The government is in a move to issue a ten year US$ 500 million (60 billion yen) Samurai Bond package to repay foreign loans under the provisions of the Responsible Management Liability Act passed in 2003.
Mizuho Securities Company Ltd., SMBC Nikko Securities Inc., and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. will act as joint dealers for the bond issue.
Cabinet approval was granted this week for the proposal made by Finance Minister Mangala Smaraweera for this purpose.
The Cabinet nod was also given to purchase 480 125 CC motorcycles at a cost of Rs. 322,650 each from a local company on a proposal made by President Maithripala Sirisena as the defence minister.
Three A320 jet aircraft and seven aircraft engines belonging to SriLankan will be overhauled at a cost of US$ 57,785,317 (Rs. ten billion) on a request made by President Sirisena to the Cabinet. (Sandun A. Jayasekera)