It is reported that a cabinet paper presented by President Ranil Wickremesinghe as the Minister of Finance, Economic Stabilization and National Policy to issue loans of nine billion rupees to small and medium scale rice mill owners for the purchase of paddy crops in the high season (2023/24) has been approved by the cabinet. .
It is stated that loans are to be issued for small and medium scale rice mill owners up to a maximum of 50 million rupees, and for rice warehouse owners and rice stock collectors a maximum of 25 million rupees.
The loan repayment period is 180 days and the loan is issued at an annual interest rate of 15 percent. Four percent of it is borne by the Treasury.
Thus, it is stated that the paddy marketing board has not been given the opportunity to buy paddy in this high season.
