Cabinet gives approval to import fertiliser worth over $ 20 m

Friday, 21 February 2020 00:10 - - {{hitsCtrl.values.hits}}

Cabinet this week approved the importation of fertiliser worth over $ 20 million to meet local requirements.

The Cabinet of Ministers granted approval for the Cabinet paper submitted by Mahaweli, Agriculture, Irrigation and Rural Development Minister Chamal Rajapaksa for the procurement of fertiliser by Lanka Fertiliser Company Ltd. and Colombo Commercial Fertilizer Company Ltd. in terms of the recommendations of the Standing Procurement Committee appointed by Cabinet.

Accordingly, 47,700 MT of Urea (Granule) have been approved for Agri Fertilivan International Trading Ltd. for a price of $ 268.90 per 1 MT, which totals to about $ 13 million and as much as 15,000 MT of Triple Super Phosphate to Valancy International Trading Ltd. for a price of $ 262.74 per MT at a total cost of $ 3.9 million.

In addition, the Government will import 13,600 MT of Murrieta of Potash to Agri Commodities and Finance for a price of $ 317.25 per MT for a total of $ 4.3 million and 3,060 MT of Urea (Frilled) by the same company for a price of $ 285.00 per MT, which is worth $ 872,000.

Cabinet Minister Bandula Gunawardane reiterated that the Government had intended to repay as much as Rs. 6 billion in outstanding payments for fertiliser imports if the supplementary estimate had been approved by Parliament yesterday.