Sri Lanka unveils $320m subsidy to offset energy costs

COLOMBO, Apr 7: Sri Lanka announced on Tuesday a record $320 million relief package for farmers, fishermen and low income households hit hardest by soaring energy costs due to the Middle East war.

President Anura Kumara Dissanayake said the package, the biggest state handout ever, would help the most vulnerable in the island nation of 22 million.

Cash grants would be paid directly into the accounts of thousands of fishermen and rice and tea farmers, he said.

Those living below the poverty line -- about 25 percent of the population -- would get an additional $25 this month to celebrate the traditional Sinhala and Tamil New Year festivals, and also have their electricity bills subsidised.

"The total relief package is valued at 100 billion rupees ($320 million) over three months," Dissanayake said. "We are funding this through the existing budget."    �"AFP