Sri Lanka Shelves 2024 Public Enterprise Management Bill for Fresh Draft 📈

• Overview: The Cabinet has decided to halt progress on the Public Enterprise Management Bill published in August 2024 and direct the Legal Draftsman to prepare a fresh draft. • Key Details: • Proposal presented by the President and approved at Monday's (12) Cabinet meeting. • The initial Bill was approved on 22 July 2024 and gazetted on 2 August 2024, but lapsed following the dissolution of Parliament later that year. • A committee of officials and subject experts reviewed the 2024 legislation to identify essential amendments. • The new Bill will be formulated based on the committee's preliminary recommendations to strengthen public enterprise governance and oversight.