Govt settled Rs. 29,000 million owed to fertilizer companies - Agri Minister

Minister of Agriculture and Plantation Industries, Mahinda Amaraweera, has announced that the government has settled all outstanding payments amounting to Rs. 29,000 million that were owed to private fertilizer companies for the purchase of fertilizers over several years.

The minister made this statement during a discussion held today (22) at the Ministry of Agriculture and Plantation Industries, focusing on the progress of the Youth Agri-Entrepreneurship Village Programme.

Efforts are now underway to develop 160 villages across the island as the Youth Agri-Entrepreneurship Villages, with the aim of increasing food production, raising the income level of farmers, and attracting the youth to agricultural activities. 

The government has allocated Rs. 1,600 million for this purpose, and accordingly, each village will be provided Rs. 10 million under the first phase of project.

A number of companies were facing various financial difficulties due to the substantial arrears of Rs. 29,000 million owed to fertilizer companies.