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Engage in business in Port City: President announces regulations

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President Ranil Wickremesinghe has announced regulations on registration, licensing, authorisation and other approvals of businesses who wishes to operate in the Colombo Port City.The President has issued these regulations as the Minister of Finance, Economic Stabilisation and National Policies.

A person who is desirous of doing business in the Colombo Port City must send in an application to the Colombo Port City economic Commission to obtain a licence to qualify as an authorised person permitted to engage in a business.

The Colombo Port City economic Commission evaluates the application and supporting documents and will issue a letter of approval in principle.If Commission is satisfied that an applicant has fulfilled all legal and regulatory requirements and has complied with and all the conditions set out in the letter of approval, it will issue a license to the

applicant permitting the applicant to engage in business at the Colombo Port City, subject to such terms and conditions as may be imposed by the Commission.The license is valid for a period of 12 months from the date of issue . However, the license will be canceled if the applicant does not commence a business within six months of the issue of the license.

License will also be canceled if the applicant is seemed insolvent or bankrupt by a court of competent jurisdiction; breach of the terms and conditions of the license issued by the Commission; furnishing false, misleading or inaccurate information or documents to the Commission in connection with its application for a license, registration, authorization or approval; or carrying on business in a manner likely in the opinion of the Commission to be detrimental to the interests of the area of authority of the Colombo Port City, the national interest and national economy.



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Cabinet approves establishment of Activity-Based Learning Centers at Regional Level for Commerce Education

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The importance of establishing learning centers at regional level has been identified in order to achieve multiple objectives, including the development of teachers, utilization as a hub for new technology and resource sharing, enhancement of vocational and higher education opportunities, efficient utilization of limited physical and human resources, integration of new technologies with subject-specific knowledge,
sharing of limited resources to ensure equitable access to education, and development of skills in line with regional potential, thereby contributing to the qualitative development of commerce education.

Accordingly, the project to establish 100 activity-based learning centers for the enhancement of commerce education has been included in the Public Investment Programme as a major investment project in general education, with an estimated total cost of Rs. 289 million, to be implemented during the period 2026–2028.

Having considered the proposal submitted by the Prime Minister, in her capacity as the Minister of Education, Higher Education and Vocational Education, Cabinet approval was granted to establish and operationalize 25 regional centres covering all 25 districts.

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M/s. Resources Development Consultants (Pvt) Ltd appointed to prepare Feasibility Study and detailed plans for the extension of the Kelani Valley Railway Line from Avissawella to Ratnapura

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Approval was granted at the Cabinet Meeting held on 21-10-2025 to carry out a feasibility study and prepare detailed plans for the extension of the Kelani Valley Railway Line from Avissawella to Ratnapura.

The calling of expressions for this purpose has been conducted under the national Competitive Procurement Procedure, and 8 bidders have submitted their Expression of Interest in that respect.

Following the evaluation of technical proposals submitted by the short-listed bidders, and financial proposals of the 4 eligible institutions have been opened. Subsequent to the evaluation of the aforementioned financial proposals, the Consultant Procurement Committee has recommended awarding
the consultancy for the feasibility study and preparation of detailed plans for the extension of the Kelani Valley Railway Line from Avissawella to Ratnapura to M/s. Resources Development Consultants (Pvt) Ltd at a total cost of Rs. 356.22 million (exclusive of taxes).

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Transport, Highways and Urban Development to award the said procurement in line with the above recommendation.

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Import and Export (Control) Regulations No. 01 of 2026, issued under the Imports and Exports (Control) Act, No. 1 of 1969, to be submitted for concurrence of the Parliament

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The Special Import Licence Regulations No. 01 of 2023, published in Extraordinary Gazette No. 2312/77 dated 01-01-2023, prohibit the importation of retreaded tires, including those used for aircraft.

However, the Ministry of Ports and Civil Aviation has made a request that an exemption be granted to permit the importation of retreaded aircraft tires classified under HS Code 4012.13 for Sri Lankan Airlines.

Taking into consideration essential operational and safety requirements, it has been decided to permit the importation of retreaded aircraft tires classified under HS Code 4012.13, subject to the recommendation of the Ministry of Ports and Civil Aviation, provided that such tires comply with the requirements specified by internationally recognized aviation authorities and are imported by Sri Lankan airline operators engaged in international air services under a duly executed supply agreement between the airline and a certified international supplier.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the President, in his capacity as the Minister of Finance, Planning and Economic Development, to submit the Import and Export (Control) Regulations No. 01 of 2026, published in Extraordinary Gazette No. 2481/02 dated 23-03-2026 under the provisions of the Imports and Exports (Control) Act, No. 1 of 1969, for the concurrence of the Parliament.

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