No room for shortages, unfair price hikes | Daily News
Removal of price controls

No room for shortages, unfair price hikes

President orders close check on prices

President Gotabaya Rajapaksa has instructed Trade Minister Dr. Bandula Gunawardena and State Minister of Cooperatives, Marketing Development and Consumer Protection Lasantha Alagiyawanna not to allow any shortages or unreasonable increases in market prices of essential commodities whose price controls have been removed. Accordingly, all relevant companies have been summoned and informed that if the relevant companies abuse the freedom granted by them, that prices will have to be controlled again by the Consumer Affairs Authority (CAA).

Further, they have to increase the production of goods as soon as possible and to make the goods available in the market. It was also informed that if there will be any reduction in the prices in the world market in the future, the prices of goods should be reduced in comparison to that.

Although the world market price of these products has risen sharply over the past six months, the Government will take all possible actions not to pass on that burden to the consumer, especially by reducing the taxes to keep the prices at the previous level.

The Government emphasized that the sharp rise in world commodity prices forced the removal of control prices on four essential commodities: milk powder, wheat flour, LP Gas and cement.

The Government says it has removed the controlled prices to avoid any shortage of essential commodities in the Sri Lankan market. Meanwhile, it has been decided to increase the price of a kilogram of milk powder by Rs. 350 and a 400 gram packet of milk powder by Rs. 140, said Lakshman Weerasuriya, a member of the Milk Powder Importers Association.

Accordingly, a kilogram of imported milk powder will be sold at a maximum price of Rs. 1,300 and a 400 gram packet of milk powder will be sold at a maximum price of Rs. 520, he said. He said that steps will be taken to inform the Consumer Affairs Authority (CAA) in this regard.

He was speaking to the media yesterday (08) regarding the removal of the milk powder controlled price.

The Milk Powder Importers’ Association has announced the new prices to be sold for imported milk powder with the removal of the control price.The CAA is yet to give its consent to the Milk Powder Importers Association decision to increase the prices as described above.

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