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Rs. 50 Billion Spent for Fertiliser Subsidy

19 October 2012

SRI LANKA - A conference to explore solution for food nutrition security in Sri Lanka was held this week under the patronage of Minister of Economic Development Mr Basil Rajapaksa at the Water’s Edge.

It has been estimated that rising food prices have pushed 44 million people across the world into extreme poverty and a further billion people go hungry each day due to limited access or resources to secure food supplies, reports News LK.

Speaking at the conference, the Secretary to the Ministry of Finance Dr PB Jayasundera said that the agriculture, livestock and fisheries ministries are contributing heavily to the economy. He said that although Sri Lanka was a poor country 30 years ago, it is not a poor country anymore, and food in Sri Lanka is cheap compared to many other markets.

Dr Jayasundera speaking on the fertiliser subsidy said that Sri Lanka spent Rs. 50 billion, one per cent of the GDP, on fertilisers but at the same time, fertilisers produce results. He said that the use of organic fertilisers is growing very rapidly, and the Government is now making an effort to provide organic and affordable fertilisers.

TheCropSite News Desk

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