President Anura Kumara Dissanayake today (07) presented a new economic relief package in Parliament aimed at supporting sectors affected by the ongoing Middle East crisis.
Addressing the House, the President announced an increase in the fertiliser subsidy to Rs. 30,000 per hectare for the Yala season, while subsidies for other crops will rise from Rs. 15,000 to Rs. 18,000 per hectare.
He also revealed a temporary revision of the Aswesuma welfare allowance. The monthly payment for the extremely poor category will be increased from Rs. 17,500 to Rs. 25,000, while the allowance for the poor category will rise from Rs. 10,000 to Rs. 15,000. In addition, the transition allowance will be increased by Rs. 2,500.
The President noted that several sectors have been impacted by the Middle East conflict, with particular concern over rising fuel and energy costs affecting daily life.
He stated that, based on current global prices, the cost of a litre of diesel should exceed Rs. 600. However, the government plans to reintroduce cost-reflective fuel pricing around May 1, while providing temporary subsidies.
Accordingly, subsidies of up to Rs. 100 per litre of diesel and Rs. 20 per litre of petrol will be provided over a three-month period, with an estimated monthly cost of Rs. 20 billion. The total projected cost for diesel subsidies alone is Rs. 60 billion.
The President added that Super Diesel and Super Petrol prices will be aligned with market rates due to data limitations.
Relief measures were also announced for the fisheries sector. A subsidy of Rs. 50 per litre of fuel will be provided for one-day fishing vessels, covering up to 25 litres per day for a maximum of 25 days per month over three months.
Additionally, multi-day fishing vessels will receive a one-time allowance of Rs. 150,000 during the same period.
