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Sri Lanka cuts cooking gas price, promises cheaper rice

ECONOMYNEXT – Sri Lanka is cutting the price of a 12.5 kilogram gas cylinder by 100 rupees, and rice was also promised at a lower price, the state information office said.

A cylinder gas by state-run Litro retailed at 1,596 rupees Saturday morning.

The information office, in a text message also quoted Finance Minister Ravi Karunanayake as saying that the price of rice will also be brought down to 60 rupees a kilo.

Sri Lanka’s rice prices are higher than several Asian nations because a farming lobby backed by a section of the elected ruling class has put up import duties not only of rice but some close substitutes, helping increase malnutrition among poorer children.

 

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