Written by Staff Writer
08 Sep, 2022 | 9:31 pm
COLOMBO (News 1st); The most challenging issued face by Sri Lanka today amid an economic, and political crisis is food security and hunger, and this was highlighted in a recent paper produced to the Cabinet of Ministers.
It also states that the situation would grow even worse in the future.
Quoting the United Nations, the Cabinet Paper also noted that 1.7 mn Sri Lankans seek immediate food assistance.
Sri Lanka used to be known as a country that was self-sufficient in rice. So, how did it fall to its present state?
After Sri Lanka invoked a complete ban on Chemical fertilizers, it simply gave away Rs. 24 Billion for a Chinese Fertilizer deal, which led to much controversy.
Let's revisit that decision that led to another controversy.
When Sri Lanka lost the Chinese Fertilizer, the country looked to its neighbor India which was testing Nano Nitrogen Liquid Fertilizer.
According to revelations made in the Sri Lankan Parliament, Rs. 290 Million was deposited to a private bank account for this deal.
The Department of Agriculture ordered 2.1 million liters of Nano nitrogen liquid fertilizer from the Indian Farmers Fertiliser Cooperative in Gujarat.
The first stock of this Nano nitrogen liquid fertilizer was sent to Sri Lanka by air.
500ml of the fertilizer was imported at 12.45 USD, which is approximately Rs. 2,520.
However, the market value of the fertilizer in India stood at 3.23 USD, approximately Rs. 654.
Eventually, Sri Lanka paid Rs. 1,867 higher than the retail price in the Indian market for 500ml of fertilizer.
Accordingly, Sri Lanka would have incurred a total cost of approximately Rs. 7.8 billion additionally if it imported the entire stock at that rate.
1.7 mn Sri Lankans seek immediate food assistance, and isn't this deal too cause for that?
Shouldn't there be an investigation into such incidents, at least now?
27 Jan, 2023 | 05:32 PM
27 Jan, 2023 | 03:49 PM
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