Sri Lanka passes Public Financial Management and Economic Transformation bills
Sri Lanka’s Parliament passed the Public Financial Management Bill and the Economic Transformation Bill today (July 25) with amendments and without a vote.
These bills, presented on May 22, 2024, aim to strengthen the economy.
The Economic Transformation Bill, based on President Ranil Wickremesinghe’s vision, seeks to prevent future economic crises.
The Public Financial Management Bill focuses on improving accountability in managing public finances, aligning with IMF recommendations.
State Minister of Finance Shehan Semasinghe emphasized the bills’ role in maintaining economic stability.
He noted that while the Economic Transformation Bill includes clauses inconsistent with the Constitution, these can be passed with a special majority or, if amended, with a simple majority, as per the Supreme Court’s determination.

Latest Headlines in Sri Lanka
- Sri Lanka and India launch three key development projects to boost energy and agriculture April 6, 2025
- Bar Association calls for immediate investigation into youth’s death in Police custody April 6, 2025
- Sri Lanka President welcomes Indian PM Narendra Modi in Colombo April 5, 2025
- Sri Lanka sends special medical and relief team to earthquake-hit Myanmar April 5, 2025
- Seven Memoranda of Understanding (MoUs) signed between India and Sri Lanka April 5, 2025