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
Finance Minister appoints Ranel Tissa Wijesinha as new SEC Chairman
-- [1 hour and 15 minutes ago]
CSE launches a series of capital market workshops for corporates
-- [1 hour and 26 minutes ago]
Sri Lankan court finds extremist Buddhist monk guilty of threatening missing journalist's wife
-- [1 hour and 39 minutes ago]
Sri Lankan Marine biologist wins at British Council's first-ever Global Alumni Awards
-- [2 hours ago]
New UNICEF, Pay&Go service enables Sri Lankans to donate to UNICEF's work for children
-- [2 hours ago]
Low income families in Colombo receive newly built houses
-- [8 hours ago]
Mastercard to transform Sri Lanka's digital payments landscape with Mastercard QR
-- [8 hours ago]
Ceylinco Life reports enhanced net profit of Rs. 9.4 billion for 2017
-- [9 hours ago]
Sri Lanka SC judge recuses herself form Avant Garde Chairman's FR case
Immediate attention should be paid to the harassment of students by some teachers - President

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.