The Committee on Public Finance, chaired by Dr. Harsha De Silva, convened to address conflicting opinions surrounding the establishment of a duty-free shopping mall in Colombo’s port city.
The committee emphasized the need for urgent intervention from the Secretary of the Ministry of Investment Promotion to resolve the issue swiftly.
During the meeting held on March 12th, the committee delved into the contrasting viewpoints presented by the Attorney General and the Port City Economic Commission regarding the legal framework governing the proposed duty-free shopping mall.
Of particular concern was the divergence in opinions regarding the commission’s authority to establish such a facility.
Anoja Herath, Acting Secretary of the Ministry of Investment Promotion, disclosed that draft regulations pertaining to duty-free shopping malls had been forwarded to the cabinet for review and approval.
Dr. Harsha De Silva, in his capacity as committee chair, highlighted the Attorney General’s assertion that the commission lacks the jurisdiction to stipulate duty-free goods valued at up to $5,000.
However, complicating matters further, a letter from a private law firm representing the Port City Commission countered this stance, asserting the commission’s full legal authority to legislate on duty-free shopping malls and disputing the Attorney General’s opinion.
The committee expressed reservations regarding the method by which the Attorney General’s opinion was conveyed through a private law firm and raised concerns about the exercise of legislative powers without parliamentary approval.
Representatives from the Attorney General’s Department clarified that while the Port City Economic Commission possesses legislative powers, these are not without limitations.
During a thorough inquiry, the committee extensively scrutinized the operational procedures of the proposed duty-free mall, assessing its feasibility and potential ramifications.
As a result, it was emphasized that a comprehensive study is imperative to evaluate the prospective effects on local businesses and the taxation framework within Sri Lanka.
(newsfirst.lk)
