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Sri Lanka to increase maximum Treasury bill limit by Rs400bn tomorrow

Oct 19, 2015 (LBO) – Sri Lanka’s Finance Ministry is to present a resolution in parliament tomorrow to increase the current Treasury bill limit by 400 billion rupees.
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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.
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An early attempt to increase this limit was defeated by the opposition in Parliament led by Mahinda Rajapaksa faction in April this year.