P’ment to debate new regulations on Port City

By Yohan Perera   

Parliament is to debate on new regulations pertaining to the Colombo Port City on February 22, House media unit confirmed yesterday.   

Two Regulations under the Colombo Port City Economic Commission Act published under the Gazettes 2299/46 and 2299/47 are scheduled to be passed in Parliament following debate on that day.   

The gazette notification 2299/46 lists qualifications which an investor should possess in order to obtain license to start up business in the Port City. A business has to pay US $ 2500 application fee and US $ 2000 annual fee as per the gazette 2299/46.