A Petition Filed Against Proposed New Draft Foreign Exchange Control Act

Attorney- at- law , Darshana Veraduwagey has filed a public interest petition against proposed new draft Foreign Exchange Control Act, Stating that if the draft act is passed, the exchange control act currently implemented will be nullified. Further it states that it is against the Srilanka Constitution.

The petitioner has pointed out that as a result of this the powers of the Sri Lanka Central Bank and the Central Bank FinanceCouncil will be extinct and there won’t be any opportunity for taking any decision without the finance Minister’s approval.