Prime Minister Ranil Wickremesinghe has announced that the government is hoping to introduce new legislation to govern rice mill owners and silo owners and prevent them from hoarding food stocks.
Prime Minister Wickremesinghe today met with representatives of the commercial banks to discuss the loans requested by rice mill owners.
The Office of the Prime Minister said during the meeting Premier Wickremesinghe was informed by the Minister of Trade, Commerce and Food Security, Nalin Fernando that banks were not disbursing the requested loans sufficiently.
The Trade Minister has also indicated that there were multiple reports of hoarding of rice stocks taking place.
Accordingly, Prime Minister Wickremesinghe has instructed the Central Bank and Treasury officials to monitor the lending policies of banks, while ensuring that loans provided by the Bank of Ceylon were in line with the government’s financial policies.