People's Bank grants Rs 1.5 B to PMB

People's Bank has approved a loan of Rs 1.5 billion to the Paddy Marketing Board to purchase the Yala paddy harvest. This would help to provide the farmers with a more equitable and satisfactory and stable price for their produce, People's Bank CEO and General Manager G V Pathirana said.


Relief measures provided to the farmers by the Government include the provision of Rs 50,000 loan at eight percent interest to store paddy, provision of Rs 150,000 loan facilities to collectors of paddy and other additional crops under the vee bissa loan scheme and loan schemes to buy agro equipment and rehabilitation of paddy mills destroyed during the war. (Daily News)