Cabinet nod to President’s proposal for Public Finance Management Act
May 9, 2023 01:12 pm
The Cabinet of Ministers today (09 May) has given the approval to a proposal tabled by the President, in his capacity as the Minister of Finance, Economic Stabilisation and National Policies, to introduce a new Bill pertaining to public finance management.
Accordingly, it was agreed upon that a new Public Finance Management Act would be issued under the novel Extended Fund Facility (EFF) Sri Lanka was recently granted by the International Monetary Fund (IMF).
Thus, the Act is due to be implemented in parallel with the Budget (Appropriation Bill) for the year 2025, as per the proposal put forward by President Ranil Wickremesinghe.
