Sri Lanka’s Treasury has adequate funds to pay govt employees: Finance Minister

May 12, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that government has enough money to pay employees’ salaries and for ongoing infrastructure development projects.

“We have enough money to pay government employees and for the projects,” Karunanayake said.
“But we won’t pay for the projects which have no agreements.”

He said this while replying to claims made by former President Chandrika Bandaranaike Kumaratunga that government face difficulties to pay its employees due to the depleted finances of the Treasury.

“I think what she (Kumaratunga) meant was that the state of the economy the new government had to face when they came into power. That was the base when we took over,”

“So that statement is baseless. We have enough money.”

Karunanayake said, the government was able to pay the salaries and other expenses even though the 400 billion rupee Treasury bill insurance which was tabled for parliament approval was defeated.

He further said that the government’s debt servicing (capital and interest) which is at 1290 billion rupees compared to the government’s revenue 1352 billion rupees, is extremely high and plans are underway to reduce it without placing much pressure on the tax payers.