Minister of Agriculture, Livestock, Land and Irrigation – K.D. Lal Kantha has announced that the government has decided to import 300,000 MT of maize.
Speaking to the media after attending a District Development Committee meeting at the Kandy District Secretariat yesterday (July 03), the Minister explained that this decision was taken to prevent traders from artificially inflating maize prices.
He stated that certain large and medium-scale businesses dealing with animal feed have been hoarding maize, buying it from farmers at fair prices and reselling it at much higher rates.
According to the Minister, these traders were trying to push maize prices up to Rs.190-200 per kilogram, which would have driven up the cost of eggs to Rs.200 each and increased meat prices significantly.
The Minister emphasized that while businesses are entitled to make a profit, the government will not allow unfair price manipulation. He also noted that, in the past, even ministers profited from animal products, but those days have ended and racketeers will not be allowed to control the market.
To prevent excessive price drops that could hurt farmers, the Food Security Committee has proposed imposing a tax on imported maize, he said.
The Lanka Indian Oil Company (LIOC) has donated Rs. 100 million to the President’s Fund.
Mr. Dipak Das, Managing Director of Lanka Indian Oil Company, handed over the relevant cheque to Dr. Nandika Sanath Kumanayake, Secretary to the President, at the Presidential Secretariat today (July 04).
It is noteworthy that this donation is in addition to the contributions Lanka Indian Oil Company already makes to the education, health and cultural sectors in the country.
Mr. Roshan Gamage, Senior Additional Secretary to the President and a group of representatives from Lanka Indian Oil Company were also present at the occasion.
Mr. Das was a part of the CEOs delegation of the Confederation of Indian Industry (CII) who was in Colombo from June 29 – July 02.
The Central Bank of Sri Lanka (CBSL) has initiated resolution action against Nation Lanka Finance PLC (NLFP), effective from today (July 04) due to continuous violations of the Finance Business Act No. 42 of 2011 and related regulatory directives.
The company has been facing a deteriorating financial position marked by capital deficiencies, poor asset quality, ongoing losses, and failure to repay depositors.
The management of City of Dreams Sri Lanka has urged the public to be aware of unauthorized tickets being circulated for its Grand Opening event, which is scheduled to take place on August 02.
In an official statement, the organizers emphasized that the event is strictly by invitation only and that no third parties have been permitted to sell, distribute, or issue tickets for the occasion.
“We have received reports of counterfeit tickets being offered via unofficial sources. We strongly advise the public to remain vigilant and avoid engaging with such offers,” the announcement stated. For any inquiries or clarifications, the management encourages individuals to use the official communication channels of City of Dreams Sri Lanka to obtain accurate information.
