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Monday, May 27, 2024

Chinese fertiliser company to be paid US$ 6.7 mn on AG’s advice

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The Attorney General has advised settling the trade crisis that arose due to the implementation of the agreement between Colombo Commercial Fertilizer Company and the Ceylon Fertilizer Company regarding the importation of organic fertilizer from China’s Qingdao Seawin Biotech to be settled on trade terms agreeable to both parties, Agriculture Ministry sources said.

Accordingly, the Cabinet of Ministers focused on two Cabinet Memorandums submitted by the Justice Ministry and the Agriculture Ministry on Monday (13) and authorized the relevant authorities to act in accordance with the instructions of the Attorney General.

The Sri Lankan Government has sought the advice of the Attorney General (AG) to pay a Chinese company for a disputed fertilizer stock.

Agriculture Minister Mahindananda Aluthgamage said that the Government has decided to pay US$ 6.7 million to the Chinese company.

The Chinese Fertilizer company has also been requested to take the disputed stock of fertilizer back to China and replace it with a fresh stock that meets Sri Lanka’s requirements.

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