Sri Lanka Approves Fuel Subsidies for Fishing Industry Amid Global Price Hikes
Summary
Sri Lanka has approved fuel subsidies to support the fishing industry amid rising global fuel prices, with small boats receiving per-liter fuel subsidies and multi-day vessels getting subsidies per voyage.
Key Points
- Sri Lankan Cabinet approved fuel subsidies for fishing boats to counter rising global fuel prices.
- Subsidy scheme starts April 20, offering 50 Rupees per liter for small fishing boats.
- Multi-day fishing vessels receive 150,000 Rupees subsidy per voyage under the scheme.
- The subsidy aims to reduce costs, maintain production, and stabilize the fishing industry.
