Ceylon gained independence from Britain in 1948 and changes its name to Sri Lanka when it became a republic in 1972.The name Ceylon is a transliteration of Ceilao, the name of the country under Portugal, the islands first European colonial rulers. The adopted name, Sri Lanka, is much older and closer to the Sinhalese and Tamil names for the island.
Many state institutions, however, have continued to use the name, including the Bank of Ceylon, Ceylon Electricity Board, Ceylon Petroleum Corporation and Ceylon Fisheries Corporation.
Sri Lanka's government released a statement late last week saying it wanted legislation authorising the changes. With the ruling party holding a large majority in parliament, approval of suggested bills are considered a formality.
Although the government did not announce a date for the name change, it is likely to be made as early as possible this year.
Despite the change, the Ceylon Tea label is unlikely to be affected, as it is recognised in the international market for its quality and is the country's most famous export. The country is the world's fourth largest producer of tea and accounts for 15 per cent of the GDP and is worth about $700 million (£450 million).
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