Supreme Court decision regarding draft bill on new foreign exchange presented to the parliament soon

Monday, 24 April 2017 - 15:54


The Supreme Court announced today that the decision regarding the compliance of draft bill on new foreign exchange with the Constitution would be informed to the Speaker of the House soon.

Currently, the draft bill has been submitted to the parliament in lieu of the prevalent foreign exchange control act.

The government states that the novel draft bill has been prepared in line with the latest regulations functioned in most of the foreign countries.

Moreover, through this, the Sri Lankans abroad are encouraged more to send money to the motherland.

However, Opposition complains that via this action, the powers vested on the parliament to control public finance would be abolished.

Accordingly, the government has requested for the opinion of the Supreme Court.

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