News
Lanka anti-monopoly provisions scattered among 37-laws: Japan study
ECONOMYNEXT – Sri Lanka does not have a comprehensive regime to stop ant-competitive behaviour but there are provisions to promote competition scattered among 37 pieces of legislation, according to an assessment by the Japan International Cooperation Agency.
Harsha Fernando, President’s Counsel, had presented some of the findings at a recent forum had said Sri Lanka does not have a comprehensive competition law regime.
There were both legal and regulatory provisions for promotion of competition and prevention of anti-competitive practices in as many as 37 enactments, with the purview and enforcement responsibilities distributed among both regulatory agencies as well as service providers.
A high level delegation from the Japan Fair Trade Commission (JFTC) joined the seminar to share their insight on the background and key aspects of the competition laws the agency’s role in securing a transparent and competitive business climate in Japan.
Deputy Secretary General Tanaka Kumiko, Deputy Director Sakuma Yukiko and Chief Investigator Matsuo Akiko, explained the practices from Japan.
Japan had broken up the ‘zaibatsu’, giant corporate groups, after World War II, and opened opportunities for new entrants to the market and promoted competition.
The Anti-Monopoly Act of Japan introduced a comprehensive legal framework to prevent anti-competitive actions and promote competition.
The JFTC is the law enforcement authority on the provisions of the Anti-Monopoly Act, and also conducts advocacy activities to enhance public awareness and support towards measures fostering competition.
JICA said in expects that the findings of the assessment, coupled with the lessons from Japan would provide a strong foundation for the Sri Lankan stakeholders in determining the policy direction for Sri Lanka.
Meanwhile critics have said in Sri Lanka government itself has imposed high import duties, feeding corporate greed and monopolies of ‘domestic producers’ allowing them to exploit poor consumers with higher than world prices.
Due to high import duties and so-called para-tariffs Sri Lanka is no longer an ‘open economy’ it once was economists are now saying.
Latest News
New Court of Appeal Judge Sajeewani Dilka Lakmali Sworn In
Ms Sajeewani Dilka Lakmali Karunannayake was sworn in as a Judge of the Court of Appeal before President Anura Kumara Dissanayake at the Presidential Secretariat this afternoon (03).
She previously served as an Additional Solicitor General at the Attorney General’s Department.
The appointment has been made to fill a vacancy on the Court of Appeal.
Secretary to the President Dr Nandika Sanath Kumanayake was also present on the occasion.
(President’s Media Division)
Latest News
Sun directly overhead Madampe, Thorayaya, Thotagamuwa, Rattota and Kalavanchikudy about 12.09 noon today (03)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is overhead today (03) are Madampe, Thorayaya, Thotagamuwa, Rattota and
Kalavanchikudy about 12.09 noon.
News
22A: SC urged to suspend hearing, appoint full bench
Attorney-at-Law Sugandhika Fernando, on behalf of the Vinivida Foundation, petitioned the Supreme Court yesterday (02), seeking a full bench, excluding Chief Justice Preethi Padman Surasena, to hear the petitions challenging the 22nd Amendment Bill. She also requested that the hearing be suspended immediately until the matter was fully heard and determined.
Among the respondents are Chief Justice Surasena, the first respondent, and Attorney General Parinda Ranasinghe. Justices Yasantha Kodagoda, Shiran Gooneratne, Achala Wengappuli and Priyantha Fernando have also been named as respondents.
The petitioner has sought to have quashed the decision of the first respondent to appoint a five-member bench, which she alleged was made in violation of the norms of public law. She also sought a bench comprising all Supreme Court judges, excluding those cited as respondents, to hear the special determination applications on the 22nd Amendment.
The petitioner further contended that Chief Justice Surasena, who is due to retire on December 1, 2026, would be the main beneficiary of the 22nd Amendment.
The hearing of the petitions continued for a second day yesterday (02) before a five-member Supreme Court bench comprising Chief Justice Preethi Padman Surasena and Justices Achala Wengappuli, Arjuna Obeyesekere, Sampath Abeykoon and Gihan Kulatunga.
The hearing, which commenced on Tuesday morning, continued for nearly 12 hours, until 10:30 p.m.
Solicitor General Viraj Dayaratne, appearing for the Attorney General, submitted yesterday that the Government had presented the 22nd Amendment Bill to the Constitution and the Judicature (Amendment) Bill with the objective of expanding and streamlining the country’s judicial system.
After the Solicitor General’s submissions concluded, counsel representing the petitioners requested an opportunity to respond to the Solicitor General and the intervening petitioners. However, the Chief Justice declined to allow the petitioners’ counsel to make further oral submissions, concluded the determination hearing and directed them to file written submissions instead.
-
News7 days agoEight politicians in drug kingpin probe
-
Features5 days ago“Wrap Me Up in My Blazer”— A Gentlemanly Bradby Reminiscence
-
Business7 days agoSri Lanka opens up: A new season of direct connectivity
-
Features4 days agoWhen Sri Lankan stories find their own voice
-
Features7 days agoRedefining ageing in Sri Lanka
-
Editorial7 days agoThe toxic legacy of two lakes
-
Business7 days agoJaffna Teaching Hospital secures lifeline water supply via ADB-funded Thalaiyadi sea water desalination plant
-
Features5 days agoJVP/NPP government as seen from outside by Lionel Bopage now domiciled in Australia
