The proposal to increase the competitiveness of purchasing paddy and encourage paddy production in the coming Maha season has received Cabinet approval.
The paddy harvest of the Yala season for 2024 has commenced, with the Cabinet already having approved pledged loans up to a maximum of Rs. 6,000 million to small and medium-scale mall owners under a concessionary interest rate to purchase paddy in the Yala season.
However, the Cabinet has now approved the proposal presented by the President and the Minister of Plantation Industries to increase the competitiveness of purchasing paddy and encouraging paddy production in the coming Maha season.
Approval has been granted for the following;
- To grant the provision of Rs. 500 million to the Paddy Marketing Board to actively participate in the paddy purchasing program of the Yala season in the year 2024.
- To purchase the Nadu paddy at Rs. 105/- per kg, Samba paddy at Rs.115/- per kg and Keeri Samba at Rs. 130 /- per kg
- To increase the fertilizer Subsidy, Rs. 15,000/- which has been paid at present per one hectare, up to Rs. 25,000/- to encourage the farmers for paddy cultivation enabling them to obtain maximum paddy harvest in the coming Maha season. (Newswire)
