SJB files petition against Economic Transformation Bill
For Sri Lankan's Overseas

SJB files petition against Economic Transformation Bill

SJB files petition against Economic Transformation Bill

Samagi Jana Balawegaya (SJB) General Secretary Ranjith Madduma Bandara today filed a Special Determination petition before the Supreme Court challenging the constitutionality of the Economic Transformation Bill, which was tabled recently in Parliament.


Madduma Bandara filed this petition seeking a declaration that the Bill requires the approval by the people at a Referendum in addition to the 2/3 approval of Parliament.

The petitioner states that several Clauses of the Bill have been included so as to codify into domestic legislation the conditions contained in the present IMF-EFF arrangement and other representations made to the International Monetary Fund by representatives of the Government of Sri Lanka. 


The petitioner stated that Clause 48 of the Bill seeks to establish an entity known as “Invest Sri Lanka”, of which the board of directors, chairperson, and Chief Executive Officer shall be appointed by the Economic Commission. The petitioner, the said Clause does not provide for who shall own the shares issued by “Invest Sri Lanka” and otherwise provide who the members thereof shall be.


The petitioner further stated that there is no specific provision in the Bill with regard to the transfer of shares otherwise alteration of the members of “Invest Sri Lanka” and the Bill does not contain any disqualifications with regard to the persons who will form the board of directors of “Invest Sri Lanka”. 


This petition was filed through Attorney-at-law Sithara Sampath Wijewardena.