News
Procurement of Petroleum and Petroleum Related Products, Liquid Petroleum (LP Gas) Gas and Coal.
The global energy market is confronted with extreme instability now due to the prevailing geo –political unrest developing in the middle – east region.
Since Sri Lanka depends on imported petroleum and petroleum related products, liquid petroleum (LP Gas) gas and coal, this situation has caused direct and immediate impact on the energy supply and security of the country.
Accordingly, it has been essential to follow a temporary and flexible procurement framework for ensuring uninterrupted energy supply due to cancellation of shipments as a direct result of existing clashes, insurance service providers refrain to supply insurance coverage, reluctance of suppliers to enter into long term agreements, etc.
Therefore, the Cabinet of Ministers approved the resolution
furnished by the Minister of Power and Energy to take required measures to procure necessary petroleum and petroleum related products, liquid petroleum (LP Gas) gas and coal out of the standard procurement guidelines for three (03) months, inquiring the National Procurement
commission.
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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