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Sri Lanka paddy millers to get interest subsidy: Finance Minister

ECONOMYNEXT – Sri Lanka’s government will introduce an interest rate subsidy for paddy millers and take action to improve and expand storage facilities, Finance Minister Ravi Karunanayake told parliament.

Delivering the 2017 government budget speech, he said the government will set up storage silos in selected farming areas.

Funds will be allocated in the budget for the interest subsidy, he said.

The government wants farmers to get a good price for their produce and will encourage the development of farmer co-operatives, Karunanayake said.

Links between small farmers and big buyers will be strengthened.

“I will encourage the outgrower model,” Karunanayake said.
(COLOMBO, Nov 10, 2016)

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