COPF says NO! BOI slammed for lack of analysis

COLOMBO (News 1st) - Sri Lanka's Parliamentary Committee on Public on Finance has refused to allow to go ahead with the Order under the Strategic Development Project Act No. 14 of 2008 which was scheduled to be debated in Parliament on Tuesday (4).

COPF Chairman & SJB Parliamentarian Dr. Harsha De Silva slammed the Board of Investment for failing to provide sufficient information on the decision taken to award 12 years of tax concessions to any company investing in Sri Lanka.  

The Committee on Public Finance refused to approve the Order under the Strategic Development Project Act No. 14 of 2008 as the Board of Investments failed to provide a proper analysis on the matter. 

The order in question under the Strategic Development Project Act No. 14 of 2008 was mentioned in Gazette No. 2291/25 dated 3 August 2022 enacted by the President as the Minister of Finance, Economic Stabilisation and National Policy was presented to Parliament on 20 September. 

He instructed the BOI to present all data and analysis relating to the order to the Committee on Tuesday (4) failing which, the Committee will be forced to refuse to grant its approval to the Gazette.