Plantation Development approves Rs. 2,333m

Ramani KANGARAARACHCHI

The Plantation Development Project (PDP) has approved a Rs. 2,333 million worth long term credit facility for 14 Regional Plantation Companies.

These funds will be invested in field and factory development and for mini-hydro power schemes.

Director Plantation Development Project Raja Premadasa said Rs. 1,190 million has been already disbursed and the balance amount from the approved loans will be disbursed during the year.

Another Rs 275.4 million has been invested on worker amenities and Rs 8,86 million on social awareness programmes. Estate workers are no more under the poverty line as they are well looked after and given lot of awareness on social and living standards, Premadasa said.

He said the expectations of the PDP are improving the per hectare productivity of tea, rubber and coconut lands in the corporate sector, to bring it in line with that if other countries, reduction of the cost of production and improving worker productivity, making estate employment attractive to the next generation, minimising out migration of the youth from the estate sector, changing the adverse social stigma towards estate employment by making it more dignified.

The PDP funded by the Asian Development Bank and the Japan Bank for International Cooperation is implemented under the Ministry of Plantation Industries and it supports identified activities in 471 estates managed by the privatised regional plantation companies and Government owned Co-operations and Boards spread out in 14 districts.

The main objectives of the Fund are transformation of the regional plantation companies from producers of primary commodities, to agri business entities, to improve their profitability enhancing the living and working conditions of the estate worker community.