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Press briefing of Cabinet Decision taken on 2012-08-22
The Paddy Purchasing Programme of the Government in Order to Stabilize the Paddy Price of 2012 Yala Harvest and Maintaining the Price Stability of Rice from September 2012 to March 2013
- the paddy harvest of the Yala Season 2012 is expected to enter the market from Mid August up to the first week of October 2012 and the estimated paddy production for this Yala Season is about 1.13 million MT. H.E. the President, in his capacity as the Minister of Finance and Planning, informed the Cabinet of Ministers that loan facilities amounting to Rs.4950 million have been provided by State Banks to the Paddy Marketing Board up to June 2012, for the purchase of paddy. The General Treasury has provided a further sum of Rs.2000 million to the Paddy Marketing Board for the said purpose. Rs.1,588 million will be made available to the Paddy Marketing Board through pledge loans from the Banks to purchase paddy in Yala Season 2012, in addition to the proceeds of sale of paddy stocks purchased in previous seasons by the District Secretaries/Government Agents of paddy producing Districts, utilizing around Rs.1,300 million released to them by the General Treasury. His Excellency also stated that action has been taken under the guidance of the Ministry of Agriculture, to develop four zones to produce rice for export purposes, in keeping with the budget proposals for 2012 and that the Ministry of Agriculture will coordinate the activities for the sale of this special variety of paddy produced by farmers in the said regions, to the export market.