The bill titled the Colombo Port City Economic Commission was gazetted on March 23 and the ruling Rajapaksa administration tabled it in Parliament last week. The petitions said that the Port City Commission to be established will be empowered under the Act to the detriment of the territorial integrity and sovereignty of Sri Lanka. Responding to accusations that it would end up being a centre for money laundering, Cabraal said Colombo Port City has not been exempted from money laundering laws. He said the directorate of the Colombo Port City Commission would be appointed by President Gotabaya Rajapaksa and not by the Chinese. The Colombo Port City project, expected to play a key role in China’s ambitious ‘Maritime Silk Road’ project in India’s backyard, is said to be the single largest private sector development ever in the island.

Source: The Nation April 18, 2021 03:45 UTC