INSUBCONTINENT EXCLUSIVE:
President Ranil Wickremesinghe says reducing bank interest rates in relation to the gradual decline in inflation is currently under
fund facility (EFF) program by March.His remarks came during a meeting at the Presidential Secretariat on Thursday evening (Feb 16) to
mill owners raised concerns about the soaring fuel prices, electricity tariffs, equipment maintenance costs, transportation charges and
other costs pertaining to production and administration work that have led to an increase in the production cost of 1 kilogram of
paddy.Further, the mill owners drew the attention of President Wickremesinghe to the challenges they are facing by having to pay an interest
of 28% for the bank loans they have obtained.
