President Anura Kumara Dissanayake today (07) presented in Parliament the proposed new economic relief package for groups affected by the ongoing Middle East crisis.

President Dissanayake addressing the House stated that the fertiliser subsidy for farmers will be increased to Rs. 30,000 per hectare for the Yala season, while the subsidy for other crops will be raised from Rs. 15,000 to Rs. 18,000 per hectare.

The President also announced a temporary revision to the Aswesuma allowance.

Accordingly, the Rs. 17,500 monthly allowance granted to the extremely poor category will be increased to Rs. 25,000, while the Rs. 10,000 allowance granted to the poor category will be raised to Rs. 15,000, and the transition allowance will be increased by Rs. 2,500, the President noted.

Meanwhile, President Dissanayake addressing the House highlighted that several sectors of the country have been adversely impacted by the Middle East conflict, emphasizing that the government has remained vigilant and responsive to these developments.

The President stated that particular attention has been given to the fuel and energy sectors, acknowledging that fluctuations in fuel costs directly affect the daily lives of citizens. He noted that, based on current market values, the retail price of a litre of diesel should exceed Rs. 600.

“On the first of May, or on a date close to it, we will reintroduce fuel cost-reflective pricing. The price will be calculated using actual data from the preceding month. In the next adjustment, we plan to provide a subsidy of up to Rs. 100 per litre of diesel and up to Rs. 20 per litre of petrol,” the President stated.

“Accordingly, we have estimated a monthly expenditure of Rs. 20 billion. This proposal has been prepared for a period of three months, and the subsidy will be directed toward the targeted communities,” he added.

However, the President clarified that due to insufficient data acquisition, the prices of Super Diesel and Super Petrol will be aligned with market rates.

Consequently, the government has decided to bear a cost of Rs. 100 per litre of diesel, resulting in a total projected expenditure of Rs. 60 billion over the three-month period, he added.

President Dissanayake also emphasized providing relief to the fishing community, therefore, the government has decided to provide a subsidy of Rs. 50 per litre of fuel for three months for one-day fishing vessels, covering 25 litres per day for a maximum of 25 days per month.

Additionally, a one-time allowance of Rs. 150,000 will be granted to multi-day fishing vessels engaged in the fishing industry over the next three months.