Bill will be in line with IMF programmes and provide funds for parliamentary elections
President Ranil Wickremesinghe has directed Finance Ministry officials to be prepared for a vote-on-account to be presented immediately after the presidential election.
The President has also directed that the vote-on-account should be in line with the policies and targets of the International Monetary Fund (IMF).
Finance State Minister Shehan Semasinghe told the Sunday Times that at a meeting with Finance Ministry officials, the President explained that since a parliamentary election was to follow the presidential election, there would not be provisions to pass a budget, and, therefore, they should be prepared with the vote-on-account.
To ensure the sustainability of the IMF programme during the election period, the President had made the necessary arrangements to reach the required targets, the state minister said.
“In view of the elections, the IMF programme should not be interrupted,” he said.
Mr. Semasinghe said the targets had been prepared to ensure that the next staff-level agreement with the IMF could be reached without issues.
The next staff-level visit is due in December, and the next tranche is due in the first quarter of next year.
A senior Finance Ministry official said a vote-on-account was usually valid for three months, but the elected president can extend it until a new government is formed after the parliamentary elections.
He said that so far, the Treasury had allocated money only for the presidential election, and if required, the allocations for a parliamentary election could be included in the vote-on-account.
The vote-on-account will cover the expenses of public sector salaries and the maintenance of government services.
Source: Sunday Times print edition
