Spice industry thank govt for fertilizer subsidy

The Advisory Committee on Spice thanked President Mahinda Rajapaksa and Treasury Secretary Dr P B Jayasundera for the proposed fertilizer subsidy by the government.

Spice Sector Advisory Committee Co-Chairman Sarada de Silva thanked President Mahinda Rajapaksa and Treasury Secretary Dr P B Jayasundera for the extension of the proposed fertilizer subsidy for the spice sector by the government.

This would help drastic improvement in production of Spices over next two years if the scheme is implemented successfully.

The government annually spends Rs 40 billion for fertilizer subsidy. Earlier this month, the government has extended the subsidy to all crops. The subsidy was previously limited to a few selected crops including rice. Members of the Advisory Committee on Spice, requested the Industry and Commerce Minister Rishad Bathiudeen to convey their thanks to the President.

According to the proposals, price of cinnamon fertilizer to be reduced by 54 percent in the due course, from its Rs 2,950 per kilo to Rs 1,350 per 50 kilo bag. This would help the small producers who are the backbone of the Spice Industry.

"Minister, we in the industry thank the President and the Treasury Secretary for this initiative," Sarada de Silva, Co-Chairman of the Advisory Committee on Spices, said.

The Minister was at the meeting of the Advisory Committee on Spice last week held at the Export Development Board premises, Colombo.