Press briefing of Cabinet Decision taken on 2023-05-02

Amendment of the Authorized Treasury Bill Issuance Limit

- Authorized Treasury Bill Issuance Limit approved by Parliament in November 2022 is Rs. 5,000 billion. The total outstanding Treasury Bill stock as at the end of March 2023 amounts to Rs. 4,636 billion. The approval of Parliament has been received for a gross borrowing limit of Rs. 4,979 billion. It has been estimated to raise Rs. 3,526 billion from local sources and Rs. 1,453 billion from foreign sources. The domestic borrowings are mainly fulfilled by the issuance of Treasury Bills and Treasury Bonds. Accordingly, it has been identified the necessity to amend the maximum limit of issuing Treasury Bills. As such, the proposal made by the Hon. President in his capacity as the Minister Minister of Finance, Economic Stabilization and National Policies to increase the Authorized Treasury Bill Issuance Limit up to Rs. 6,000 billion and move a Resolution to Parliament in that regard, was approved by the Cabinet.