Latest news with #Presidents'EntitlementsActNo.4
Hans India
10 hours ago
- Business
- Hans India
Sri Lanka to expand free trade agreements to boost exports, foreign exchange
The Sri Lankan government plans to sign more free trade agreements (FTAs) with foreign partners to diversify its export markets and boost foreign exchange earnings, media reports said on Sunday, citing a senior official. Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe said market diversification is critical to building a competitive and resilient export sector, Xinhua News Agency reported. He noted that expanding trade partnerships will not only help diversify products but also strengthen integration into global supply chains. The government is also focused on increasing value addition and building stronger brand recognition, he said. Abeysinghe highlighted that Sri Lanka's apparel exports generated more than $5 billion in 2024. The government aims to raise that figure to $8 billion by 2030. In July, the Sri Lankan government gazetted the Presidents' Entitlements (Repeal) Bill, aiming to abolish special privileges granted to former Presidents and their widows. The bill follows cabinet approval to amend the Presidents' Entitlements Act No. 4 of 1986. The proposed changes are designed to end longstanding benefits for former presidents and their widows. Sri Lanka currently provides a range of privileges for these groups. Earlier this year, a government minister disclosed that the state spent more than Rs 1.1 billion (about $3.7 million) in 2024 on benefits for former Presidents. The move to repeal these entitlements fulfils a key pledge of the current administration. On July 22, the Cabinet of Ministers approved the publication of a draft bill to repeal the Presidents' Entitlements Act, effectively revoking special privileges granted to former Presidents and their families. The move is in line with the government's policy declaration 'Pohosath Ratak – Lassana Jeewithayak', which pledges to reduce state expenditure and promote accountability.
News18
31-07-2025
- Politics
- News18
Sri Lanka moves to strip former presidents' privileges
Agency: PTI Last Updated: Colombo, Jul 31 (PTI) The Sri Lankan government on Thursday gazetted a new bill which seeks to withdraw all privileges accorded to former presidents and their widows since 1986. Once it is passed, it will force stopping granting of special benefits such as an official residence, monthly allowance, monthly secretarial allowance, official transport and other facilities. The current National People's Power (NPP) government of Anura Kumara Dissanayake in their election manifestos last year pledged to stop privileges to former presidents claiming it was a burden on the public. The country currently has five former living presidents plus a widow. Once the draft bill is placed on the parliamentary order paper, anyone interested could petition the Supreme Court challenging its constitutionality. Last month, the Cabinet granted approval to draft legislation aimed at repealing the Presidents' Entitlements Act No. 4 of 1986 and the Parliamentary Pensions Law No. 1 of 1977, effectively ending special privileges extended to former presidents, their widows and former MPs. PTI CORR GSP GSP view comments First Published: July 31, 2025, 20:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
