President Ranil Wickremesinghe has informed the cabinet that fund allocations made via the budget for all ministries will have to be cut down by 5%, Cabinet Spokesman Bandula Gunawardena said.
Speaking at the Cabinet briefing held earlier today (10), he said that the Treasury is facing a severe depletion of funds, worse than earlier anticipated.
The minister also said that the payment of Samurdhi allowance is also likely to be delayed by a week or two.
