Cabinet introduces certified price for paddy

Colombo (News 1st): The weekly Cabinet meeting was chaired by President Gotabaya Rajapaksa last evening (Jan 22). A number of proposals including the introduction of a certified price for paddy, presentation of the budget and new implementation of new development projects were approved at the meeting. As per the proposal submitted by Minister of Agriculture Chamal Rajapaksa, a kilo of Samba of the Maha Season will be purchased at a price of Rs. 50. The harvest of the Maha Season is currently being reaped, and the expected produce is 3 million metric tonnes. The government pointed out that although the prices of rice slightly increased due to the import of rice being halted, the country saved about US$ 100 million in foreign exchange. Minister Chamal Rajapaksa proposed to the cabinet that rice should be purchased at a minimum certified price of Rs. 50, after considering the criteria on moisture. The Minister also proposed to grant concessionary loans to the private sector at 8% to purchase the paddy at the certified price.

Minister Bandula Gunawardena: A program has been formulated to purchase a kilo of moist paddy for Rs.45 and a kilo of dry paddy for Rs. 50. Concessionary loan facilities will be provided to the private sector at an 8% interest rate to purchase paddy. Journalist: A kilo of Nadu rice will be purchased at a fixed price of Rs. 38? Minister Bandula Gunawardena: Yes. Journalist: The current prices of Samba is Rs. 41 and Keeri Samba is Rs. 51? Minister Bandula Gunawardena: Yes, all types of rice that are at Rs.42 or Rs. 51 will be purchased at Rs. 50 if it is of the proper quality, and Rs 45 if it is not. Journalist: Then what is the price of Nadu? Minister Bandula Gunawardena: The previously fixed price. Journalist: So you will purchase it for Rs. 38? Minister Bandula Gunawardena: Yes.