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FM to issue import licenses on wheat flour soon: Siyambalapitiya
Amidst concerns about duopoly in wheat flour imports in Sri Lanka, State Minister of Finance Ranjith Siyambalapitiya said the Finance Ministry is having discussions about issuing licenses for wheat flour imports soon.
The Minister told the Daily Mirror that the Ministry was studying the wheat flour prices at the world market, rice prices and food security at the moment.
He said the Ministry is yet to reach a final decision regarding the issuance of import licenses adding that the import ban was made as a temporary measure.
Wheat flour importers raised concerns that their request for import licenses to import wheat flour has not been granted as yet, which could lead to wheat flour shortage or price increase in the future.
The two major local wheat flour suppliers were accused of reaping undue profits in billions of rupees following a government-imposed ban on unlicensed wheat flour imports.
The Committee of Public Finance recently instructed the officials of the Ministry of Finance to announce the selling price of a kilogram of wheat flour as Rs.198 so to avoid two major companies making additional profit and to protect the consumer.
Trade Minister Nalin Fernando told Parliament that the two companies that import wheat flour to Sri Lanka refused to reduce the prices of flour despite a request to do so.
He said the Finance Ministry banned the import of flour and introduced a license system and issuing the license should be done by the Finance Ministry.(Ajith Siriwardana)
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