ECONOMYNEXT – Sri Lanka will raise fines specified in the country’s penal code to reflect current prices, Cabinet spokesman Bandula Gunawardana said.
“Since the old fines of old laws do not match the recent substantial rises in prices of goods and services, only small fines are made in relation to current prices,” Minister Gunawardana told reporters.
“The cabinet of ministers has approved the proposal to make the relevant legislative changes.”
Sri Lanka’s inflation hit 70 percent in 2022 after the rupee collapsed from 180 to 330 to the US dollar, after trillions of rupees were printed to suppress interest rates.
The Cabinet of ministers have granted approval to a proposed bill submitted by Justice Minister Wijdesdasa Rajapakshe to amend the legal fines as defined in the penal code, according to “the current financial value”, a cabinet decision dated 06.12.23 said.
The bill will be published in the government gazette and tabled in parliament.(Colombo/December/07)