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Tuesday January 25th, 2022
Agriculture

Sri Lanka to lease 1,750 hectares of Mahaweli land for commercial crops

ECONOMYNEXT – Sri Lanka will lease 1,750 acres of land to investors for commercial food crops including for export and animal feed, a government statement said.

The Cabinet of Ministers had approved a proposal to give the land to selected investors on long-term leases.

“It is designed to encourage investors to grow essential food crops that can be grown locally in order to minimize the negative impact on the Sri Lankan economy caused by the influx of foreign exchange for food imports in the Covid 19 epidemic,” the statement said.

“Also, one of the main objectives of the Saubhagya National Food Production Promotion Policy is to increase milk production and local production of animal feed. ”

Sri Lanka has been engaging in various schemes to ‘save foreign exchange’ without putting laws to control liquidity injections of the central bank. (Colombo/Dec07/2021)

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