Sri Lanka ParLiament will elect a new President at time where the country is facing massive financial constraints along with political uncertaining following the youth uprising demanding system change
Party leaders have reportedly decided to convene the Parliament on July 15 (Friday), following the President’s resignation.
SJB parliamentarian Ranjith Madduma Bandara said that nominations for the position of President will be accepted on July 18 (Monday) and that the President will be elected on July 20.
Speaking to reporters following the party leaders’ meeting at the parliament complex this evening (11), he said that the Parliament must be summoned and informed within 3 days after a president resigns.
He said that accordingly, the party leaders decided to convene Parliament on Friday (July 15), officially inform the House of the resignation and announce the nominations for the position before holding an election.
The date was set to receive the nominations for the presidency next Monday after the incumbent President resigns on the 13th, and that voting should be held within two days after accepting the nominations, he said.
He said a decision was reached to hold the election by next Wednesday (July 20). “Accordingly, the date was set for the parliament to appoint a new president for this country on the 20th.”
Sri Lanka Treasury is just managing day today public financial affairs amidst the cash out flow has surpassed the inflow at present, finance ministry data shows.
The performance of cash flow of the treasury is currently not so satisfactory during the first four months of this year as the cash inflows by way of revenue and other receipts amounted to Rs. 598.5 billion, as against the estimation of Rs. 613.7 billion, achieving the 97.5 percent from the estimate.
The first four months of 2022 cash outflow for both recurrent and public investment amounted to Rs. 1,249.3 billion as against the estimate of Rs. 1,210.2 billion. This was a 22.2 percent increase compared to Rs. 1,022.7 billion over the same period of 2021.
Total cash deficit as at 30th April 2022 was Rs. 650.8 billion, an increase of 15.5 percent compared to Rs. 563.6 billion deficit as at end April 2021 mainly due to increase the operational expenditure and public investment by 14.8 percent and 64.5 percent, respectively.
However, the closing negative cash and bank balance as at 30th April 2022 was recorded as Rs. 230.3 billion against the Rs. 620.5 billion which was prevailed as at 30th April 2021, Finance ministry data indicated.
Management of Government Debt is being handled within the total borrowing limit approved by Parliament for the year 2022 amounted to Rs. 3,200 billion, within which the utilisation of Government borrowings for the period from 01st January to 30th April 2021 was recorded as Rs. 1,754.1 billion, ministry sources said.
The net borrowing as at the end of the period under review was Rs. 1,148.5 billion.
