- Govt. to release Rs. 100 m in loans as capital, total of 25,000 acres to bedistributed
The Government has finalised plans to acquire 25,000 acres of unused estate land and distribute it among the youth for productive agricultural purposes under the 2013 Budget proposal.
A statement released by the Economic Development Ministry noted that the steps would be taken under the Divi Neguma program and would largely focus on unemployed youth.
“A decision to distribute two acre blocks of land each in plantations among 12,500 unemployed youth was been taken at a top level meeting on last week held at the Finance Ministry with the participation of Economic Development Minister Basil Rajapaksa and Plantation Industries Minister Mahinda Samarasinghe,” the statement added.
The Government has agreed to release Rs. 100 million to be given as loans for selected youth to develop the land along with plants and fertiliser, and the land will be distributed to them on a 30-year lease, Treasury officials said.
The identified land will be re-allocated to achieve impact improved production and higher productivity levels in the plantations industry in the long term, a senior Finance Ministry official disclosed.
Finance Ministry Secretary Dr. P.B. Jayasundera and several senior Government officials participated at the occasion.