Cushioning the financial burden O/A COVID-19

Monday, 1 June 2020 00:00 -     - {{hitsCtrl.values.hits}}

The Government to issue Promissory notes with a face value of Rs. 100,000, Rs. 500,000 and Rs. 1,000,000, signed by the Prime Minister/Minister of Finance and the Governor of the Central Bank, payable on demand to a total value of around Rs. 50 billion. 

To help the National Cause, notes to be marketed to the public through Commercial Banks at a discounted price of 3%.

All sale proceeds will go in to a special designated account at the Central Bank.

Provided the rehabilitation process goes on efficiently and progress is made, pricing of these vouchers will vary over a period of time and will even be saleable at a premium.

Rienzie Wijetilleke

Colombo 07