Bill on Treasury Bill Debt Ceiling defeated in Parliament

Bill on Treasury Bill Debt Ceiling defeated in Parliament

Bill on Treasury Bill Debt Ceiling defeated in Parliament

Written by Staff Writer

08 Apr, 2015 | 10:27 pm

Deputy Minister, Dr. Harsha de Silva says that  Parliament has not approved the proposed increase to the Treasury Bill Debt Ceiling.

The bill presented by the government to increase the Treasury Bill Debt Ceiling by Rs. 400 billion, was defeated in Parliament on Tuesday April 7.

Deputy Minister Dr. Harsha de Silva, said in Parliament on Tuesday that as a result of using government revenue for debt repayments and interest payments, funds for day to day expenses were insufficient. The government proposed to increase the debt ceiling on treasury bills, to obtain short-term, low- interest funding. The bill was defeated in Parliament on Tuesday. with a majority of 21 votes.

Various views were expressed at present regarding the absence of the Prime Minister, the Subject Minister and the Opposition Leader, when the vote was called. Minister Finance Ravi Karunanayake noted that they hope to reduce the loans instead of paying high interest.

It had also been proven that there are 52 in Mahinda’s group; like Wimal Weerawansa who is trying to defeat Maithripala Sirisena. Since the Prime Minister was not present at the time, Nimal Siripala said a vote will not be called.

State Minister Children’s Affairs Rosy Senanayake stated that when Maithripala Sirisena took charge of the country, there were numerous issues that needed to be resolved quickly and the  bill on treasury bills was issued to vacate fraud in order to make up for their sins and wastage.

Leader National Unity Front Azad Sally noted that a bill was brought forward to increase treasury bills by 400 million. He stated that 70 people voted for it. Collectively there should be more than 100 votes surprisingly it has dropped to 31, he stated.

SLFP General Secretary MP Anura Priyadarshana Yapa stated that the argument over Arjuna Mahendran is not concluded. Neither the Prime Minister or the Finance Minister were present on Tuesday (April 7 . MP’s have a problem with pledging support when persons are taken forcefully based on whether the UNP or JVP have called them corrupt.

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