In a statement made at an event in Sooriyawewa, Minister Amaraweera revealed that he has discussed the possibility of lifting the Value-Added Tax (VAT) on chemical fertilizers with President Ranil Wickremesinghe. As the Finance Minister, President Wickremesinghe has expressed a positive response to the proposal. The minister is optimistic that this move will enable the provision of fertilizers to farmers at current rates during the upcoming ‘Yala’ season.
Minister Amaraweera emphasized that imposing VAT on Urea, Muriate of Potash (MOP), and Triple Superphosphate (TSP), which are currently available in the local market, is unnecessary. He highlighted that the chemical fertilizers required for the ongoing Maha Season have already been imported at pre-VAT hike rates, negating the need for a price increase.
