News
AG led Lankan team holds talks with lawyers, insurers of owners of ‘MV X-Press Pearl’ in S’pore
A nine-member Sri Lankan delegation led by Attorney General Sanjay Rajaratnam held fruitful talks with lawyers and insurers for the owners of the freight ship ‘MV X-Press Pearl’, which was destroyed in a fire in Sri Lanka’s territorial waters, the President’s Media Division (PMD) said issuing a press statement.
The discussions were held on 18 and 19 July 2023 in Singapore, the PMD said.The meeting was convened in response to a request made by the lawyers representing the ship-owner interests after the Government of Sri Lanka filed a case in Singapore in April, the PMD said.
During these discussions, both parties addressed several critical aspects related to the incident and its aftermath, the PMD said.A key focus of the talks was to assess the outstanding interim claims put forth by the Marine Environment Authority and the Ministry of Fisheries from the Government of Sri Lanka, the PMD said.
The insurers for the ship-owner assured Sri Lanka that the assessment of these claims would be conducted promptly and efficiently, the PMD said.
Sri Lanka’s Attorney General told lawyers and insurers of the ship-owner that the ongoing wreck decommissioning and debris recovery activities within Sri Lankan waters must end quickly, the PMD said.
Those representing the ship-owner’s interests said they are also willing to consider the claims made by the Sri Lankan government concerning the damage caused to the marine environment during further discussions, the statement said.
The PMD said that these discussions will have no bearing on the ongoing legal proceedings initiated by the Government of Sri Lanka in Singapore.
However, the PMD added that the talks mark a significant step in resolving the aftermath of the X-Press Pearl Incident and indicate a cooperative approach by all parties involved.
“As the assessment of outstanding claims and environmental damage claims progresses, both the Sri Lankan government and the ship-owner interests hope to reach a fair resolution that takes into account the environmental impact and the interests of all stakeholders,” the PMD said.
Singapore-flagged X-Press Pearl was destroyed in a fire, 16 kilometers off the coast of Colombo, on 20 May 2021.
The fire was caused by chemicals that were transported on the ship.
This is known as Sri Lanka’s worst maritime disaster to date.
The Originating Claim of the Claims Action on the X-Press Pearl Incident was filed in the General Division of the High Court of Singapore, as the Attorney General of Sri Lanka as the Claimant, on 25 April.
News
Amendment of the Inland Revenue Act No. 24 of 2017
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
News
Cabinet nod for “National Mineral Policy” – 2026
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
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