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Sri Lanka plantations salary supplement from cess fund: Finance Minister

Mar 14, 2019 11:01 AM GMT+0530 | 1 Comment(s)

ECONOMYNEXT - A salary supplement for plantations workers will come from an industry cess fund, Finance Minister Mangala Samaraweera said.

Plantations workers will receive 50 rupee supplements, taking the daily wage to 800 rupees, Samaraweera said.

The funds will come from an industry fund, Samaraweera said.

Plantations Minister Navin Dissanayake said about 1.2 billion rupees would be needed for the salary supplement.

The supplement would only apply to the tea industry, he said.

In 2015, Sri Lanka gave a price guarantee to tea and rubber producers, as global prices fell.

US tyre manufacturers then claimed Sri Lanka was subsidising rubber and dumping them in the US under anti-dumping laws.

Sri Lanka tyre makers had to go to court to remove the anti-dumping order. They said the subsidy was given so that they could buy rubber at higher than global prices. (Colombo/Mar13/2019-SB)


 

1 Comments

  1. Tilak March 14, 03:11 AM

    Points to ponder.a)Rubber prices in India in Kottam on 14.02.2019, for RSS4 per KG is USD 182.40.In LKR terms this amounts to LKR 332/KG.b)In Bangkok the the Rubber price for RSS1 per KG amounts to USD 182.40 or LKR 332/ per KG.(source Indian Rubber Board).The USD is taken at LKR 180/-for the conversion.In Sri Lanka the RSS1 or RSS 4 rubber prices are much much lower than in India somewht lower than Bangkok, the reason given by the local buyers industry are they can import from Vietnam at much lower prices.Who is dumping on whom ?What may be the causes. We are simply unlucky,or we have another pepper man around,or India is a power house it has those powerful market forces a industrial base that can clear local product at higher prices or the theory of free market is abused by some one, ect?Also note that here the said anti dumping order in the US has been removed by an court order(this mean the order is not legitimate) this is with some credible intervention from the SL side.

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