Treasury issues letters confirming Rs. 9.6bn arrears to contractors and suppliers

Sep 24, 2020 (LBO) – Sri Lanka’s Treasury has completed issuing confirmation letters verifying the bills worth 9.6 billion rupees due to 303 government contractors and suppliers.

Under this program, these letters will be issued in respect of the arrears for the years 2019 and 2020 reported on 31 May 2020, the Finance Ministry said.

Most of these letters (116) have been issued for arrears on projects related to the Ministry of Education. Letters have also been issued to 109 contractors and suppliers for arrears of projects related to the Ministry of Highways.

These letters have been issued only to a licensed commercial bank nominated by the relevant contractor and a special account opened in the name of the contractor to pay the relevant arrears.

Accordingly, bills have been settled by the relevant ministry through this special bank account in the name of the contractor.