News
Chemicals needed for organic fertiliser not banned, says Treasury Secretary
By Ifham Nizam
The government had not said that it would stop import of chemical fertiliser for industrial requirements and such imports would be allowed under licensed items, said Finance Ministry Secretary S.R. Attygalle, yesterday.
Fielding questions at the weekly briefing at the President’s Media Centre in Colombo, Attygalle said approval had been granted for importing liquid Nitrogen under import control licences, as it was needed for the production of organic fertiliser.
In response to a query over The Island story headlined “Abolition of range of taxes in Nov. 2019 triggered crisis” published in our August 2 edition, he said he would respond. However, due to time constraints he couldn’t do so.
Agriculture Ministry Secretary, Prof. Udith K. Jayasinghe-Mudalige, speaking on the sidelines of the event, told that The Island President Gotabaya Rajapaksa had taken the right decision on fertilisers.
The former Vice-Chancellor of the Wayamba University, Senior Professor and the Chair of Dept. of Agribusiness Management, Faculty of Agriculture and Plantation Management added: “We are working with all stakeholders would help us achieve the set targets.”
Chief Advisor to President, Lalith Weeratunga quoted`President Rajapaksa as saying that the decision to start using organic fertiliser had been taken for the sake of the people and future generations.
The “Vistas of Prosperity and Splendour” policy framework promised a changeover to organic fertiliser, he said.
It was the responsibility of the government to act in accordance with the pledges made to the people. Previous governments tried to popularise the use of organic fertilisers but had not been able to sustain the practice. “This is a challenging task, but it should be done on behalf of the country after identifying the correct strategy,” Weeratunga said.
Earlier this week, Finance Minister Basil Rajapaksa issued a gazette notification re-authorising the import of several types of chemical fertilisers including urea for cultivation in the forthcoming Maha season.
Licensees will be permitted to import mineral or nitrogenous mixtures including urea, ammonium nitrate with calcium carbonate or other inorganic substances, super phosphates and mineral or chemical fertilisers containing two or all three elements nitrogen, potassium and phosphorus.
The Cabinet approved the proposal made by the Minister of Agriculture on the 31st of May 2021, to import the plant nutrients which include natural chelated minerals and micro matter.
As the above natural chelated minerals and micro matter were already being imported under the HS Code, but currently prohibited by the Gazette Notification No. 2226/48, and in order to grant Cabinet approval to the aforesaid Cabinet paper submitted by the Minister of Agriculture, the Gazette Notification No. 2226/48 was amended.
The above licences also permit the import of packets of compound fertilisers containing the three plant nutrients, namely mineral or chemical nitrogen, phosphorus and potassium, or capsules containing a mixture of two of them or packets weighing 10kg or less containing such products.
All these fertilisers are allowed to be imported only by the relevant agencies as per the requirements or under special licenses issued only for limited quantities to suit those requirements.
In addition, nitrogen extracts (organic) and mineral potassium can be imported, which are not classified as chemical fertilisers.
“The government must ensure the right of the people to a non-toxic diet to produce a healthy and productive citizenry”, the Agriculture Ministry Secretary said.
News
Amendment of the Inland Revenue Act No. 24 of 2017
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
News
Cabinet nod for “National Mineral Policy” – 2026
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
Latest News
Twelve sentenced to death by Gampaha High Court
The Gampaha High Court has sentenced Twelve (12) individuals to death over the 2022 murder of former Polonnaruwa District Member of Parliament Amarakeerthi Athukorala and his security officer.
-
Features4 days agoMy experience in turning around the Merchant Bank of Sri Lanka (MBSL) – Episode 3
-
Business5 days agoZone24x7 enters 2026 with strong momentum, reinforcing its role as an enterprise AI and automation partner
-
Business4 days agoRemotely conducted Business Forum in Paris attracts reputed French companies
-
Business4 days agoFour runs, a thousand dreams: How a small-town school bowled its way into the record books
-
Business4 days agoComBank and Hayleys Mobility redefine sustainable mobility with flexible leasing solutions
-
Business18 hours agoAutodoc 360 relocates to reinforce commitment to premium auto care
-
Business5 days agoHNB recognized among Top 10 Best Employers of 2025 at the EFC National Best Employer Awards
-
Editorial7 days agoAll’s not well that ends well?
