1. Annual General Meeting of the Asian Development Bank

The Cabinet of Ministers took into consideration the main point emphasized in the speech delivered
as the chair at the business session of the summit as the representative to Sri Lanka in the governing
board of the Asian Development Bank when the Hon. President participated in the 55 th annual
general meeting of the Asian Development Bank held in Manila, Philippines on 29.09.2022 as the
Minister of Finance, Economic Stabilization and National Policies as well as the bi – lateral
discussions took place with the Chairman of the Asian Development Bank, the Finance Minister of
Japan and the president of the Republic of Philippines.

2. Restructuring of Sri Lankan Airlines Company Limited and its subsidiary companies

It has been recognized that Sri Lankan Airlines Company Limited as well as its subsidiary
companies are needed to be restructured by handing over a considerable amount of shares and the
management of the entity of Sri Lankan Airlines Company Limited to investors selected through a
transparent procurement process. Accordingly, considering the resolutions furnished by the Minister
of Ports, Shipping and Aviation, the Cabinet of Ministers took the decision to hand over the
responsibility of studying the methodology of restructuring Sri Lankan Airlines Company Limited
and making recommendations to the Cabinet of Ministers to State – owned Enterprises Restructuring
Unit established under the Ministry of Finance, Economic Stabilization and National Policies

3. Draft bill of Rathanathissa Saama Padanama (Rathanathissa Peace Foundation)
(Incorporated)

The draft bill of Rathanathissa Saama Padanama (Rathanathissa Peace Foundation) (Incorporated) in
which Rev. Eriyawe Rathanathissa Thero, Chief Incumbant of Sri Waapikarama, Paalukadawala,
Galgamuwa holds the post of Executive Director, has been submitted to the Parliament as a private
proposal of a member of Parliament by Hon U. K. Sumith Udukumbura, Parliamentarian of
Kurunegala district. In terms of the provisions of the standing order 52 (06) of the Parliament, the
said draft bill has been referred to the Minister of Education by the subject Minister for obtaining a
report on that. Concurrence of the Attorney General has been granted to the bill drafted by the Legal
Draftsman. Accordingly, the approval of the Cabinet of Ministers was granted to for the proposal
furnished by the Minister of Education to submit a report to the Parliament recommending the said
draft bill.

4. Recommendations submitted to the Hon. President by the Finance Commission in relation to
the year 2023.

The recommendations for the financial year 2023 have been submitted to the Hon. President by the
Finance Commission in terms of the provisions of the Constitution of Sri Lanka. Accordingly,
considering the proposals furnished by the Hon. President, the Cabinet of Ministers granted approval
to take appropriate measures to implement the prescribed recommendations forwarded by the
Finance Commission and to submit the said recommendations to the Parliament in terms of Article
154 R (7) of the Constitution.

5. Bill for the Revision of Approved Borrowing Limit for the year 2022

On 17.10.2022, the Cabinet has approved the preparation of a bill to revise the approved borrowing
limit for the year 2022 . Attorney General’s clearance has been received for the bill prepared
accordingly by the Legal Draftsman. As such, the proposal presented by the President hi his
capacity as the Minister of Finance , Economic Stability and National policies to publish the said
Bill in the Government Gazette and thereafter present the same in Parliament, for approval, was
approved by the Cabinet.

6. Submission of the Regulations published in the gazette to Parliament for Approval

The proposal presented by the Hone. President hi his capacity as the Minister of Finance ,
Economic Stability and National policies to present the following regulations published in the
Govt .Gazette in Parliament, for approval, was approved by the Cabinet.
I. 5 Gazette Notifications containing Regulations issued under Sections 2 and 5 of the Special
Commodity Levy Act, No. 48 of 2007.
II. 2 Gazette Notifications containing Regulations issued under Sections 2 of the Revenue
Protection Act No. 19 of 1962
III. 2 Gazette Notifications containing Regulations issued under Sections 14 of the Sri Lanka
Export Development Act. No 40 of 1979.
IV. 2 Gazette Notifications containing Regulations issued under section 3 of the Ports and
Airports Development Levy Act, No. 18 of 2011 : and
V. 01 gazette Notification containing Regulations issued under section 2 (a) of the Value Added
Tax Act No. 06 of 2005

7. Budget Debate Program -2023

The following program proposed for the budget debate related to the financial year 2023 was
presented by the Honorable Prime Minister for the approval of the Council of Ministers. The
program received the consent of the Cabinet of Ministers.

 Budget Speech (Second Reading of the Appropriation Bill): 14.11.2022
 Budget Second Reading Debate: From 15.11.20 to 22.11.2022 (07 days)
 Budget Committee Stage Debate: From 23.11.2022 to 08.12.2022
 Budget Voting : 08.12.2022

8. Restrictions on foreign travels for Ministers, State Ministers, and Government Side MPs on
sitting days of parliament and during the budget debate

The Cabinet of Ministers approved the Prime Ministe's proposal that ministers should not travel
abroad during sitting days of parliament and during the budget debate except in case of urgent
medical needs or very urgent work of the government, except in case of urgent medical needs or
very urgent work of the government.