By: Isuru Parakrama
October 15, Colombo (LNW): The Cabinet of Ministers has approved a proposal by President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Economic Development, Policy Compilation, Planning, and Tourism, to secure necessary funds from the Department of National Budget’s development programme.
These funds will be allocated to implement several key financial assistance measures aimed at supporting vulnerable sectors of society.
One of the primary decisions includes an interim monthly allowance of Rs 3,000 for all pensioners. This additional payment is intended to provide relief amidst rising living costs and economic pressures, ensuring pensioners can maintain a basic standard of living.
This move acknowledges the financial difficulties faced by retirees, especially given the country’s broader economic challenges.
In addition, the Cabinet has agreed to increase the fertiliser subsidy for paddy farmers. The subsidy will now cover up to Rs 25,000 per hectare, with a limit set at two hectares per farmer for the upcoming 2024/25 Maha season.
This measure aims to alleviate the financial burden of farmers and promote higher productivity in rice cultivation, a crucial sector in the nation’s agriculture-based economy.
Further, the Cabinet has greenlit financial assistance for owners of fishing vessels. This aid is intended to support those involved in the fishing industry, which plays a vital role in food security and livelihoods for coastal communities.
The provision is expected to help vessel owners meet the challenges posed by fluctuating fuel prices, equipment costs, and other operational expenses, thereby sustaining the local fisheries sector.
