Hirunews Logo
Rs.+2+billion+loss+per+year+due+to+former+President%E2%80%99s+cabinet+paper
Tuesday, 09 June 2015 - 19:42
Rs. 2 billion loss per year due to former President’s cabinet paper
45

Shares
5,427

Views
The ruling party revealed in parliament today regarding a loss of Rs. 2 billion per year, due to obtaining a foreign loan at a higher interest rate than the existing rate at the time, for the construction of the Hambantota Port.

Pertaining to a loan of USD 307 million which was obtained in 2007, the former President who was also the then Minister of Finance had issued a cabinet paper instructing to pay a stable interest rate of 6.3% for a period of 15 years.

Deputy Minister of Policy Planning and Economic Affairs Dr. Harsha de Silva stated that, even though today’s interest rate has dropped by 0.4%, the country is suffering a considerable loss by paying the 6.3% interest rate continuously.

Meanwhile, it was also revealed in parliament today, that during the previous regime a loan of Rs. 96,474 million rupees have been obtained by the RDA from 3 State banks without parliament’s approval.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
Heavy snow across the globe
Friday, 13 January 2017 - 9:29
Many countries are experiencing heavy snow, foreign media states. The temperature in England, Scotland, North Ireland and Wales has hit minus 10 degrees... Read More
News Image
Hiru News Programme Segments
189 Views
631 Views
2,223 Views
1,485 Views
9,480 Views
44,263 Views
Top