Rs. 1 billion loan to Sri Lanka Cricket
Colombo (Srilankamirror) - The cabinet has decided to grant a Rs. one billion loan to cash-strapped Sri Lanka Cricket, which has been unable to even pay employees’ salaries, reports said.
Ministers who met on November 16 approved a paper presented in this regard by sports minister Mahindananda Aluthgamage.
SLC needs Rs. 23.2 m every month to pay salaries, and an additional Rs. 7.8 m to pay back bank loans.
Several ministers had initially refused to agree for the loan, but had relented after the sports minister’s clarifications, according to the reports.