- sashimaalTop contributor
- Posts : 5785
Join date : 2014-02-28
Sri Lanka to increase maximum Treasury bill limit by Rs400bn tomorrow
The cabinet approved the proposal last month to increase the limit from 850 billion rupees to 1,250 billion rupees.
The parliament earlier approved that the maximum borrowing limit of the government through various debt instruments is 1,780 billion rupees.
Since 2012, the limit on treasury bills has remained as 850 billion rupees as per the Local Treasury Bills Ordinance.
An early attempt to increase this limit was defeated by the opposition in Parliament led by Mahinda Rajapaksa faction in April this year.
- Hybrid
- Posts : 745
Join date : 2015-02-03
Location : Colombo
Re: Sri Lanka to increase maximum Treasury bill limit by Rs400bn tomorrow
That will have an impact on the FD borrowings and indirectly the CSE.
Are we ready for it?
Will there be other I pacts?
- Future123Active Member
- Posts : 1435
Join date : 2014-04-09
Re: Sri Lanka to increase maximum Treasury bill limit by Rs400bn tomorrow
sashimaal wrote:Oct 19, 2015 (LBO) –
The cabinet approved the proposal last month to increase the limit from 850 billion rupees to 1,250 billion rupees.
Since 2012, the limit on treasury bills has remained as 850 billion rupees as per the Local Treasury Bills Ordinance.
What's the need to increase the borrowing to that record level? It's more than 50% of the stipulated amount and even during war times I think we didn't borrow like this. The worst ever problem in Sri Lanka's history was the ethnic war and now it's over. Why do we have to borrow so heavily.
Are they borrowing for development? It looks like development work has been stopped. Even the broken roads are unattended for many many days.