Thursday, August, 18,2022

Sri Lanka to import 50,000 MT rice under India's loan assistance program

Colombo: Sri Lankan has decided to import 50,000 metric tons of rice under the Indian loan assistance program, to check an abnormal rise in rice prices, Prime Minister Ranil Wickremesinghe said on Thursday.

The decision was taken after a discussion was held at the Prime Minister's Office to allocate the necessary funds for this purpose to the State Trading Corporation under the Indian Loan Assistance Program, according to Prime Minister Ranil Wickremesinghe's Media Division. The decision is expected to avert a possible rice shortage in the future and curb the abnormal rise in rice prices in the crisis-hit island country.

Minister of Trade, Commerce, and Food Security Nalin Fernando, Parliamentarian Nimal Lansa, Former Minister Sagala Ratnayake, Secretary to the Prime Minister Saman Ekanayake and other public and private sector officials were present at the discussion held at the Prime Minister's Office on the Indian loan assistance program.

Meanwhile, Prime Minister Narendra Modi earlier said that India has provided all possible support to Sri Lanka and will continue to stand with the people of the neighboring country. PM Modi had said that India "will support democracy, stability and economic recovery," in the crisis-hit island nation.
India has sent assistance worth several billion US dollars to rescue the money-strapped Sri Lankan government accompanied by shiploads of humanitarian aid, cooking gas, large quantities of fuel, and medicinal supplies.

As Sri Lanka is going through a severe economic crisis, India is helping Colombo financially so that it can meet some of the more immediate needs and help stabilize its domestic economy.

Since March this year, Sri Lanka has been in the grip of an economic crisis unparalleled since the country's independence which sparked severe protests and political unrest leading to the resignation of President Gotabaya Rajapaksa's brother Mahinda Rajapaksa from the prime minister's post earlier this month and the appointment of Ranil Wickremesinghe as the country's prime minister. (ANI)

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