Rajapakse has retained the finance portfolio while Sarath Amunguma has been appointed new foreign minister.
Several ministers supporting President in the earlier cabinet have retained their portfolios.
However, ousted PM Ranil Wickremesinghe has demanded immediate convening of Parliament claiming he has the majority support.
Wickremesinghe called on their supporters to gather in capital, Colombo tomorrow to protest against President’s decision to sack him.
Meanwhile, a total of 126 legislators out of the 225-member Parliament signed a petition urging speaker to call an emergency session of parliament.
Parliament speaker has warned that the country’s political crisis could devolve into violence unless President reconvenes parliament.
In another development, police arrested MP Arjuna Ranatunga and later released him on bail over shooting incident yesterday where 1 person was killed and 2 injured.
Sri Lanka plunged into a political crisis on Friday when President sacked Wickremsinghe from his post and swore in Mahinda Rajapakse.