Committee’s Chair, MP Harsha de Silva, stressed the necessity to inspect the constructions executed by these firms in this area.
After a comprehensive debate on the matter, consent was secured during the Committee on Public Finance’s meeting in Parliament on Tuesday (24), presided over by MP Silva.
Furthermore, the Committee was briefed that the Port City Commission had authorised the operation of two cryptocurrency exchanges. In response, the Committee suggested seeking feedback on the matter from the Central Bank.
