Parliament is due to meet on May 19.
President Maithripala Sirisena is expected to table the amendment before the cabinet for its approval before that, say the sources.
The Legal Draftsman’s Department is currently formulating the 20th amendment.
Dissolving parliament
Meanwhile, a senior UNP minister told Sri Lanka Mirror that the president has promised to the prime minister that he would dissolve parliament soon after the passage of the 20th amendment.
Cabinet spokesman Rajitha Senaratne said the government was yet to decide under which system the next election would be held.
Parliament would be dissolved only after the adoption of a new electoral system, which would be a combination of the first-past-the-post and the proportional representation systems, he added.