The Paddy Marketing Board (PMB) incurred a massive loss of Rs 7000 million from 2009 to 2014, PMB Chairman Upali Mohotti revealed.
According to the Chairman, the PMB has continued as a loss-making government institution over the years. He says the incurred loss was a result of exporting rice to Somalia for free and selling metric tons of paddy to the private sector for the production of animal food during that time. The Chairman made these comments at a progress review meeting regarding the future activities of the PMB.
At the meeting, Minister of Agriculture Mahinda Amaraweera said that the PMB expects to create a competitive position in the market so that the farmers will be able to sell their paddy at a stable price in the future.
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