Sri Lanka, Oct. 13 -- The Cabinet of Ministers granted approval to instruct the Legal Draughtsman to prepare a new draft for the Public Assets Management Bill, following a proposal submitted by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning, and Economic Development.

The original Public Assets Management Bill received Cabinet approval on July 22, 2024, for publication in the Government Gazette and subsequent presentation to Parliament.

However, the dissolution of Parliament in October 2024 prevented the passage of the legislation into law.

Following the dissolution, a committee comprising officials and subject-matter experts conducted a review to identify necessary revisions, resulting in a fres...