President Anura Kumara Dissanayake has directed the Treasury to implement two key subsidies aimed at providing relief to paddy farmers and fishermen, starting from 1 October, the President’s Media Division (PMD) announced yesterday (26).
As part of this initiative, a fertiliser subsidy for the Maha season of 2024/25 will be increased from Rs 15,000 to Rs 25,000 per hectare. The funds will be directly transferred to the farmers’ bank accounts, ensuring timely and efficient delivery.
This new subsidy aims to support farmers during the upcoming season by reducing the cost of essential agricultural inputs, the PMD said in a statement.
According to the Government’s policy statement, it is committed to sustainable agriculture, pledging to provide both chemical and organic fertilisers at subsidised rates in line with good agricultural practices.
The initiative is part of a broader effort to promote effective agricultural management and boost productivity across the sector.
In addition to supporting farmers, the Government will also provide a fuel subsidy for the fishing community, effective from 1 October.
The subsidy, available on a monthly basis, will be provided to both multi-day and one-day fishing vessels.
Similar to the agricultural subsidy, the funds will be directly deposited into fishermen’s bank accounts, aiming to reduce production costs and enhance the profitability of the fishing industry.
The policy also highlights the Government’s focus on sustainable development of the fishing sector, ensuring environmentally-friendly practices while increasing fish production to meet consumer demand at affordable prices.
Efforts are being made to offer financial and technical assistance to help restore marine fisheries, which are currently facing significant challenges, the PMD said.
