Cabinet Decisions

Introduction of a fuel price mechanism

The requirement of a mechanism to decide the sale price of petroleum products owing to a scientific methodology so that all the cost factors/components are exemplified with transparency for deciding the local sale price of petroleum products has been identified. Through such a methodology, building the trust within the consumers as well as building positive effect for financial constraints confronted by the Lanka Petroleum Corporation can be created. Accordingly, the cabinet of ministers granted approval for the proposal submitted by the Minister of Power and Energy to appoint a committee comprised of representatives of the Minister of Power and Energy pioneering while representatives of other relevant institutions in order to furnish appropriate recommendations to enable deciding the production price of petroleum products on monthly basis paying attention on six major cost components as well as to revise the price of petroleum monthly as per the mechanism prepared based on the above mentioned recommendations.

Extension of MoU on sending workers under Korean Employment Permit System

The two countries have signed a Memorandum of Understanding to send workers to the Republic of Korea under the Employment Permit System. Under the agreement, Sri Lankans are receiving employment opportunities in South Korea for 4 years and 10 months. The relevant Memorandum of Understanding should be extended every two years. Accordingly the Cabinet of Ministers approved the Proposal presented by the Minister of Labor and Foreign Employment to sign a new

Memorandum of Understanding (MoU) for a period of two years or for another period agreed by the Korean Government, subject to the terms and conditions of the previous Memorandum of Understanding.

Procurement for an International Financial, Legal Advisory Services to restructure External Debt of Sri Lanka

Cabinet approval has been given for the Procurement of an International Financial Advisory Service and an International Legal Advisory Service to Restructure the External Debt of the Government of Sri Lanka. There have been 28 proposals for International Financial Advisory Service and 23 proposals for International Legal Advisory Service. The cabinet of Ministers approved the proposal presented by H.E. the President to make procurement as follows based on the recommendations of the Steering Committees appointed by the Cabinet in connection with the said Procurement.

To award the procurement of International Financial Advisory Service to M/s Lazard· Institute of France To award the procurement of International Legal Advisory Service to M/s Cliffod Chance· LLP Institute

Appointment of Cabinet Spokespersons

The Cabinet of Ministers decided to appoint the following Cabinet Members as Co-Media Spokespersons:

(Dr). Bandula Gunawardena - Minister of Transport and Highways, Minister of Mass Media

Mahinda Amaraweera - Minister of Agriculture, Minister of Wildlife and Forest Resources Conservation

Kanchana Wijesekara - Minister of Power and Energy

Manusha Nanayakkara- Minister of Labour and Foreign Employment