Laws to prevent hoarding of rice stocks


The Government will introduce legislation that will regulate rice mill owners and silo owners to prevent hoarding of rice stocks, Prime Minister Ranil Wickremesinghe said.

Wickremesinghe made this remark when he met representatives of commercial banks to discuss loans requested by rice mill owners, yesterday (15). Minister of Trade, Commerce and Food Security, Nalin Fernando informed the Premier that while Banks were not dispersing the requested loans sufficiently, rice stocks were also being hoarded. The Prime Minister instructed the Central Bank and Treasury officials to monitor the banks’ lending policies, while ensuring that Bank of Ceylon provide loans in line with the Government’s financial policies.