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SJB asks how govt. spent Rs. 5,780 bn worth of loans

The government has obtained loans amounting to Rs. 5,780 billion in less than two years but no explanation has been given as to how these funds were spent, Samagi Jana Balawegaya (SJB) MP Kabir Hashim said today.

He said the government has obtained about Rs. 2,850 billion in loans in 2020 and Rs. 2,950 billion after the budget 2021 was presented.

The MP accused State Minister of Capital Market Ajith Nivard Cabraal of failing to explain how the government utilized the loans that were obtained during 2020 and 2021.

Hashim also pointed out that a large amount of funds had been saved by the government last year due to the suspension of imports during the COVID pandemic.

“A total amount of $1.4 billion has been saved because of the lack of oil imports alone. A further $3.3 billion was saved due to import restrictions on imports such as vehicles,” he stated.

He asked as to what the government has done with the saved amount of $ 4.8 billion, which roughly amounted to Rs. 64 billion.

“The government saw fit to request for loans amounting to Rs. 5,780 billion even with this saving. We want to know how the government has utilized these funds,” he said.