“The draft Bill prepared by the Legal Draftsman, received the Attorney General’s clearance,” Cabinet Co-Spokesman and Minister Bandula Gunawardena told journalists at the post-Cabinet meeting briefing yesterday.

He said the proposed Electricity Act is poised to bring about substantial institutional reforms within the sector, aiming to address the evolving demands of the industry.

The Cabinet of Ministers granted approval to introduce a new Electricity Act to cater to the contemporary socio-economic and administrative requirements when introducing institutional reformations for the electricity sector.

“The move will boost local and foreign investments, help a proactive approach to adapt to the changing dynamics of the energy landscape ensuring efficiency, sustainability and responsiveness to the needs of the people in reducing the energy,” Gunawardena added.

The proposal to this effect submitted by Power and Energy Minister Kanchana Wijesekera was approved by the Cabinet of Ministers.