Monday Apr 06, 2026
Monday Apr 06, 2026
Monday, 6 April 2026 05:25 - - {{hitsCtrl.values.hits}}
|
President Anura Kumara Dissanayake
|
The Government has published its 2026 Governance Action Plan, which sets out timelines for key structural reforms, including procurement legislation, State-Owned Enterprise (SOE) restructuring, and changes to the governance of the Employees’ Provident Fund (EPF), with several measures scheduled for completion within the year.
The plan outlines that the Public Procurement Bill is to be drafted and cleared by April 2026 and submitted to the Cabinet for gazetting by May 2026, with a target date of August 2026.
SOE reform is also scheduled for 2026, with the Public Commercial Business Management Bill expected to be drafted and submitted for Cabinet approval by April 2026. Key milestones include the formation of a holding company by August 2026 and the identification of entities to be brought under it, with overall targets extending to October 2026.
Reforms relating to the EPF are to progress through 2026, with a comprehensive review due by August and a policy paper with recommendations to be submitted to the Cabinet by September 2026.
The plan includes the continued publication of procurement contracts above Rs. 1 billion and details of tax exemptions on a semi-annual basis.
Further legislative measures scheduled within 2026 include the enactment of a public asset management law by June 2026 and the introduction of a public-private partnership (PPP) law, alongside the development of procurement guidelines for such projects by the end of the year.
Implementation of the Proceeds of Crime framework is also planned, including the establishment of a Proceeds of Crime Management Authority and the publication of the first annual report on its implementation during 2026.
Digitalisation initiatives are to continue, including plans to expand the digital land information system and the rollout of an electronic Government procurement platform, with timelines extending into 2027 and 2028 for full implementation.
Judicial and institutional reforms are also outlined, including measures to improve case management, establish additional commercial courts, and strengthen oversight mechanisms within the justice sector.
The plan also provides for the implementation of a beneficial ownership registry, including verification mechanisms, to be adopted by September 2026, alongside stakeholder awareness and compliance measures.
It further outlines plans to decentralise the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) through regional offices, with implementation steps scheduled through 2026 and operations expected to commence from 2027.
