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Press briefing of Cabinet Decision taken on 2012-08-29
Suspension of recovery of loan installments from farmers in drought affected areas of the country
- H.E. the President informed the Cabinet of Ministers that, on representations made to him by farmer communities during his recent visit to the drought affected areas, instant action has been taken to direct the authorities concerned to suspend with immediate effect, the recovery of installments on cultivation loans and loans on pawned items obtained by farmers in the drought affected regions of the country due to the hardships experienced by them, until the harvesting of the Maha Season 2013, which facility will be in addition to the package of relief already provided to this category of farmers. His Excellency further stated that instructions in this regard has already been issued by the Secretary, Ministry of Finance and Planning to the Bank of Ceylon, Peoples' Bank, National Savings Bank, Regional Development Bank and the Rural Co-operative Development Bank.