ECONOMYNEXT – Sri Lanka has adopted 75 new laws in the past two years, the island-nation the country with the most up-to-date legal framework in South Asia, President Ranil Wickremesinghe has said.
“After almost a century, we have implemented numerous reforms in the field of law. Over the past two years, we have enacted approximately 75 new laws. This is a significant achievement, considering that some parliaments work for even 4 or 5 years without passing this amount of laws,” Wickremesinghe said during the opening of the new Court Complex in Theldeniya on Wednesday (15).
The original Magistrate’s Court in Theldeniya was submerged under the Victoria Reservoir. The new court complex, a three-storey building, accommodates the Magistrate and District Courts along with other essential facilities.
“A government’s purpose is to work, and MPs should attend Parliament to fulfil their legislative duties. We have worked to introduce a new legal system by adopting these laws in Parliament.”
This new legal system will foster a new political culture in the country, Wickremesinghe said.
“We have also paid special attention to addressing delays in the legal process. For justice to be realized, the law must be executed in a timely manner. Efficient hearings will encourage more cases to be filed, ensuring that justice is served promptly.”
The rule of law should be reaffirmed in the country, Wickremesinghe said. “If people take the law into their own hands and destroy property, there is no law. The stability of a country depends on the rule of law. A country gains recognition only when justice is done; otherwise, there will be no development, and investment cannot be expected.”
Sri Lanka has agreed with the International Monetary Fund (IMF) to implement several laws to support an economic transformation, the president said. “Sri Lanka has previously been accused of violating IMF agreements, but now, with these agreements enforced by law, such violations are no longer possible.”
“Moving forward is imperative. Failure to comply will jeopardize the support we expect from the IMF. These laws are expected to be introduced after our June meeting with the IMF.”
The government has also presented three more draft bills that are scheduled for cabinet approval next Monday.
“Subsequent laws will follow after establishing the foundational framework of the economic transformation law. These actions are being undertaken in accordance with agreements reached with the IMF and countries that have provided loans. Discussions with private creditors are also progressing positively.” (Colombo/May15/2024)