The Hon. Kins Nelson
Hon. Kins Nelson raised concerns that small and medium rice millers, particularly in areas such as Polonnaruwa, have been unable to access bank credit after defaults linked to the Easter attacks, COVID-19, and the economic crisis, leading to CRIB listings and asset auctions under the parate law from 30 June 2025. He argued that lack of timely pre-harvest credit to these millers, while larger millers received facilities, is a key factor in rising rice prices. He asked whether the Ministry will ensure banks provide credit to small and medium millers before the Maha harvest, in line with the President’s stated commitment.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 My first supplementary: Many SM rice millers and other businesses mortgaged assets and borrowed over Rs. 5 million. The 2019 Easter attacks, the 2020–2021 COVID pandemic and the 2022 economic crisis severely affected them; many defaulted and were listed in CRIB. Banks then refused further loans. The primary reason for rising rice prices is failure to provide timely credit to SM millers. Banks extended facilities before harvest only to a few with clean CRIB, mainly large millers; small and medium did not receive credit pre-harvest. The President promised a solution, but instructions have not reached banks. With parate law effective from 30 June 2025, assets are being auctioned. In Polonnaruwa, over 600 SM mills existed; now none. Will the Ministry ensure banks extend this credit to SM millers before the Maha harvest?
Provenance
- Source
- Hansard, Saturday, 15 November 2025 ·No. 22870 ·English daily/uncorrected Hansard
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/lk/speeches/28982
Cite as: The Hon. Kins Nelson. 10th Parliament, Parliament of Sri Lanka. Hansard, 15 November 2025. No. 22870. Politick, https://staging.politick.io/lk/speeches/28982