Business

Sathosa incurs loss from subsidised rice sales

  • Bandula says Rs. 67 m loss made

Lanka Sathosa had to bear the loss of Rs. 67 million from rice last month due to the sale of rice at a lower price, stated Minister of Trade Dr. Bandula Gunawardana.

He made this remark during the “Big Focus” live programme on Ada Derana 24 yesterday (4).

Further, the Minister expressed that President Gotabaya Rajapaksa strictly opposed the decision on importing rice in order to control the price of rice and cabinet approval for rice importation was granted when the President was not in the Cabinet.

“The President stood with that policy of not importing rice. This is a decision taken by the President on the part of the farmer. He (President) says the money goes to the farmers of our country. The money does not go to a farmer in another country. So let’s try to maintain this price. The President had stated that not even a cabinet paper should be brought allowing the rice importation. I do not blame him for his decision. He made this decision on behalf of the farmers of the country,” noted the Trade Minister.