Sri Lanka to implement capital loan scheme for tea; guaranteed price for rubber
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.
The bill is well discussed.The important task now is to use it for the benefit of the country & it’s people.A game changer indeed.
It is a shame, this is only taking place now. Sri Lanka and Myanmar had centuries of goods and passenger sea travel. As a maritime nation, Sri Lanka should bring back its old glory as being the crossroads between East and West. Sea travel and more people to people movement between Burma and Sri Lanka should be encouraged. This should have been done a long time ago.
In comparision with 2013 the country has imported over 15 mn k.g of rubber in to the country.The government correctly came up with a quantity & quality based scheme to strengthen the small holder.A service very Well done.Streamling system for timly payments is the final refinment needed.
Thank U H.E. P.M.FM ,Plantations & all officers.
The step take on traditional exports is quite commendably. The government must stop any form of corruptions and spending public money lavishly and direct them to good use