President Responds to Commander's Request for Funds to Pay Welfare Loans
HE THE President Mahinda Rajapaksa, following representations made by Commander of the Army Lieutenant General Jagath Jayasuriya to Secretary Defence Dr. Gotabaya Rajapaksa over insufficiency of funds to pay the Distress Loan (ten-month loan), applied by all ranks in the Army, has instructed the Treasury to release a sum of Rs. 700 million on a priority basis. The popularly called ‘ten-month loan’ granted to all Army Officers and Other Ranks against a very minimal rate is deducted from their salaries within a period of five years.....