The Irfaan Ali-led administration has set aside more than $3 billion to provide cash support to rice farmers, as part of broader efforts to assist various sections of the population facing economic pressures.
President Dr. Irfaan Ali consulted with farmers on Thursday at the Arthur Ching Conference Centre at Liliendaal, Georgetown. Following the engagement, the President announced that financial assistance would be provided to help offset rising production costs.
Rice farmers cultivating less than 50 acres will receive $15,000 per acre, while those cultivating more than 50 acres will receive $10,000 per acre. President Ali noted that registration and verification exercises will begin soon to process applications for the support programme.
The decision was made in response to global conflicts, including the war in Iran, which have driven up prices of essential agricultural inputs including fertilisers, transport costs, and fuel.
Vice President Dr. Bharrat Jagdeo, who joined President Ali at the consultation, acknowledged that the spike in production costs cannot be controlled. However, he affirmed that the government is responding to ensure that various groups receive better support during this challenging period.
“We are aware that on top of a low price for rice, you’re now going to be faced with an additional cost,” Jagdeo said, emphasizing the government’s commitment to cushioning the impact on farming communities.
The support initiative reflects the government’s broader strategy to assist vulnerable economic sectors and workers as they navigate inflationary pressures and global economic uncertainties.
