Posted on July 14, 2020 | Companies, Economy, Lead Story
Jul 14, 2020 (LBO) – Sri Lanka’s Treasury has commenced issuing confirmation letters verifying the bills due from the government to contractors and suppliers including for those in the construction sector.
Under this program, these letters will be issued in respect of the arrears for the years 2019 and 2020 reported on 31st May 2020, the Finance Ministry said.
These letters will be issued only to a licensed commercial bank nominated by the relevant contractor and a special account will have to be opened in the name of the contractor to pay the relevant arrears.
Accordingly, bills will be settled by the relevant ministry only through this special bank account in the name of the contractor.