State Minister of Finance Ranjith Siyambalapitiya says that President Ranil Wickremesinghe has directed him to conduct a comprehensive analysis of interest rates applicable to the savings of senior citizens.

Siyambalapitiya claimed that around Rs. 80 billion rupees is required annually for senior citizens’ savings, with an outstanding debt of Rs. 105 billion to be repaid from the treasury for previous allocations.

The Finance State Minister also emphasized President Wickremesinghe’s dedicated and sensitive approach to addressing this issue, affirming that all requests regarding interest rates for various age groups will be thoroughly analysed.

Furthermore, he assured that a detailed report will be provided to the President, taking into account the current cash flows within the country.

source adaderana

Senior citizens’ bank interest income below Rs.100,000 exempt from WHT