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No regulatory system to control vegetable seed prices in SL – COPA

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The Committee on Public Accounts (COPA) has disclosed that there is no proper regulatory system to control the price of vegetable seeds in this country.

This was disclosed when the Committee on Public Accounts met in Parliament yesterday (08) under the chairmanship of MP Kabir Hashim. A discussion was held on the performance of the process of producing vegetable seeds locally and several parties including the Ministry of Agriculture were therefore present.

It was also discussed that although the “State Policy on Seed and Planting Material Industry” was prepared in 1997, it was not published in the Gazette as at January 01st, 2021. Furthermore, regarding the Seed Act No. 22 of 2003, there was a discussion at length and attention was drawn to the fact that the necessary amendments had not been made. Thus, it was disclosed that there are several institutions in the private sector that are allowed to import seeds and that this Act does not include a system to control the price of seeds imported by those institutions.

Thus, the members of the committee who were present pointed out that this is a very serious situation. The Members of Parliament pointed out that the domestic vegetable farmer is in a lot of trouble as a result and that this is a mafia. Therefore, they pointed out that a system should be prepared to control this situation and that a system should be created to enable the domestic vegetable farmer to buy vegetable seeds at an affordable price.

COPA Committee also pointed out that the percentage of providing locally produced vegetable seeds to the domestic vegetable farmer is not satisfactory. In response, the officials present mentioned that government departments including the Department of Agriculture are working to produce more of the required local vegetable seeds and provide them at a subsidized price, but even so, it is not possible to produce certain seeds under certain climatic conditions and therefore such seeds are being imported. Therefore, few private institutions have been allowed to import such seeds.

Also, the officials pointed out that even hybrid seeds that are difficult to produce are being produced using technology. The officials also pointed out that it takes about 10 years to carry out the research needed to produce certain seeds.

Thus, Chairman of the COPA Committee – Kabir Hashim instructed to finally provide a report on obstacles to seed production, a report on obstacles to recruitment, a report containing 3 years of information on the percentage of locally produced seeds and the percentage of imported seeds as per seed demand as well as a report on how seed prices can be controlled through the regulation of the relevant Act and Policy within two weeks.

State Minister Lasantha Alagiyawanna, Mohan Priyadarshana De Silva, Diana Gamage and Members of Parliament -Tissa Attanayake, Niroshan Perera, Ashok Abeysinghe, Buddhika Pathirana, (Dr.) Sudarshini Fernandopulle, J. C. Alawathuwala, Hector Appuhamy, (Dr.) Major Pradeep Undugoda and Wasantha Yapabandara were present at this Committee meeting held.

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IMF Executive Board approves Sri Lanka’s fourth review

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The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw about US$350 million, said Evan Papageorgiou, IMF Mission Chief for Sri Lanka.

This brings the total IMF financial support disbursed so far to about US$1.74 billion.

“The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The program supports Sri Lanka’s efforts to durably restore macroeconomic stability by (i) restoring fiscal and debt sustainability while protecting the vulnerable, (ii) safeguarding price and financial sector stability, (iii) rebuilding external buffers, (iv) strengthening governance and reducing corruption vulnerabilities, and (v) enhancing growth-oriented structural reforms.”

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Cabinet approval for online traffic fine payment system – Bimal

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Minister of Transport and Highways Bimal Rathnayake has said that Cabinet approval has been granted to implement an islandwide online traffic fine payment system.

He made this statement during a media briefing near the Kottawa Expressway entrance, following a public awareness programme on mandatory seat belt use for vehicles travelling on expressways.

“The Cabinet approved the proposal today. At present, the online fine payment system is available only between Kurunegala and Anuradhapura. Now, we’re providing all police units with mobile devices, so that from this year, traffic fines can be paid from anywhere via mobile phones… Rather than paying fines, we urge everyone to drive carefully, wear seat belts, and avoid violations. Our core message is simple, travel safely,” the minister has said.

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Indian entrepreneur delegation meets President AKD (Pics)

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Indian entrepreneurs state that they are currently directing their attention towards new investment prospects in Sri Lanka, particularly in sectors like energy, infrastructure, the digital economy, tourism and agriculture, as well as on enhancing entrepreneurial capacity.  

A delegation of around 20 Indian entrepreneurs, comprising heads of several prominent Indian companies, is currently engaged in an active programme in Sri Lanka, coordinated by the Confederation of Indian Industry (CII), with the aim of further developing existing investment opportunities and exploring new prospects. These comments were expressed during the delegation’s meeting with President Anura Kumara Disanayake this afternoon (01) at the Presidential Secretariat.

The delegation is visiting Sri Lanka following an invitation extended by President Anura Kumara Disanayake during his recent official visit to India. The Indian delegation held discussions with several Sri Lankan Ministers and with officials from key government institutions, including the Board of Investment of Sri Lanka.

President Disanayake emphasized that the country has now established a more favourable environment for investors, owing to the current economic stability.

The President briefed the Indian business representatives on the constructive measures implemented by the government to create a supportive economic climate and conditions conducive to investment. He further noted that the government has strengthened the legal framework and institutional system necessary to attract and sustain large-scale investments. He assured that under the present administration efforts have been made to eliminate the losses and corruption previously associated with investments. 

The President also emphasised that special attention has been given to attracting regional investors and providing them with the necessary facilities. He pointed out that numerous new business opportunities have opened up between India and Sri Lanka across various sectors.

The Indian entrepreneurs stated that Sri Lanka’s strategic location is of great appeal to investors. They appreciated the President’s explanation regarding the current situation of the country, noting that it had inspired confidence and renewed hope in them.

Minister of Labour and Deputy Minister of Economic Development Professor Anil Jayantha Fernando, Senior Additional Secretary to the President, Roshan Gamage, and Indian High Commissioner to Sri Lanka Santosh Jha, along with officials from the Indian High Commission, were present at the occasion. Also in attendance were former Chairman of CII and Chairman and Managing Director of ITC Limited, Sanjiv Puri, and heads of several other major Indian companies.

(President’s Media Division)

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