• Rs. 10,000 monthly spending threshold announced

The Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, announced that steps would be taken to provide free life insurance coverage to consumers who spend over Rs. 10,000 within a month at cooperative sales outlets.

Speaking to the media following a programme held in Anuradhapura, the Minister said the coverage would have a value of over Rs. 300,000. He further said that all members of cooperatives would also be eligible for life insurance coverage.

Minister Samarasinghe added that cooperative employees would receive satisfactory salaries and benefits, including life insurance, as part of efforts to strengthen cooperative businesses as a vital component of the national economy.

He also highlighted that the cooperative sector would be developed through a large-scale reform programme under the current Government’s initiatives.

“Facilities will be provided to establish a Co-op City (cooperative sales outlet) in every region, while low-interest loans will be offered to operate large-scale cooperative outlets in urban areas,” he added.