Sep 23, 2020

Sathosa seeks loan to stock up rice Featured

Lanka Sathosa has reportedly requested a loan of Rs. 2,241 million from the People's Bank to import rice required to maintain a safe stock of rice in the country.

Trade Minister Dr. Bandula Gunawardena has requested the Cabinet to issue a Treasury guarantee for the loan, which is for a period of four months.

Noting that local rice production from October to January is not sufficient, the minister had pointed out that this could lead to a rice shortage and therefore, a safe stock of rice should be maintained to overcome such a situation.