Sri Lanka, March 19 -- Based on an investigation by a committee of experts on the impact of the Covid-19 Virus to the basic economy Cabinet approval has been granted for the President to introduce a new economic package.

The President has granted the authority to the Secretary of the Ministry of Finance to bear required costs.

Cabinet approval has been given to pay arrears to national suppliers and contractors who had carried out government contracts in the year 2019.

At the same time a sum of Rs. 10 billion has been allocated to pay arrears due by the government to private institutions for pharmaceuticals.

Rs. 5 billion has been allocated to settle payment arrears of small and medium scale contractors.

At the same time steps have be...