The government has allocated Rs.11 billion to provide financial subsidies to 550,000 farmers who cultivate paddy in the Yala Season to buy fertilizer.

Mr.Mahinda Amaraweera, the Minister of Agriculture said that the government has focused on providing a financial subsidy for the purchase of fertilizer for farmers who are cultivating paddy during this Yala Season.

In particular, this subsidy is due to be provided with the aim of reducing the cost of production of the farmers. The Minister Amaraweera stated that President Ranil Wickremesinghe as the Minister of Finance has decided to provide Rs.20,000 for one hectare of paddy cultivation and Rs.40,000 for two hectares.  

 The government has to spend a sum of Rs.11 billion for this subsidy. About 550.000 farmers who cultivate paddy in the Yala season are entitled to this subsidy.

The TSP fertilizer required for the Yala season has already been provided to the farmers free of charge. The Ministry of Agriculture has focused on reducing the price of a bundle of urea fertilizer up to 10,000 rupees and reducing the price of a bundle of MOP fertilizer by 4,500 rupees from the current market price.

A Cabinet paper was also presented by Mr.Mahinda Amaraweera, the Minister of Agriculture as per the instructions of President Ranil Wickremesinghe, with regard to providing financial subsidy to the farmers who cultivate paddy in this Yala season. Accordingly, farmers can use this financial provision to buy the fertilizers they need.

Mr.Gunadasa Samarasinghe, the Secretary of the Ministry mentioned that the Ministry of Agriculture expects that the money will be used for the purchase of fertilizer by the farmers as it has been proposed to credit the money directly to the bank accounts of the farmers.