Cabinet decides to sell sugar Rs. 275 per kg within next month

21 November 2023 06:53 am Views - 559

COLOMBO (Daily Mirror) - Trade Minister Nalin Fernando yesterday said that the government will be acquiring the sugar stocks previously imported at a levy of 25 cents per kg and sell them through Lanka Sathosa, supermarkets, and Cooperative outlets at a price of Rs. 275 per kilogramme within a month.

He mentioned that the Cabinet has resolved to have the government acquire the sugar stocks imported under the 25-cent import tax. The plan is to sell these stocks through Lanka Sathosa and other supermarkets at a regulated price.

Addressing a media conference in Colombo, he said the government will take over the identified sugar stocks. 

These sugar stocks will be allocated to Lanka Sathosa, other supermarkets, and selected Cooperatives for sale at the regulated price of Rs. 275 per kilogram over a period of one month.

He added they anticipate that this measure will address the current sugar shortage in the market. The aim is to ensure adequate supply of sugar to the market.

The Minister further explained that once the government takes over the stocks of sugar already imported at the 25-cents levy, the controlled price on sugar will be lifted. This adjustment is deemed unnecessary as subsequent sugar imports will fall under the special commodity levy of Rs. 50.