15 petitions filed at Supreme Court challenging Colombo Port City Economic Commission Bill

At least 15 petitions have been filed at the Supreme Court challenging the Colombo Port City Economic Commission Bill which was submitted to Parliament last week.

Several Trade Unions, watch dogs, civil society organizations including Bar Association of Sri Lanka (BASL), Centre for Policy Alternatives (CPA), Transparency International Sri Lanka (TISL) are among the petitioners.

TISL said it filed the petition today with the Supreme Court challenging the Colombo Port City Economic Commission bill, highlighting three key corruption concerns.

“The bill is in violation of several key articles of the Constitution and that it creates pathways for corruption, by facilitating or enabling illicit financial flows, and money laundering. TISL draws attention to the lack of transparency in ownership of the 'offshore' businesses that will be set up at the Port City, since ultimate owners of businesses registered need not be disclosed. Access to such information by law enforcement is crucial,” TISL said.

TISL said it is also concerned about the lack of transparency in relation to the operations of offshore banks in the Port City, that could be free from the purview of the regulatory framework applicable to local banks, posing a risk of turning the Port City into a secrecy jurisdiction.

“The bill leads to the evading of parliamentary oversight on public funds and matters within the port city, thereby creating a serious gap in public accountability,”

The petitions are scheduled to be taken up for hearing on a five member bench led by Chief Justice Jayantha Jayasooriya on April 19.