Introduce price formula to regulate wheat flour price: CoPF

The Committee on Public Finance (CoPF) has stressed the need to introduce a price formula to regulate the price of wheat flour, the Communications Department of Parliament said.

This was discussed when the Committee on Public Finance met recently under the Chairmanship of Dr. Harsha de Silva.
 
The Committee emphasized that a price formula should be prepared immediately in order to work in a more diversified manner.

The Chair instructed the Auditor General's Department to calculate the amount of wheat flour currently available in Sri Lanka's warehouses and submit an audit report regarding the issue pertaining to wheat flour within 2 months. 

The Parliamentarian was of the view that if there is a price formula for wheat flour as well, there will be no opportunity to decide the prices according to the wishes of individual parties.

He pointed out that wheat flour is being sold at different prices in shops all over Sri Lanka. However, according to the prices given by the Ministry of Finance, one kilo of wheat flour can be sold at Rs. 198. The Chair emphasized that two price calculations are being used in setting the price for wheat flour and this should be changed.

Although the price has increased due to the increase in the tax imposed on wheat flour, the Chair told the officials that the increased tax has increased the price of the wheat flour that was already in the warehouses in the country.(Ajith Siriwardana and Yohan Perera)