Lankapage Logo Recent Top Stories
CP 13 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Fertilizer subsidy for Sri Lankan farmers amounts to Rs. 60 billion
Thu, Dec 6, 2012, 01:29 am SL Time, ColomboPage News Desk, Sri Lanka.

Dec 05, Colombo: The Deputy Minister of Agrarian Services and Wildlife S.M. Chandrasena said that there is no change in the fertilizer subsidy given to the farmers.

The government will give a bag of 50 kilograms of fertilizer costing Rs. 3,500 to the farmers at Rs.350 incurring 90 percent of the cost. The annual expenditure for the government on fertilizer subsidy amounts to Rs. 60 billion, the Minister pointed out.

He noted that despite the huge amount of concession on fertilizer, the government has to pay compensation to farmers when the harvest is affected by the drought, flood or wild animals.

Although the Agricultural Insurance Board has introduced an insurance scheme as a solution to cover the losses only five percent of the farmers contribute to this scheme.

The Minister said therefore an insurance charge of 150 rupees will be made when a fertilizer bag is purchased for Rs. 350. The insurance charge will not be utilized for any other purpose but to provide compensation when disaster strikes, the Minister stressed.

He dismissed the reports that the government has increased the price of fertilizer to 500 rupees saying that there is no plan to increase the price.



ColomboPage - Recent 10 Stories
CPJ welcomes new probe into murder of journalist Lasantha Wickrematunge
-- [4 minutes ago]
Sri Lanka Prime Minister to visit New Zealand, India
-- [26 minutes ago]
Sri Lanka slides down the ranks of Global Competitiveness this year
-- [1 hour and 32 minutes ago]
Cinnamon Life announces launch of second residential tower 'The Suites at Cinnamon Life'
-- [3 hours ago]
Sri Lanka maintains policy rates, adequate measures are in place to contain monetary expansion
-- [4 hours ago]
U.S. supports cultural preservation of Sri Lanka's Galle Fort
Indian Minister's visit emphasizes the importance of Sri Lanka as trading and investment partner for India
Sri Lanka Navy accused of snapping Tamil Nadu fishermen's fishing nets
Sri Lanka hosts international conference to mark Right to Information Day tomorrow
National Mosquito Control Week begins today

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.