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.

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.

An Officials’ Committee appointed under the chairmanship of the Secretary to the Prime Minister to review non-commercial state-owned institutions has recommended the consolidation of the Industrial Development Board, the National Enterprise Development Authority, and the Small Enterprise Development Division into a single entity.

Based on the aforementioned recommendations, policy approval was granted at the Cabinet Meeting held on 29-12-2025 to establish the Sri Lanka Industrial Transformation and Innovation Authority.

Accordingly, the Ministry of Industry and Entrepreneurship Development, in consultation with all relevant stakeholders and with technical assistance from the Asian Development Bank, has prepared a draft legal framework for this purpose.

The Cabinet of Ministers has approved the resolution furnished by the Minister of Industry and Entrepreneurship Development to instruct the Legal Draftsman to draft a Bill to establish the “Sri Lanka Industrial Transformation and Innovation Authority”  based on the said draft framework.