The Cabinet of Ministers has approved the sale of paddy stocks currently held by the Paddy Marketing Board (PMB).
The approval was granted following a proposal submitted by the Minister of Agriculture, Livestock, Lands and Irrigation.
According to the Department of Government Information, the PMB currently holds nearly 115,000 metric tons of paddy purchased from farmers and stored in warehouses islandwide.
The government said the decision was taken to free up storage capacity and raise funds ahead of the upcoming Yala season, during which fresh paddy purchases from farmers are expected.
The paddy stocks will be sold through a formal tender process following Cabinet approval. (Newswire)