Cabinet approves vote-on account ; Fuel price formula to be re-introduced : Mangala Samaraweera

Minister of Finance Mangala Samaraweera said that cabinet has approved the vote-on account (interim budget) involving the expenses of the government for the first quarter of 2019.

Addressing his first press briefing following his appointment as the Minister of Finance, Mr. Samaraweera said that the vote-on account would be submitted before Parliament tomorrow (Dec 21).

Issuing a press release, the Finance Ministry said Rs 1765 billion has been allocated from the interim budget for government expenditure out of which Rs 970 billion would be utilised for debt repayment purposes during the first quarter of 2019. 

The release further said that a sum of Rs 4 million has been allocated for the distribution of uniform vouchers amongst school students.

Minister Samaraweera also said that the fuel price formula will come into effect again as oil prices in the world market have dropped down.