A short-term loan from a local bank to pay the employees of the Central Cultural Fund

Thursday, 02 July 2020 - 16:43

A+short-term+loan+from+a+local+bank+to+pay+the+employees+of+the+Central+Cultural+Fund

The Central Cultural Fund is facing a severe financial crisis due to low incomes due to the coronavirus pandemic.

Therefore, the request made by the Fund for obtaining a provision of Rupees 135 million monthly under the prevailing circumstances was brought into the attention of the cabinet of Ministers by the Hon. Prime Minister as the Minister of Buddha Sasana, Culture and Religious Affairs.

Accordingly, the approval of the Cabinet of Ministers was granted to facilitate for obtaining a short term loan grant from a local bank with the mediation of the General Treasury as a remedy to the issues confronted by the aforementioned fund and furnish with the necessary facilities for settling down the so mentioned loan grant by increasing the income of the Central Cultural Fund once tourism is recovered in the time to come.

Accordingly, Cabinet approval was given to obtain the loan from a local bank with the intervention of the Treasury.