Govt. increases borrowing limit to Rs.1,088bn

14 February 2020 06:46 am - 4     - {{hitsCtrl.values.hits}}

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The Attorney General (AG) has given clearance for the government’s move to increase the borrowing limit to Rs.1,088 billion from Rs.735 billion envisaged in the Appropriation Act in a bid to raise money to settle bills for transactions done by the former regime, Leader of the House and Minister Dinesh Gunawardane told Daily Mirror yesterday.

He said the incumbent government operated on Vote on Account approved by Parliament for the first quarter of this year. However, he said, the government needed an additional Rs.340 billion to settle outstanding bills for transactions done by the previous administration.

“We need to settle huge bills of fertiliser suppliers. There are also payments to be made to Ceylon Electricity Board (CEB) and Ceylon Petroleum Corporation. A motion will be presented in Parliament next week seeking approval to increase the borrowing limit. Party leaders discussed this in the presence of representatives from the Attorney General’s Department. They gave the green light to proceed,” he said. (Kelum Bandara)

  Comments - 4

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  • Abeygunaratna Friday, 14 February 2020 06:58 AM

    Now all goes on the previous govt's account

    DillonDP Friday, 14 February 2020 07:37 AM

    Financing debt with debt, I know were heading towards a headlock

    Sambo Friday, 14 February 2020 07:56 AM

    What about when you left the government did you pay all the outstanding and left enough money to run the country. Every government that comes into power sings the same old song and the people are used to this now.

    Billa Friday, 14 February 2020 08:02 AM

    You pay their bills and they paid your bills!. Is this paying of bills over??


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