No discussion yet to amend unfavorable conditions of MCC compact, says Cabraal

Sep 10, 2020 (LBO) – State Minister of Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal says that the government has not yet discussed with the Millennium Challenge Corporation (MCC) about amending the unfavorable conditions of the MCC compact.

Responding to a question raised by the Opposition Leader Sajith Premadasa, Cabraal told Parliament that the government has so far followed the formal procedure by appointing a committee to review the compact.

“It is common practice to follow a formal procedure in amending international agreements,” State Minister Cabraal said.

“Therefore, as a responsible government, a committee was appointed to look into the proposed agreement. The committee report outlines a review of conditions unfavorable to Sri Lanka.”