Officials get legal power to implement DDO proposals | Daily News

Officials get legal power to implement DDO proposals

Finance State Minister Dr. Ranjith Siyambalapitiya says that the circular authorising the officers to implement the Domestic Debt Optimization (DDO) process has been issued. The power to convert treasury bills into treasury bonds,

 the power to grant the exemptions and benefits for the new programme, and the transfer of the power of the President to the Finance Ministry Secretary as well as the Superintendent of the Public Credit Division of the Central Bank to bear the cost of the new programme if any expenses are incurred by this circular are included in the circular, Siyambalapitiya added.

Accordingly, under the relevant Act passed in Parliament, government officials will have the necessary legal powers to implement the local debt optimization programme, the State Minister said.


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