News
Business World International Awards ceremony
The Business World International Awards ceremony, organized by the Business World International Organization INC – USA, an event which is recognized as one of the most prestigious Business award festivals in the Asian Pacific region was held in grandeur, at Taj Samudra, Colombo. BWIO is an USA based organization, driven with the objective of recognizing the accomplishments and expertise of the global business spectrum. The BWIO Awards recognized and celebrate Excellence in Business, and inspires entrepreneurs to accomplish greater challenges and benchmark their best practices. It concentrates on every category from startups to business giants, social change agents, sustainable development advocates and exceptional professionals in their respective fields of expertise, varying in 30 categories.
The event attracted business owners, high level entrepreneurs, enterprises from the private, government sectors and small and medium enterprises and other VIPs throughout the country. The joint chief guests were former president Mithreepala Sirisena, and Dr. G. D. Singh (Founder / Chairman – Asia African Chamber of Commerce & Industry) and guests of honour were Minister Chamal Rajapaka and Senthil Thondaman. Among the other special guests were Senior DIG Ajith Rohana and Arjuna Ranatunga. The distinguished invitees were delightfully welcomed by Dr. Dexter Fernando (Chairman – International Chapter), Dr. Tharindu Wijenayake (Vice Chairman – BWIO – USA – International Chapter) and Dr. M. A. A. Jabbar (Vice Chairman – Sri Lankan Chapter). Prof. Dr. Dietmar Doering (Founder and CEO – Asia German Sports Exchange, Advisory Board Member – BWIO – USA) was a special guest and the key note speaker of the function.
Approval has been granted at the Cabinet meeting held on 22.07.2024 to publish the draft bill of State Assets Management Act in the government gazette notification and thereby present it to the Parliament for its concurrence.
However, the draft bill couldn’t be passed in Parliament as a result of the Parliament being dissolved in the month of October 2024.
Thereafter, the draft bill was subject to further inspection by a
committee appointed which comprised of officials and authorities on the subject.
The said Committee has recognized the amendments to be made and a fundamental draft has been prepared including the proposed amendments.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to suspend further activities regarding the draft bill of State Assets Management Act published in the extraordinary gazette of 02.08.2024, and to direct the Legal Draftsman to prepare a draft bill based on the fundamental draft prepared by the subject specialists’ committee.
Considering the compliance of the Cooperative Societies’ operations with the concurrent socio – economic circumstances as well as the changes in the common law, the requirement of amending the Cooperative Employees Commission Act No. 12 of 1972 has been recognized.
A fundamental draft including proposed amendments based on the experience gained by that Commission as well as the opinions and proposals of Cooperative societies, their director board members, cooperative employees and other interested parties has been prepared.
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Trade, Commerce, Food Security and Cooperative development to provide instructions to the Legal draftsman to prepare a draft bill to amend the Cooperative Employees Commission Act No. 12 0f 1972, based on the said fundamental draft.
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