Srilanka to seek India’s help to develop sugar industry

Colombo: Sri Lanka, is known as one of the leading countries in agriculture in Asia, but due to the poor economic condition of the sugar mills here in the last few years, the sugar mills are facing a financial crisis. In order to keep sugar mills operational, financial support is needed.

On the issue of the economic problem of mills, Sri Lankan Parliament Speaker Karu Jayasuriya while talking to the media at his government residence said that the financial condition of sugar mills in our country is getting weaker. Mills have to cut their expenses to pay salaries to the workers. And also sugarcane arrears remains one of the big issues.

Jayasuriya said that due to less sugarcane cultivation, mills are facing cane scarcity. Due to which they are suffering financial losses. Often the issue of sugarcane arrears by the sugar mills is being raised in Parliament by the MPs. The government is giving loans at a cheaper rate to the mills, but this is not a permanent solution to the problem.

He said, “A delegation from Sri Lanka will be visiting India after General election in March and meet the experts in sugar sectors and the sugar mills that are running in profit.”

“Along with sugar production, we are planning to start production of ethanol and other by-products that will help sugar sector to recover and become self-sustainable,” Jayasuriya further added.

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