Govt. provides financial assistance to tea smallholders
Due to the negative impact of the heavy flooding sustained in May on the country’s tea cultivation industry, the Government of Sri Lanka (GoSL) has decided to grant financial assistance to tea smallholders.
President of the Federation of Tea Smallholders, Neville Ratnayaka said that the tea smallholders received a grant of LKR 250,000 for loss caused to the harvest and an additional LKR 250,000 for replanting the crop.
According to Ratnayaka the financial assistance was disbursed to tea small holders in the Galle and Kalutara districts
He also said that the districts of Galle, Matara, Kalutara, Hambantota, Gampaha and Ratnapura were severely devastated by the May flooding which resulted in the destruction of tea smallholders’ crop. He further elaborated that despite the tea industry’s present “stable position” in terms of market performance, the weather unpredictability was a cause for concern.
Sri Lanka’s tea smallholders contribute 70% towards the country’s total tea export market.
OSL TAKE:
The government’s financial assistance is an indicator of the state’s support to restore the country’s tea trade which in turn boosts investor confidence. This means that investing in the Sri Lanka’s tea trade provides entrepreneurs with a measure of secure that somewhat diminishes risk.
| Article Code : | VBS/AT/20092017/Z_12 |