Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena said that the Currency Department of the Central Bank of Sri Lanka (CBSL)has reduced the amount of coins and notes issued for annual circulation by nearly 50 percent compared to 2018.
According to the Monetary Act of Sri Lanka, the Central Bank has the sole authority to issue currency notes and coins to the country’s people, the Minister said. The Minister said that this constitutional responsibility assigned to the Monetary Board of the Central Bank of Sri Lanka is fulfilled by its Currency Department.
The Minster said that the Currency Department had issued currency and coins to the value of Rs.796.5 billion in 2018, Rs.776.2 billion in 2019, Rs. 697.3 billion in 2020, Rs.390.9 billion in 2021 and Rs. 385.5 billion in 2022.
Dr. Gunawardena was addressing a meeting with entrepreneurs engaged in the tourism industry at the Heritance Hotel, Negombo recently.
The Minister also said that neither politicians nor the public could make decisions or intervene in these matters, which are legal and technical.
The Minister said that in such a situation, it was reported that some groups forcefully broke into the Central Bank which is an independent financial institution and threatened officials.
He said that the advanced and informed society should condemn such defiant behaviour and the Central Bank should be allowed to fulfill its constitutional responsibilities freely.
The Minister also said that influencing officials at an institution where the country’s money is printed through thuggery shows the characteristics of a tribal social system.
Opposing any kind of violence in the country by the leaders and experts in the tourism industry, who have much knowledge about the future tourism business of the country and the use of international money, will boost the tourism industry, the Minister added.