Treasury beats drum on reforms

Treasury Secretary Dr. Harshana Suriyapperuma says over 20 new laws under review; several to be enacted this year. | SOE Act, insolvency law and anti-corruption measures nearing completion. | Eyes FTAs and credit rating improvement to access international capital and improve FDI.

- DEVAN DANIEL

MORE than 20 pieces of legislation are at various stages of review and are expected to be implemented within the year, Treasury Secretary Dr. Harshana Suriyapperuma said last week, outlining the reform agenda set out in the 2026 Budget.

With the Government earning acclaim for stabilising the economy and creating buffers that are now helping the country absorb Ditwah-related shocks, the focus on the reforms agenda is intensifying, particularly those related to critical, complex, and contentious big tickets such as State-owned enterprises (SOEs), energy, Customs, and the Inland Revenue Department, which feature significantly in the International Monetary Fund's (IMF) 2023 report 'Sri Lanka: Technical Assistance Report-Governance Diagnostic Assessment.'

Speaking at the Association of Professional Bankers' (APB) Annual Convention, Dr. Suriyapperuma responding to a question on reform timelines and complexity said the 2026 Budget sets out the roadmap.

"If we take a look at the 2026 Budget, that will show the policy reforms the Government has approved for implementation purposes. The direction is very clear in terms of repealing certain existing Acts and introducing new laws to facilitate businesses to do business better and to bring investments into the country," he said.

"The one unique advantage Sri Lanka enjoys over any other country is its geographic location, and the Government is focused on unlocking the maritime hub potential that has eluded this country for decades," Dr.

Suriyapperuma said.