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New legislation to support economic reforms
August 31, 2022
The government will revise and introduce new laws to stabilize the economy and facilitate its growth.
Among the new laws it plans to introduce are the Food Security bill, Public Asset Management bill, Economic Stabilisation bill, Offshore Economic Management bill, Public Service Employment bill, Public Finance Management bill, the Recovery of Possession of the Premises Given on Lease (Special Provisions) bill, Contributory National Pension Fund bill and the Agency for Overseas Sri Lankans bill.
Meanwhile, the following laws will be revised: amendments to Agrarian Development Act, amendments to Excise Ordinance, amendments to Finance Act, amendments to Foreign Exchange Act.
Together with stakeholders, the government will also introduce a more realistic mechanism to handle employees who lose their jobs due to the crisis. The Termination of Employment of Workman Act (TEWA) applies at present.
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