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
President to issue government's final stand on SAITM next week
-- [16 minutes ago]
Sri Lanka and U.S. governments launch $ 12 million 'YouLead!' youth employment program
-- [1 hour and 57 minutes ago]
Sri Lanka military offers another amnesty period for Army deserters
-- [2 hours ago]
Supreme Court indefinitely postpones decision on former chief Justice's petition on PC election act
Prime Minister criticizes media for publishing fabricated news
Northern protesters meet President for discussions on Tamil prisoners
Indonesian Naval Ship arrives at Sri Lanka port on a goodwill mission
Human Rights Watch makes submission concerning Sri Lanka's military occupation of schools to UN Committee on the Rights of the Child
Sri Lanka Multi-Day trawlers catch over 14,000 kg of tuna in deep sea fishing
Sri Lankan President calls on journalists to present truth

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.