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COPF gives conditional approval for suspending Parate Law

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The Committee on Public Finance (CoPF) has given conditional approval for the amended Recovery of Loans by Banks (Special Provisions) (Amendment) Bill to facilitate legal provisions for the suspension of Parate Law until 15 December.

Thus a banks’ practice of acquiring properties of whose loans are yet to be paid off will be suspended until 15 December 15 and the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990 will be amended to facilitate the necessary legal provisions.The approval was given when the Committee on Public Finance met in Parliament recently under the chairmanship of MP Harsha De Silva.



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Draft of the Appropriation Bill for the Financial Year 2027  su mitted to the Parliament

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Approval of the Cabinet of Ministers was granted to the preparation of the Appropriation Bill for the financial year of 2027 at their meeting held on 30.06.2026.

Accordingly, clearance of the Attorney General has been given to the Appropriation Bill prepared by the Legal Draftsman.

Therefore, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and thereby submit the same to the Parliament for its concurrence.

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Cabinet approves aditional Rs. 2,500 million to the Paddy Marketing Board to purchase 2026 Yala harvest

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The Cabinet of Ministers has approved the resolution furnished by the Minister of Agriculture, Livestock, Land and Irrigation to provide an additional Rs. 2,500 million to the Paddy Marketing Board on a reimbursable basis from the Rs. 7,500 million additional allocations granted to the Ministry to implement
the expedited paddy purchasing program for the 2026 Yala harvest.

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Cabinet nod to host the 8th Asian Regional Conference of the Commonwealth Parliamentary Association and the 3rd Joint Asian and South-East Asian Regional Conference of the Commonwealth Parliamentary Association

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The 8th Asian Regional Conference of the Commonwealth Parliamentary Association (CPA) and the 3rd Joint Asian and South-East Asian Regional Conference of the CPA are planned to be held over three days in Colombo during April/May 2027.

Approximately 90 delegates including speakers, Deputy Speakers, Member of Parliamentarians, and Parliamentary officers representing member countries of the Commonwealth Parliamentary Association, in the Asian and South-East Asian regions, are expected to participate in these conferences.

The Cabinet of Ministers has approved the resolution furnished by the Prime Minister of the Parliament of Sri Lanka to host the said conferences considering the opportunities to strengthen parliamentary diplomacy and regional cooperation, as well as to enhance international recognition of the Parliament of Sri Lanka within the Commonwealth Parliamentary Association.

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