Cabinet Spokesman Minister Nalinda Jayatissa announced the decision, noting it builds on the earlier conditional approval by the Committee on Public Finance (COPF) under the Ranil Wickremesinghe Government in May this year.
The COPF had previously approved the suspension until December 15, 2024, with amendments to the Recovery of Loans by Banks (Special Provisions) (Amendment) Bill to facilitate the suspension.
This extension provides further relief to debtors while ensuring legal provisions align with the temporary halt of the Parate Law.
