Sri Lanka to implement capital loan scheme for tea; guaranteed price for rubber

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June 26, 2015 (LBO) – Sri Lanka’s cabinet has decided to implement a capital loan scheme for the tea industry and a guaranteed price scheme for the natural raw rubber.

The capital loan scheme will be implement for all owners of tea industries through all State and Commercial Banks.

The Cabinet has approved to provide an interest concession of 2 percent from the Treasury for such loans for a period of two years for the relevant financial institutions.

The cabinet has also decided to introduce a price scheme for the natural raw rubber taking into consideration the shortages and delays being experienced in the implementation of the guaranteed price scheme for the natural raw rubber being produced by the rubber small holders.

It has been decided to implement the project by obtaining 2,063 million rupees from the Treasury to implement the programme until the end of September this year.