Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka cabinet approves proposed bill banning land transfer to foreigners
Fri, Aug 15, 2014, 12:30 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 14, Colombo: Sri Lanka's cabinet of Ministers Thursday approved a bill restricting the transfer of island's land to foreign citizens.

The Land (Restrictions on Alienation) Bill proposed by the President Mahinda Rajapaksa, in his capacity as the Minister of Finance and planning, prohibits selling the land both private and public to non-citizens of the country.

The proposed bill has been prepared by the Legal Draftsman and cleared by the Attorney General, for the implementation of the budget proposal for last year (2013).

The decision to prohibit selling the country's land to foreigners has been taken due to the increasing demand for foreign investments, with the expansion of government's development activities. However, the ban will not be applied to foreign diplomatic missions.

President Rajapaksa announced the Government's decision to ban the sale of land when he presented the 2013 Budget to Parliament in November last year.

The bill will be debated next in parliament for approval.

ColomboPage - Recent 10 Stories
Former Minister T.B. Ekanayake at FCID for questioning
-- [3 hours ago]
Weather destroyed Estate houses will be reconstructed promptly - Deputy Minister Range Bandara
-- [3 hours ago]
Two Indian nationals smuggling gold worth Rs. 4 million arrested at Sri Lanka's Colombo airport
-- [4 hours ago]
PM tours North today to review progress of development projects
-- [4 hours ago]
All schools closed today in Gampaha Education Zone due to flooding, will reopen Wednesday
-- [5 hours ago]
Ceylinco Insurance announces 'record' 315 percent dividend
-- [6 hours ago]
Leader of the Mahason Balakaya attackd in prison
-- [6 hours ago]
Firaz Makar to head STAX digital practice
-- [7 hours ago]
Relief continues for over 38,000 people displaced by adverse weather in Puttalam District
SriLankan plane carrying 228 passengers hits runway light at Cochin airport during rain

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.