The National People’s Power (NPP) has announced its decision to contest the Economic Transformation Bill, recently introduced in Parliament by the government, before the Supreme Court.
Presented to Parliament for its first reading on May 22, the Economic Transformation Bill, along with the Public Financial Management Bill, is touted by the government as pivotal measures aimed at fortifying the nation’s economy.
State Minister of Finance Shehan Semasinghe asserted that these bills, namely the "Economic Transformation Bill" and the "Public Financial Management Bill," are crafted to enhance the administration of public finances, thereby fortifying the nation against potential economic downturns.
In contrast, the NPP has criticized the government's approach, citing concerns over the presentation of a bill with significant ramifications for the economy in what they deem a belittling manner. They specifically raise objections to the proposal to abolish the Board of Investment (BoI) through the bill.
Moreover, the NPP demands clarity from the government regarding the intent behind the bill, particularly noting the absence of requests for such action from key stakeholders such as the National Chamber of Commerce, Industrialists’ associations, or other pertinent entities within the private sector.
