Loans for tea smallholders

Ramani Kangaraarachchi

The Government has agreed to give a working capital loan for tea industrialists in the private sector to overcome difficulties due to the existing crisis. This decision was taken following the meeting held between President Mahinda Rajapaksa and the stakeholders of the industry on Monday.

Chairman Tea Board, Lalith Hettiarachchi said President Mahinda Rajapaksa has agreed to provide concessionary loans through Commercial banks on the recommendations of the Tea Board to tea Smallholders. The meeting was organised by the Presidential Secretariat.

Private sector industrialists pointed out to the President that although the market is improving slightly compared to a few weeks back, it has not fully recovered and requested for a working capital loan to bring it to normalcy.

The President directed the Plantation Ministry to send out necessary circulars immediately to implement this decision.

President Rajapaksa had a different meeting for the Tea Smallholder’s where all the provincial Heads of the Tea Smallholder’s Association were present. Appreciating the budget proposal to reduce fertiliser prices they requested to implement it immediately.

A bail out package was also requested for the Tea Smallholders and the President informed that a survey is being carried out to see the possibilities.