Cabinet Decisions

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Issuing long-term resident Visas for foreign investors

Cabinet approved a new method for the issuance of long–term resident Visas depending on the amount of investment of US dollars, issuance of long–term residence Visa from five to 10 years for foreigners and directors, their spouses and dependents of foreign companies who invest at least US dollars 75,000 or more in condominium properties.

Implementation of a programme titled ‘Golden Paradise VISA Programme’ that enables issuance of residence Visa for 10 years for foreigners who deposit at least US dollars 100,000 in a commercial bank recognised by the Central Bank.

Eurasia Foundation of Japan to award research grants to KDU students

Cabinet decided to grant concurrence to award research grants to General Sir John Kotelawala Defence University by Eurasia Foundation of Japan by recruiting 200 students.

Steps have been taken by the Eurasia Foundation of Japan to grant US dollars 42,000 as a research grant to KDU to conduct a course under the theme ‘Cultural Relationships for an Asian Ideology’.

Evaluating proposals to furnish foreign exchange and energy supplied /contributed by various parties

Cabinet approved to appoint a committee headed by the Prime Minister’s Secretary and comprising four Secretaries to Ministries to submit recommendations to establish a mechanism to evaluate proposals to furnish foreign exchange and energy supplied /contributed by various parties.

The committee will oversee proposals considering its importance.

Certain friendly States, international suppliers and local private sector forward various sorts of bi-lateral concessionary loans, energy supplies and energy sector related resolutions as remedies to the foreign exchange crisis prevailing within the country. Although some of the proposals are apparent to be productive/effective proposals against the foreign exchange crisis encountered by the Government, there are no precise provisions to take further action within existing methodologies.

Introducing amendments to Electricity Act

The Attorney General has okayed to amend the Electricity Act No. 20 of 2009 as amended by the Electricity (Amendment) Act No. 31 of 2013. Accordingly Cabinet approved the proposal presented by the Minister of Electricity to publish the said Bill in the Government Gazette and thereafter present the same in Parliament for approval.

Free of charge visa extension for Russian and Ukrainian tourists

Since the crisis between the two countries has not yet subsided, Cabinet approved the proposal presented by the Minister of Tourism to extend the visa period of Ukrainian and Russian tourists staying in Sri Lanka so that they can remain further in Sri Lanka.

Cabinet approval has been granted on 28 February 2022 to extend the tourist visas issued to Russian and Ukrainian tourists in Sri Lanka for two months free of charge due to the Russia – Ukraine crisis.

Making the public aware of current political, economic and social problems

Cabinet approved to implement a programme through the Department of Government Information with the participation of relevant Ministries to make the public aware of the current political, economic and social problems that have arisen in the country.

BY Thameenah Razeek