Sajith has repeatedly expressed concern about the parate execution, and the state minister of finance has granted relief on the ‘parate’ execution I Sri Lanka Latest News

State Minister for Finance Mr. Ranjith Siyambalapitiya said in Parliament that banks and financial institutions can repossess vehicles only if there is no objection from the owner due to non-payment of lease.Sri Lanka Latest News

The State Minister also mentioned that Parate execution is not being implemented for the repossession of vehicles.

The Minister emphasized that under Parate powers, a bank or a financial institution can repossess a property only if the relevant loan amount exceeds 50 lakh rupees.