NPP to challenge Economic Transformation Bill in court

The National People’s Power (NPP) has decided to challenge the Economic Transformation Bill recently tabled in Parliament by the government, before the Supreme Court.

On May 22, the Economic Transformation Bill and the Public Financial Management Bill were presented to the Parliament for the first reading. The government says the two significant bills are aimed at bolstering the country’s economy.

The “Economic Transformation Bill” and the “Public Financial Management Bill,” are designed to enhance the management of public finances, thereby safeguarding against future economic downturns, the State Minister of Finance Shehan Semasinghe said recently.

However, the NPP points out that the government has presented a bill which has a crucial impact on the country’s economy in a very demeaning manner and has proposed to abolish the Board of Investment (BoI) through the relevant bill.

Furthermore, they demand the government for a clarification on its aim, when no request for such an act has been received from the National Chamber of Commerce, Industrialists’ associations or any other related parties in the private sector.