Since the procedures that should be followed in obtaining and managing foreign debts are covered by the Public Debt Management Act No. 33 of 2024, the Foreign Debt Act No. 29 of 1957 and all the amendments thereto should be cancelled. The policy agreement has been provided at the cabinet meeting held on 09-12-2024 for that purpose. The clearance of the Attorney General has been received for the Foreign Debt (Abolishment) Draft prepared by the draftsman.

Accordingly, the Cabinet of Ministers has approved the proposal presented by the President, in his capacity as the Minister of Finance, Planning, and Economic Development to publish the said draft in the Government Gazette and thereafter to present it to the Parliament for approval.

It was decided by the then Cabinet of Ministers at the cabinet meeting held on 02-09-2024 to liquidate the Co-operative Wholesale Corporation Act No. 47 of 1949 and to liquidate the said establishment.

However, there is a possibility to perform a decisive role for the Co-operative Wholesale Corporation in the implementation of government roles within the market operation with the objective of a continuous supply of quality goods and services to the public under a reasonable price through the promotion of market competitiveness in compliance with the “Rich country—beautiful life” policy framework.

Therefore, the Cabinet of Ministers has approved the proposal presented by the Minister of Trade, Commercial, Food Security, and Cooperative Development to abolish the previous cabinet decision in respect of the liquidation of the Cooperative Wholesale Corporation and recommence the business activities of the said corporation based on a feasible business plan.

The Cabinet of Ministers has approved the proposal presented by the President, to implement the National Anti-Corruption Action Plan 2025-2029 with the coordination of all the ministries, departments, all government institutes, and the relevant stakeholders.

The role of the Bribery and Corruption Investigation Commission has been expanded by the Anti Corruption Act No. 9 of 2023, from investigating and prosecuting offenses related to bribery and corruption to the implementation and regulation of anti-corruption policies to eliminate bribery and corruption.

Since the “Clean Sri Lanka” program of the government tries to uplift the moral development of the Sri Lankan Society,  the necessity of the preparation and implementation of a strong national anti-corruption policy in such away covering all the sectors.