Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

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
Motor accidents cost the country Rs. 130 billion annually - police
-- [1 hour and 22 minutes ago]
Sri Lanka Health Minister's cannabis cultivation idea gains momentum
Japanese Embassy clarifies position on foreign judges in Sri Lanka
Japanese support of Rs. 32 million to uplift agriculture and fisheries industry in Sri Lanka
Special island wide police operation makes 2,879 arrests
Sri Lanka's Prime Minister Ranil Wickremesinghe celebrates 69th birthday today
Cost of Living Committee grants approval to increase milk powder prices
Sri Lankan President heads home after successful tour in Pakistan
Government Analyst to examine the Dambulla food processing factory after toxic fumes killed two workers
Lanka IOC raise fuel prices

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.