PM: MARKET ECONOMY TO BE MODERNISED

The country’s market economy would soon be modernised, along with introduction of a series of new laws, including a Counter Terrorism Act, as a part of the Government’s plan to modernise country’s legal system, Prime Minister Ranil Wickremesinghe said on Saturday.

He came up with this remark at the induction of U. R. De Silva as the President of Bar Association of Sri Lanka (BASL) on Saturday.

“The intention of the Government is to modernise the market economy and with that it will become necessary to modernise the country’s legal system,” he said.

“We will be bringing in the new inland revenue law in May or in June, this year as we have discussed it with the relevant parties. We will also bring in the Counter Terrorism Act, Anti Dumping Laws, a new Land Law which will provide provisions to set up a land bank and laws on ownership of flats.

“There will be an off shore financial centre, which will require a new set of laws to govern it. With all these new laws, legal professionals can expand into new markets,” the Prime Minister added.

We will be bringing in the new inland revenue law in May or in June, this year as we have discussed it with the relevant parties. We will also bring in the Counter Terrorism Act, Anti Dumping Laws, a new Land Law which will provide provisions to set up a land bank and laws on ownership of flats...

He said that Sri Lanka’s legal system should become one of the most modern legal systems in Asia in addition to being one of oldest in Asia.

Also he stressed that the three branches of the Government had to move on smoothly. However he said the legislature and the executive would have to make quick decisions in an emergency situation.

Minister of Justice Wijeyadasa Rajapakshe stressed the need for the legal professionals to be independent and to see that justice was done to people.

“It was during my tenure that the country went through a traumatic period .The legal professionals stood for the rights of the people and even boycotted the courts at that time,” he said referring to the period during which former Chief Justice Shirani Bandaranayke was impeached.

The incoming BASL President U. R. L. De Silva also stressed the need for modernising the legal system.

“Sri Lanka’s legal system was based on the British system but the British system has been modernised while the system here is stagnant,” he said.

He also said the gender or the sexual orientation should not be a barrier for anyone to enter into the legal profession.