Press briefing of Cabinet Decision taken on 2024-03-18 (Subject to Confirmation at the next Meeting)

Providing Fertilizer Subsidy to the farmers for Yala Season 2024

- The National Fertilizer Secretariat has estimated that 110,298.1 MT, 27,711.1 MT and 33,412.4 MT of Urea, TSP and MOP chemical fertilizers respectively are required for paddy cultivation in Yala season 2024. Accordingly, taking into consideration the proposals submitted by the Minister of Agriculture and Plantation Industries, the Cabinet decided the following:

• Importation of fertilizer for Yala season 2024 by the Ceylon Fertilizer Company Ltd. and Colombo Commercial Fertilizer Company Ltd. and sell them to the farmers at a concessionary price competitively with the Private sector.

• Provision of an amount of Rs.15,000/- as a Financial subsidy per hectare for maximum of 2 hectares cultivated per farmer for paddy cultivation in Yala season 2024, by the Department of Agrarian Development.

• Direct remittance of the relevant financial subsidy to the bank accounts of the farmers.