2026-02-05 / Second Reading Debate: Institute of Real Estate Professionals Bill, Container Depot Operators Licensing Bill, and Licensing of Shipping Agents Amendment Bill - Member Contributions 2026-02-05
The Deputy Minister of Trade, Commerce and Food Security expressed conditional support for the Institute of Real Estate Professionals, Sri Lanka Bill, while raising concerns about potential jurisdictional conflicts. He provided background on Sri Lanka's valuation profession, noting that degree programmes began at the University of Colombo in 1972 before moving to the University of Sri Jayewardenepura, with graduates registering with an existing professional body to practise in public and private sectors. His principal concern is that the Bill may allow personnel from bodies such as the Urban Development Authority and the Department of Valuation to perform the same valuation functions under the new institute, thereby duplicating roles and creating institutional conflicts. He called for the Bill to be amended to clearly delineate the functions of each body and prevent future disputes that could undermine effective public administration.
Mr. Speaker, among the Bills debated today, I wish to raise a few points on the Institute of Real Estate Professionals, Sri Lanka Bill. In the valuation profession, the key foundation is the degree in valuation.
The degree first commenced at the University of Colombo in 1972, and from 1973 it moved to the University of Sri Jayewardenepura as a special degree. Initially about 25 students were admitted each year. Those graduates could pursue the valuation profession, though some took other employment including teaching. There is also a professional institution for valuation; those who obtain the degree register with the professional body and are then eligible to undertake valuation work in the public and private sectors.
Over time, issues have arisen with the establishment of this new institute. The concern is not the creation of the institute itself, which can provide a legal framework and professional protection, but that this Bill would enable those working in other agencies—for example, in the Urban Development Authority or the Department of Valuation—to perform the same valuation functions under the new institute, potentially duplicating roles and creating conflicts. Various proposals and discussions have taken place, including court rulings and subsequent guidelines.
It has been recognized that assigning the same function to two bodies will cause conflict. While establishing a strong professional institute is beneficial, we must ensure the legal framework avoids future clashes between groups. Therefore, if there are shortcomings in the Bill, they should be amended so that the institute is created in a way that prevents future disputes between the two groups and supports effective public administration. Thank you.