News

CPC obtains loans at higher interest from State Banks

Published

1 year ago

November 18, 2022

editor

The loss-making Ceylon Petroleum Corporation (CPC) has obtained a loan from a state-owned bank at 28 per cent interest on the assurance of repaying within ten months without interest in order to pay an allowance of Rs.30,000 to nearly 5,000 employees.

The employees have been given this amount to purchase books for their children.

Accordingly, the interest for this bank loan is to be borne by the CPC.

Similarly, the CPC has obtained a loan from a state bank at an interest of 22% in order to give an allowance of Rs.50,000 to the employees for the Sinhala Tamil New Year. However, it was reported that the installments have not been paid although six months have already been passed.

A higher official at the CPC said the latest allowance will be given as an employee’s right to buy books for their children.

He said that it has not been mentioned that the loan amount of Rs.50,000 will not be collected but added the collection of the installments has not been commenced yet.

News

China to back digital education transformation project

Published

4 hours ago

May 7, 2024

nipuni

The Chinese Government has pledged support for Sri Lanka’s digital education transformation project.

This project is expected to enhance general education by providing classrooms, data centres, and necessary equipment like tables, studio rooms, and conference rooms.

These resources will facilitate blended learning methods, and resource sharing, and enable teachers with special skills to engage students effectively.

The Cabinet of Ministers has approved the proposal presented by the Minister of Education.

News

MoP fertilizer subsidies to farmer accounts from today

Published

4 hours ago

May 7, 2024

nipuni

The Department of Agriculture emphasizes that the application of Muriate of Potash (MoP) to paddy cultivation has been quantitatively reduced in the last few seasons.

According to the Department of Agriculture, it is mandatory to use MoP fertilizer to strengthen paddy pods as well as to improve the quality of paddy seeds.

But the use of MoP has decreased in the last ‘Maha’ season. Only 11,000 MT of MoP was used despite around 800,000 hectares being cultivated during the season.

Although the MoP requirement for the ‘Maha’ season is 30,000 MT, it appears that only one third was purchased by farmers.Therefore, in a bid to promote the use of MoP, it has been decided to credit the fertilizer subsidy money to the farmers’ accounts in this ‘Yala’ season.

The Department of Agricultural Development states that depositing subsidies will commence from today (May 07) with financial allocations scheduled to be given to the farmers who have finished planting paddy fields.

Authorities have assured that sufficient stocks of MoP are available in the country.