CBSL Governor on “strengthening the SL tea industry”

CBSL Governor on “strengthening the SL tea industry”

Written by Lahiru Fernando

05 Nov, 2015 | 9:25 pm

Governor of the Central Bank of Sri Lanka (CBSL) Arjuna Mahendran attended an event in Kandy on Thursday, November 5, where he held discussions with number of local officials and bankers regarding the contribution of the Central Bank towards the development of the Central Province.

Speaking at the event, the Governor of CBSL said:

The Land Reform Commission which, since the 1970s, say that one cannot have more than 50 acres to cultivate………..Is 50 acres enough? What are the crops you can grow in 50 acres? Is tea economical to be grown in 50 acres?

He noted that no one has raised these questions during the past 30 to 40 years, adding that as a result, the Sri Lankan tea industry and its small holders are facing difficulties.

Arjuna Mahendran also stated that Sri Lanka has to try and increase the tea prices by improving demand. As examples, he stated that Sri Lanka should have trade missions with Russia, Iran and Saudi Arabia and see that they buy more of Sri Lankan tea.

The governor also added that the Central Bank has given one billion rupees to the Ministry Finance to distribute the money to the tea small holders, but noted that it is a temporary solution, in the longer term.

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