Govt. has unpaid bills of about Rs. 200 billion - Finance Secretary

 

The government has unpaid bills of about Rs. 200 billion, mainly to the construction and various other institutions, says the Secretary to the Ministry of Finance Mahinda Siriwardana. 

He stated that the government has come up with revenue and tax policies because the government is unable to pay those bills. Because your revenue is not sufficient even to pay for your essential items like the salaries, wages, maybe subsidies and all sorts of things.”  

“And as a result, I have indicated this earlier also, we have unpaid bills of about Rs. 200 billion and mainly those are to the construction and various other institutions. However, he said that at the same time while paying all these essential items, the government has to manage the other things as well. 

You know central bank financing or simply money printing was a simplation. “So you have to maintain the public sector and you have to continue the government machinery and at the same time you have to contribute the stabilization.