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| Wednesday, 4 August 2004 |
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Seylan Bank, Ceylinco Semp Corp to ensure guaranteed price for paddy farmers By Sudarshana Perera
Seylan Bank and Ceylinco Semp Corp would embank on an ambitious program to ensure a guaranteed price for paddy farmers while introducing the latest warehouse technology in rural areas. The Ministry of Trade, Commerce and Consumer Affairs has already agreed to allocate two warehouses for the purpose in Anuradhapura and Polonnaruwa and this program comes in the wake of the discussions, Dr. Lalith Kotelawala had with Minister Jeyaraj Fernandopulle. Dr. Kotelawala said that these two institutions would tie up with paddy purchasers and small-time millers in the respective areas to kick start the program. The Ceylinco Semp Corp, a joint venture with a Singapore based company would help upgrade the warehouses with the latest technology such as bar coding while mill houses will be introduced with all the up-do-date milling facilities. He said that Seylan Bank would issue a credit card "Govi Sampatha" to farmers and paddy purchasers would be given facilities to deal with credit card transactions particularly for payments in purchasing paddy. Seylan Bank would pump the capital for this project. "We are not getting into paddy purchasing business but to create a conducive background to ensure a guaranteed price for paddy harvests. The program would extend finance and technology assistance to farmers and millers. Small and Medium millers would also be provided with loans and Ceylinco Semp Corp would draw up a comprehensive plan in this regard. We want to create a robust chain in rural areas in facilitating the purchase of paddy . The program would be launched very soon and we want to get the farmers engaged in agriculture out of the poverty cycle", he said. |
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