President tells state banks to provide loans to Paddy Marketing Board for purchases

President tells state banks to provide loans to Paddy Marketing Board for purchases

President tells state banks to provide loans to Paddy Marketing Board for purchases

Written by Zulfick Farzan

04 Mar, 2022 | 6:02 pm

COLOMBO (News 1st); President Gotabaya Rajapaksa instructed the Bank of Ceylon and People’s Bank to provide loan facilities to the Paddy Marketing Board to purchase paddy, by keeping paddy stocks as a guarantee.

The President on Friday (4) visited the Paddy Marketing Board in Colombo and instructed officials to implement a program where the PMB would have a paddy reserve, after purchasing paddy for competitive prices.

The objective of the President’s inspection tour to the Paddy Marketing Board was to inquire into the steps being taken to purchase, store, and sell the paddy harvested during the Maha Season and also to ensure there is a continuous supply of rice to the local market.

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