Transport, Highways and Mass Media Minister Dr. Bandula Gunawardena yesterday said the government has decided to allow government institutions to open accounts in commercial banks if issuance of Letters of Credit for the import of essential commodities including medicine is impeded due to the strike action.
Minister Dr. Gunawardena said that the government arrived at this decision at a special Cabinet Meeting held under the patronage of President Ranil Wickremesinghe yesterday. It was decided at this Special Cabinet Meeting that Ministries, Departments, statutory boards be allowed to open accounts in commercial banks with the approval of Finance Ministry, the Minister said.
The Minister said that the Cabinet of Ministers discussed extensively about the risk of disruption of all financial activities, if transactions and opening of Letters of Credit are not possible through State banks due to the strike.
Minister Dr.Gunawardena said as the Letters of credit cannot be opened for the import of essential commodities including medicine, the Cabinet of Ministers allowed the government institutes to open bank accounts in commercial banks with the approval of Finance Ministry.