The Parliamentary Committee on Public Finance (COPF) has approved the Regulations Issued under the Imports and Exports (Control) Act, No. 1 of 1969, post consideration.
The COPF Committee took into consideration the Regulations issued under the Imports and Exports (Control) Act, No. 1 of 1969 (as amended) during a meeting of the Committee on Public Finance, chaired by MP Harsha de Silva, in Parliament yesterday (06 Jan).
Accordingly, Regulations issued under the Imports and Exports (Control) Act, No. 1 of 1969(as amended), were presented to the Committee seeking approval to enable tax exemptions, streamlined procedures, and the swift clearance and distribution of relief goods donated by foreign donors to those affected by Cyclone Ditwah, received in the name of the Disaster Management Center or any government institution.
The Committee questioned the Ministry of Finance on the non-establishment of the Disaster Management Fund, despite the existence of the necessary legal provisions and approvals.
The Committee also raised concerns regarding the delay in establishing the “Rebuilding Sri Lanka Fund” as a statutory fund, noting the potential issues that could arise if further delays persist.
Accordingly, the Committee urged officials of the Ministry of Finance to take proactive measures in this regard.
Following in-depth deliberations, the COPF Committee approved the Regulations issued under the Imports and Exports (Control) Act, No. 1 of 1969. (Newswire)