Government to maintain price stability of paddy in Yala
The Government has taken several measures to maintain price stability in paddy.
The proposal by the President to increase the amount of pledge loan by 1700 million rupees given to the Paddy Marketing Board and other Government institutions by the state banks received the nod of the cabinet. The harvest of this Yala is expected to enter the market from mid August up to the first week of October and the estimated paddy production for this Yala Season is about 1.13 million metric tons.
The President, in his capacity as the Finance Minister informed the Cabinet that loan facilities amounting to 4950 million rupees have been provided by State Banks to the Paddy Marketing Board up to June, for the purchase of paddy.
The Treasury has provided a further 2000 million rupees to the Paddy Marketing Board for this purpose. 1,588 million rupees will be made available to the Board through pledge loans from the Banks to purchase paddy in Yala Season.