Tag: control price

Cabinet gives green light to import rice

13Dec

By Faraz ShauketalyNo Comments

Business

Cabinet gives green light to import rice

The Cabinet has decided to import more than 200,000 metric tons of rice to stabilise the price of rice during the festive season. The Secretary to the Industry and Commerce Ministry, K.D.N. Ranjith Ashoka, said the imported rice stocks would be issued through Lanka Sathosa and Co-operative societies. However, retail prices of rice are still high. The Secretary further stated that a controlled price will have to be imposed if the situation persists.

CAA takes legal action against 119 coconut traders

13Dec

By Faraz ShauketalyNo Comments

Business

CAA takes legal action against 119 coconut traders

The Consumer Affairs Authority states, legal action has been taken against 119 traders who sold coconuts for more than Rs. 75. Chairman of the Authority, Hasitha Thilakaratne, said raids are being carried out across the country in search of vendors who sell coconuts at rates higher than the control price. Traders from Colombo and suburbs are among the majority to be charged for the offence. Information about merchants who sell coconuts above the stipulated price, can be conveyed via the hotline 1977. Recently, the committee meeting decided to remove the restrictions imposed on the importation of coconuts due to the rapid increase in its price. According to President’s advice, industrialists will be able to import coconut without any constraints.