Lanka Sathosa reduces prices of nearly 400 items for festive season

By Ajith Siriwardana  

Lanka Sathosa has taken measures to reduce the prices of nearly 400 items including essential food items with the aim of providing relief to the consumers during the coming festive season, Trade, Commerce and Food Security Minister Nalin Fernando said.  

The Minister mentioned this at the Ministerial Consultative Committee on Trade, Commerce and Food Security which met in Parliament recently. 

He mentioned that measures have been taken to import a stock of rice similar to Keeri Samba rice, ensuring an adequate supply of rice for the upcoming festive season.
He also said the Ministry has taken measures to alleviate the artificial shortage created by the main and large-scale paddy mill owners by hiding the stocks without releasing them to the market.  

The Minister stated that reports indicate a shortage of sugar in the  local market. This scarcity is attributed to the concealment of sugar  stocks following the establishment of a maximum retail price for sugar.  Importers have consequently suspended sugar imports due to the  challenging situation where distributing sugar in the market has become  impractical.
He said, therefore, measures have been taken to remove the maximum retail price imposed on sugar to prevent any risk of having a shortage of sugar stocks. 

• Ministry has taken measures to alleviate the artificial shortage created by the main and large-scale paddy mill owners by hiding the stocks without releasing them to the market