Sri Lanka raises limit to issue T-Bills to Rs. 6 TRILLION

COLOMBO (News 1st); Sri Lanka's Cabinet of Ministers have decided to raise the limit on issuance of Treasury Bills up to rupees 6,000 trillion and the proposal will be tabled in Parliament in the future.

Earlier, the limit on issuance of Treasury Bills approved by the Parliament was Rupees 5000 trillion.

The Department of Government Information said that the total balance of Treasury Bills to be paid at the end of March 2023 is Rupees 4,636 billion. 

Approval of the Parliament has been granted for a gross borrowing limit of Rupees 4,979 billion for the year 2023, and it has been estimated that Rs.3,526 billion from domestic sources and Rs.1,453 billion from foreign sources must be obtained Domestic borrowings are mainly secured by the Government through issuance of Treasury Bills and Treasury Bonds. 

Therefore the requirement of revising the existing maximum limit already existing for the issuance of Treasury Bills has been recognized, ,it added.

Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his office as the Minister of Finance, Economic Stabilization and National Policies to raise the limit on issuance of Treasury Bills up to rupees 6,000 billion as well as to table a proposal to the Parliament for the purpose.