Press briefing of Cabinet Decision taken on 2013-07-25

Purchase of paddy harvest of the Maha 2012/13 and Yala 2013 and selling of purchased paddy stocks

- the estimated paddy production of Maha 2012/2013 was around 2.72 million MT, and the production has increased by 10% in Mannar and Vavuniya Districts, 42% in Hambantota District and 55% in Kurunegala District. A sum of Rs.899 million has been released as advances to the District Secretaries of the relevant Districts for the purchase of paddy and the stock of paddy purchased as at 30th June, 2013 stands at 22,705 MT. Harvesting of paddy of the Yala Season 2013 commences towards the end of July, 2013. Pledge loan facilities to be provided by the State Banks to the Paddy Marketing Board to purchase paddy in Yala 2013 amounts to Rs.1650 million. The proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to proceed with the relevant activities, and to authorize the Secretary to the Treasury to allocate Rs.1500 million for the purchase of paddy of Yala 2013 from the Revolving Fund of the General Treasury, since the anticipated paddy production of Yala 2013 is greater than that of 2012 in the Districts affected by the drought in Yala 2012, was approved by the Cabinet.