Cabinet nod to import 300,000 MTs of rice

Saturday, 17 December 2016 00:00 - - {{hitsCtrl.values.hits}}

Finance Minister Ravi Karunanayake yesterday said Cabinet has approved importation of 300,000MTs of rice as buffer stock.

“People are trying to create an artificial shortage. Cabinet has approved importation of one and half months rice consumption as a buffer stock. The stocks will be kept at bonded warehouses and will be brought in as a duty free,” the Minister told journalists in Colombo at a special press briefing held at his Ministry yesterday.

Karunanayake said the buffer stock would help to alleviate any black market situation.

According to the Minister, Sri Lanka requires 200,000 MTs of rice per month for consumption.

“Right now we will release all the local stocks we have to the market. Yala seasonal crops will start to come into the markets by March hence, we will have enough stock,” he added.

However, the Minister said that the Government does not want to involve in the rice importation and it will be done by the private sector. “We have no intention to call tenders for this because that’s where the corruption takes place.”

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.