SJB MP Harshana Rajakaruna to come up with some disclosures

The Bill will have the power to administer the zone under section 3(1) of the legislation

Samagi Jana Balawegaya (SJB) MP Harshana Rajakaruna who is one of the petitioners who had filed legal action against the proposed Colombo Port City Economic Commission Bill will come up with some disclosures on the Commission today.

Meanwhile one of the lawyers who has been retained by SJB Visath Wijegunawardene told a media briefing held at the Opposition Leader’s office today that the proposed Commission under the Port City Commission Bill will have the power to administer the zone under section 3(1) of the legislation, while certain laws including the Inland Revenue Act 24 of 2017, Value Added Tax Act No 14 of 2002, Finance Act No 11 of 2002, Excise Special Provisions Act 13 of 1989, Customs Ordinance, Betting and Gaming Levy Act, Entertainment Tax Ordinance and Foreign Exchange Act No 12 of 2017, will not be applicable within the zone. In addition enactments which have no application in the Colombo Port City include the Urban Development Authority Act 14 of 1978, Municipal Council Ordinance, Town and Country Planning Ordinance, Board of Investment of Sri Lanka, Sri Lanka Law and Public Contracts Act, will also not be applicable under section 7(1) of the Bill. In addition he said no one can transact in Sri Lankan rupees within the zone under section 27(3) of the legislation which is an obstacle for the Sri Lankan businesses to invest in any entity in the economic zone.