As of May 1, 2024, certain food grains and commodities categorized under 126 Combined Classification Codes will require an import control permit. Additionally, issuance of import control licenses pertaining to 53 Combined Classification Codes has been halted. The necessity to eliminate the import control license for food grains has arisen to combat illegal profiteering, prevent illicit grain imports, curb unjustifiable retail price hikes, ensure affordability for consumers, and safeguard domestic producers through appropriate taxation and quarantine measures.

In light of recommendations put forth by a committee chaired by the Secretary to the President and inclusive of members such as the Governor of the Central Bank, Secretary to the Treasury, and Senior Economic Advisor to the President, the Cabinet of Ministers has sanctioned the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization, and National Policies. This approval entails the removal of import control license requisites for mung beans, black gram, cowpeas, finger millet, soy flour, and peanuts, conditional upon submission of a National Phytosanitary License issued by the National Plant Quarantine Service. Additionally, measures will be implemented to safeguard local producers as recommended by the Ministry of Agriculture and Plantation Industries.

Furthermore, Sri Lanka, signatory to the Paris Agreement in 2016, adheres to its commitments aimed at curbing climate change. The agreement, adopted during the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change in 2015 (COP21), seeks to limit the global average temperature increase to below 2°C above pre-industrial levels, with efforts to restrict it to 1.5°C. Compliance requires states to execute nationally determined contribution targets, facilitated by two market mechanisms enabling the exchange and reporting of greenhouse gas reduction outcomes to achieve their objectives.

Amidst these circumstances, Sri Lanka is formulating a carbon market strategy and guiding principles, with technical support from the Dubai Regional Cooperation Centre of the United Nations Framework Convention on Climate Change. The completion target for this endeavor is set for the year's end. Concurrently, a multitude of project developers has submitted proposals across key sectors including electricity, industry, waste management, transport, agriculture, and forestry, aligning with Sri Lanka's objectives to mitigate greenhouse gas emissions.

Recognizing the importance of evaluating these proposals until the carbon market strategy and guiding principles are enforced, the Cabinet of Ministers has endorsed the President's proposition, appointing a committee chaired by the Secretary of the Ministry of Environment for this task.

Furthermore, the Department of Project Management and Supervision has presented a performance report on large-scale development projects, analyzing data from relevant ministries on financial and physical progress up to the first quarter of 2024. Out of 171 projects slated for implementation in 2024, all but nine are projected for completion by the end of 2026. To expedite ongoing projects and make room for new endeavors, the Cabinet has sanctioned the President's proposal, focusing on the expeditious completion of 58 projects with over 80% physical progress by year-end. Additionally, projects currently stalled due to insufficient funds will be referred to the National Operations Room Committee for further evaluation before additional investment.

In parallel, the National Education Policy Framework 2023-2033, designed to align with the vision of a fully developed Sri Lanka by 2048, underscores the imperative for transformative changes in the country's education system to ensure universal access and quality education for every student.

Recognizing the imperative for a comprehensive transformation in organizational structure, curriculum, and assessment methods to establish a sustainable long-term learning framework, the Cabinet of Ministers has endorsed a proposal based on recommendations from the Cabinet Sub-Committee, chaired by the President, regarding the formulation of the National Education Policy Framework. Presented by the Minister of Education, this proposal aims to institute the following measures to facilitate efficient and effective implementation of overarching education reforms:

Classification of schools according to international standards.Establishment of nine educational reform units, one for each province.Incremental expansion of Zonal Education Offices from 100 to 122 in a phased and prioritized manner.Creation of 350 School Boards, encompassing the existing 314 Zonal Education Offices, to enhance the oversight of schools, teacher performance, and school-based assessments.Structuring the entire school system into 1,220 school clusters, each comprising 8 to 12 schools, with designated leading schools.Recruitment of requisite personnel for the Sri Lanka Education Administration Service and Teaching Service.Moreover, the Cabinet of Ministers has granted approval to a resolution put forth by the President, acting as the Minister of Finance, Economic Stabilization, and National Policies, to instruct the Legal Draftsmen in formulating a draft Bill for the revision of the Value Added Tax Act No. 14 of 2002. This revision will incorporate amendments identified in line with recommendations provided by the temporary VAT committee. Established under the directives of a joint committee, chaired by the Government Accounting Committee in collaboration with the Sector Supervision Committee on Economic Crisis Redressal and the Sector Supervision Committee on National Economy and Physical Planning, along with the State Finance Committee and the Committee on Ways and Means, the temporary VAT committee aims to implement tax adjustments on Value Added Tax as per the Value Added Tax (Amended) Act No. 32 of 2023.

In response to the removal of tax reliefs from the Value Added Tax Act and to ensure the Act's coherence amid evolving tax revisions, the forthcoming Bill will incorporate mechanisms to mitigate unforeseen consequences while maintaining clarity. These adjustments will be based on various decisions made by the Cabinet of Ministers over time.

Furthermore, the Sabaragamuwa Provincial Council has petitioned the Urban Development Authority (UDA) for a parcel of land adjacent to the Provincial Council complex in Ratnapura New Town to establish a 'Hela Bojunhala'. The UDA has identified a suitable 23.10-perch plot, for which the Provincial Council has already remitted the assessed market value to the UDA. Consequently, the Cabinet has sanctioned the proposal put forth by the Minister of Urban Development and Housing to release the land to the Land Commissioner General for transfer to the Sabaragamuwa Provincial Council through the Ratnapura Divisional Secretary.

Additionally, the Ministry of Education and the Ministry of Sports and Youth Affairs have devised a collaborative initiative, with support from the private sector and civil society, to position Sri Lanka as a medal-winning nation in the 2032 Brisbane Olympics. This program also aims to facilitate talented athletes' participation in the 2028 Los Angeles Olympics, fostering significant achievements. To operationalize this ambitious plan, the Cabinet has greenlit a joint proposal presented by the Minister of Education and the Minister of Sports and Youth Affairs.

These Cabinet decisions underscore Sri Lanka's commitment to holistic reforms across various sectors, from education and taxation to urban development and sports. With a focus on long-term sustainability, efficiency, and achievement, these initiatives reflect the government's dedication to enhancing the nation's prosperity, resilience, and global competitiveness. Through strategic planning, collaborative efforts, and prudent decision-making, Sri Lanka endeavors to navigate challenges, capitalize on opportunities, and realize its vision for a prosperous and vibrant future.