Sri Lanka to give million 'cut price' essential food hampers for festival
Apr 06, 2017 17:38 PM GMT+0530 | 1 Comment(s)
ECONOMYNEXT - Sri Lanka will provide a million 'essentials' food hamper with a market price of 1,515 rupees at 975 rupees through a state retail network on the instructions of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.
The hamper will have 1kg of Dhal (lentils) worth 160 rupees, 500g of potato (Rs70), 500kg of dried sprats (Rs200), 1kg of sugar (Rs105), 425g canned fish (Rs125), 200g chillie pieces (Rs175), 500g green gram (Rs100) and 400g Milk Powder (Rs310).
Sri Lanka's Hindu and Tamil New Year is coming up next week.
The government intends to reduce costs by providing the hamper, a government statement said.
The Sri Lankan rupee fell from 131 to the US dollars to around 154 during the tenor of the current administration when it printed money to keep interest rates down after it borrowed large volumes of money to give subsidies and a state salary hike in 2015.
Sri Lanka's inflation rose to 7.3 percent in March 2017, making the Central Bank of Sri Lanka one of the worst-performing monetary authorities in Asia. (Colombo/Apr07/2017)