Leading News from Sri Lanka::
Sri Lanka spends Rs. 65 billion for fertilizer subsidy
Thu, Apr 1, 2010, 06:53 pm SL Time, ColomboPage News Desk, Sri Lanka.
Apr 01, Colombo: Sri Lanka Minister of Agricultural Development and Agrarian services Maithripala Sirisena points out that the government has spent over Rs. 65 billion for the fertilizer subsidy during the last four years mainly for the farmers of rice, the major staple food of Sri Lankans.
Addressing a press briefing held in the Ministry, the Minister said that the government has shouldered to a burden of Rs. 26,065 an acre for fertilizer subsidy since 2005.
Eight paddy cultivation seasons have passed since the initiation of the fertilizer subsidy and the cost for the government for a farmer that owns two and half acres is Rs. 521,300, he said.
The cost for a farmer that owns three acres is Rs. 625,560 while the cost for a farmer that owns five acres in major farmer colonies is Rs. 1,042,600.
Sri Lanka provides a 50 kilo bag of fertilizer at a subsidized price of Rs. 350 for the farmers while the government purchases the same amount of fertilizer at a price well over twenty times the selling price.
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