PMB suffers a loss of Rs 7000 million over the years
June 25, 2018 05:39 pm
The Paddy Marketing Board (PMB) has incurred a loss of Rs 7000 million from 2009 to 2014, states the PMB Chairman Upali Mohotti.
He mentioned that the PMB has continued as a loss-making government institution over the years.
The incurred loss had been 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, within the said span of years, according to the Chairman.
He made these comments at a progress review meeting regarding the future activities of the PMB.
Joining the event, the 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 steady price.
