Port City Economic Commission Bill sails through parliament

By Saman Indrajith

Colombo Port City Economic Commission Bill was passed in parliament yesterday with a majority of 91 votes. The bill received 149 votes in favour and 58 voted against.

The SJB, the JVP and the TNA voted against the bill.

A vote was taken at the end of the second reading stage of the bill. There were 148 votes for the bill and 59 against. Accordingly, the second reading of the bill was passed by a majority of 89 votes. Thereafter, the government introduced amendments to the bill during the committee stage known as the third and final reading of the bill.

The Colombo Port City Economic Commission Bill was presented to Parliament on April 8 by Leader of the House Dinesh Gunawardena. The bill provides for the establishment of a commission empowered to grant registrations, licences, authorisations, and other approvals to carry on businesses and other activities in the Special Economic Zone (SEZ) to be established within the Colombo Port City.

The Supreme Court on April 23 concluded the consideration of petitions filed challenging the bill and announced that the determination would be directed to the Speaker.

Speaker Mahinda Yapa Abeywardena announced the Supreme Court determination in the House on May 18.

A two-day debate on the bill commenced on Tuesday. Opening the two-day debate on the bill, Prime Minister Mahinda Rajapaksa said the Port City project was expected to attract over $ 15 billion worth of investments in the next five years and that it was essential to bring in a legal framework to help achieve that goal.

“Today, there is much competition among countries to attract investors and to make our country attractive we have to offer incentives, facilities, and services. We should also have a single window investment facilitation process to attract foreign investment,” the PM said.