Proposal on Treasury Bill defeated in Parliament

Proposal on Treasury Bill defeated in Parliament

April 7, 2015   07:13 pm

A motion tabled by Finance Minister Ravi Karunanayake to increase the threshold of Treasury Bills was defeated in Parliament with 31 voting for and 52 against.

The government was keen on issuing Treasury Bills and Bonds locally and raising local borrowings to meet its expenditure since its spending has increased and revenue has decreased due to the government employees’ pay hike and the slashing of essential items and fuel prices introduced through the new government’s interim budget, according to the latest data of the Central Bank of Sri Lanka.

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