Annual Report 2010 - Ministry of Finance and Planning

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Ministry of Finance and Planning Sri Lanka > Annual Report 2010• Financial and technical supportwere provided to the LankaMicrofinance Practitioner’sAssociation (LMFPA) to carryout profiling and data collectionof its member Institutions andsupported the publication of thesame• Sinhala and Tamil translationsof the Microfinance Handbook,an internationally recognizedpublication on microfinance,completed and published• Island-wide impact study ofProMiS Phase I was completedSpecial Activities to beImplemented During Year 2011• As a request made by theGovernment, GIZ has agreedto revise the scope andinclude a component on SMEDevelopment for Phase II of theproject• Provision of micro credit facilitiesto 1,000 resettled families inJaffna through the cooperativesocieties in consultation with theDivisional SecretariesAgriculture SectorFinancing“Mahinda Chintana Vision for theFuture”, Government’s policyframework aims to achieve multiplegoals in agriculture sector such asachieving food security, ensuringhigher and sustainable income tofarmers, fair and remunerative pricefor agriculture products, expandingthe area under cultivation, using highyield seeds, reducing post harvestlosses and introducing efficient farmmanagement. Agriculture sectorfinancing has been vital in achievingthese set goals.The areas facilitated underagriculture sector financing coverfertilizer subsidy programmes,purchasing programmes andfinancial assistance schemes.Fertilizer SubsidyProgrammesPaddySri Lanka has a widespread agriculturalbase with a contribution of 12 percentto GDP. Paddy plays a vital role inthe economy since rice is the staplefood of the country. In 2010, an extentof 1.06 million Ha was under paddycultivation producing 4,300,620 Mtwhich is an increase of 17.8 percentcompared to 2009.The consumption of rice has beenincreased during the last decade whichimplies that the country depends moreon locally produced rice rather thanimported food items particularly wheatflour.Fertilizer is the key input in paddycultivation thus the fertilizer subsidyhas made a greater impact on yieldsof farmers. Around one millionfarmers who are involved in the paddycultivation benefit from the fertilizersubsidy scheme. Compared to themarket price, the subsidy grantedby the Government for 50kg bag ofRs.Chart 6.6 > Fertilizer Subsidy on Paddy - 2010For 50 Kg. BagChart 6.7 > Paddy Production 2000-201040003000Market Price= 2,595Market Price= 2,880Market Price= 3,3455000400020002,2452,5302,995000 Mt.30002000100010000350350350Urea TSP MOP020002001200220032004200520062007200820092010Subsidy incurred by the GovernmentPrice Paid by Farmer297
6 | DEVELOPMENT FINANCEfertilizer is more than 80 percentof the market price (Table 6.7).The Government expenditureon fertilizer subsidy of paddyamounts to Rs. 23,050 million,and the per capita subsidy fora farmer engaged in paddycultivation is approximatelyRs. 21,414 in 2010.Table 6.6 > Annual Total Consumption of Rice and Wheat Flour2002 - 2009/10 (Mt)Year Rice Wheat Flour2002 1,936,320 183,6012005 2,051,541 179,8602006/07 2,143,257 139,1512009/10 2,223,815 168,590Source: Estimated from Household Income and Expenditure Surveys, Department of Censusand StatisticsTable 6.7 > Comparison of Subsidized Price and Market Price of Fertilizer 2009 Yala – 2010/11 MahaSeasonFertilizer VarietyAverageMarket Price/50kg bag(Rs.)Subsidizedprice of 50kgbag (Rs.)Subsidy for 50kgbag (Rs.)Subsidy as a% of MarketPriceUrea 5,350 350 5,000 932009 Yala2009/10 MahaTSP 7,709 350 7,359 95MOP 6,612 350 6,262 95Urea 2,225 350 1,875 84TSP 1,901 350 1,551 82MOP 4,458 350 4,108 92Urea 2,708 350 2,358 872010 Yala2010/11 MahaTSP 2,969 350 2,619 88MOP 3,392 350 3,042 90Urea 2,481 350 2,131 86TSP 2,790 350 2,440 87MOP 3,298 350 2,948 89Source: National Fertilizer Secretariat298
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Ministry ofFinance and Planning(as
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Heads ofDepartments under thePurvie
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ContentsChapter 1 Development Persp
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Chapter 5 Foreign Financing 243Over
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Ministry of Finance and Planning Sr
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SRI LANKA AT A GLANCE - 2005 & 2010
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BRIEFINGSBriefings“Much remains t
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1 | DEVELOPMENT PERSPECTIVESEconomi
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03REFORM INITIATIVES173
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Annual Report 2010 - Ministry of Finance and Planning

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