Wednesday Dec 25, 2024
Wednesday Dec 25, 2024
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The Treasury has paid off Rs. 84,461 million which were due by 31 December 2018 for various programs and projects implemented under different Government ministries and institutions, the Finance Ministry said in a statement yesterday.
Earlier the Treasury had been informed that Rs. 99,415 million was due as at 31 December 2018 for completing various projects undertaken by various Government institutions. Treasury Secretary, Dr. R.H.S. Samaratunga stated that 85% out of the total due payment had already been paid off. He said there were some shortcomings in the balance and action would be taken to pay off the entire amount once such shortcomings were cleared.
Having completed various contracts, constructions and procurements, Government ministries and other institutions forward their vouchers to the Treasury for payment by the end of the month of December each year.
The Treasury has been continuously making payments for such vouchers within the first three to four months of the following year since 2015.
However, there was a delay in making such payments in the last quarter of 2018 due to the uncertainty that hit the country. At the same time the passing of Budget 2019 could not be achieved in the year 2018. It was delayed until 5 April this year. Consequent to this delay, the sum of due payments at the end of the year 2018 had accumulated to an unprecedented Rs. 99 billion. Accordingly, this also caused delays in the settlement of payments for the year 2018, the statement said.
On the advice of Finance Minister Mangala Samaraweera, the Public Finance Department of the Treasury has been making arrangements to digitalise the Government Procurement System. Therefore, as commenced in 2015, the Treasury will be able to make all future due payments for Government procurements soon after such particular projects are completed.
