Finance Minister Ravi Karunanayake has said today (02) in Parliament that foreigners will be not given free ownership of Sri Lankan land through the 2016-Budget as predicted by some opposition members but they will be given permission to obtain local lands for 99 year lease.The same criteria applied for China Funded Colombo Port City Project as well according to the Finance Minister.
The Minister has said that none of the current regulations on transferring the land ownership to foreigners have been removed through the Budget and only the Tax imposed on leasing of land to foreigners has been removed.
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