CoPF approves tea exports regulations, cheque law reforms and AI pilot in Parliament

Saturday, 19 July 2025 01:04 - - {{hitsCtrl.values.hits}}

Committee approves Rs. 3 per kilo licence fee on tea exports under the Tea (Tax and control of export) Act; money directed to SLTB’s capital fund to support replantation, revival of abandoned estates and factory upgrades
Raises concerns over non-allocation of tea cess revenue for industry development
CoPF Chair MP Dr. Harsha de Silva stresses need for such funds to support export growth
Clears Bills of Exchange (Amendment) Bill, enabling criminal penalties for fraudulent cheques and allowing e-cheque presentation
Endorses pilot test of an AI platform to modernised Hansard and Committee meeting documentation in Parliament

The Committee on Public Finance (CoPF), chaired by MP Dr. Harsha de Silva, recently approved key regulations and reforms impacting the country’s tea industry and financial system.

The Committee approved the Regulations under the Tea (Tax and control of export) Act, No. 16 of 1959. Accordingly, officials stated that a license fee of Rs. 3 per kilogram of tea is expected to be charged, and that this license fee is intended to be utilised for the development and promotion of tea cultivation and the tea industry.

It is expected that the collected funds will be credited to the capital fund established by the Sri Lanka Tea Board (SLTB).

SLTB officials said through this initiative, opportunities will arise to improve the productivity of tea estates by engaging in replantation, initiating plantations and cultivation of abandoned estates, as well as enhancing the efficiency of tea factories and the quality of production.

Meanwhile, concerns were raised regarding the revenue generated from the Cess imposed on tea, which is an export crop, not being allocated for the development of the industry. However, the officials informed the Committee that these funds are not received by their Board.

Accordingly, the Committee Chair emphasised the importance of ensuring that the revenue generated from the said cess imposed for the purpose of export development should be allocated for the promotion of the respective industries.

In the meantime, the Bills of Exchange (Amendment) Bill, intended to amend or repeal outdated provisions of the Bills of Exchange Ordinance No. 25 of 1927, was also discussed and approved by the Committee.

Officials informed the Committee that through this amendment to the Ordinance, it will be possible to impose criminal liability on issuers of fraudulent and erroneous cheques, to facilitate the lawful use of Bills of Exchange in day-to-day commercial activities, and to provide for procedures related to the electronic presentation of cheques.

Moreover, with the agreement of the CoPF, a pilot test of a secure AI platform to modernise the system for preparing Hansard reports and minutes of committee meetings in Parliament was also successfully conducted at meeting.

The meeting was attended by State Minister Chathuranga Abeysinghe, MPs Harshana Rajakaruna, Dr. Kaushalya Ariyarathne, and Champika Hettiarachchi, while MPs Nimal Palihena and Wijesiri Basnayake joined via Zoom technology.

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