President-appointed body to govern Colombo Port City

Minister Udaya Gammakpila says that infrastructure for Sri Lanka’s progress is expected from the Colombo Port City project.

He was responding to questions raised by journalists at a Cabinet media briefing this morning (30).

He said that tax concessions have been granted to further attract this huge project and that there is a legal right to grant these special tax concessions under the Strategic Business Development Act of 2008.

Minister Gammanpila also said he believes Sri Lanka can be transformed into the business center of Asia through the port city owing to the geographical positioning of the country.

He added that the government hopes to develop the infrastructure facilities that will allow international banks and communication companies to designate Sri Lanka their headquarters.

No plans for a casino hub

When asked whether the Colombo Port City would become a casino hub like Macau or Hong Kong, the minister further said that unlike the previous government, the present government has no such intention.

We have no intention of earning profits by destroying Sri Lanka’s culture and heritage, he added.

Governing body appointed by President

Responding to another question whether it could pose a possible threat towards the sovereignty of the country, and whether the Port City would be under a separate governing body, the minister said that the power to appoint the said body will be vested with the President.

According to the Port Colombo Port City Economic Commission Bill, a President-appointed-Commission named the Colombo Port City Economic Commission will be established for the administration, regulation, and control of, all matters connected with businesses and other operations of the Colombo Port City.

According to the bill recently produced to Parliament, the Colombo Port City Economic Commission is entrusted with the administrative duties of this Special Economic Zone.