Ministries to be funded in four quarters
Informed sources said the Ministry of Finance has decided not to release the full endowment allocated by the Budget to each Ministry.
Subject Minister Basil Rajapaksa informed the Cabinet that the entire amount set aside for each Ministry for development work will now be separated into four quarters.
He explained that the first instalment will be released to all Ministries, but warned that they will need to archive their targets to be eligible for the second instalment. The Minister further pointed out that Ministries will have to furnish bills and relevant documents for expenses incurred before finances for the second quarter can be released.