Vote-on-Account for two months

The United National Front (UNF) Government will present a ‘ Vote on Account’, a mini budget, effective for two months before presenting a formal budget for the rest of next year.

UNP parliamentarian Eran Wickremaratne said the Vote on Account would make provision for payment of public sector salaries, emergency purchases, including fuel, and repayment of foreign loans. It is expected that the Vote on Account would be presented on December 26.

He said the UNF had already decided that the remaining two weeks were not sufficient to present a full budget as a 29-day period was required to debate and pass the budget.

He said that if a vote on account was not passed the Government would face issues in carrying out day-to-day functions in the public sector due to the non-availability of funds.

Mr. Wickremaratne said that during 2019, the government was expected to repay

an estimated foreign debt of US$ five billion and the payments were due to begin in January.

Last week, the Sunday Times reported that lending institutions that had initially pledged money to Sri Lanka were now holding back till court decisions offered some clarity on the political situation.

Mr. Wickremaratne, earlier the minister of state for finance, said the Government expected to obtain some of the financial facilities that had been held back.