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Sri Lanka slams price controls on sugar at Rs90

ECONOMYNEXT – Sri Lanka has slammed a price control on sugar at 90 rupees a kilogram for packeted sugar and 85 rupees when sold loose.

The Consumer Affairs Authority, the price control agency has decreed an importers maximum wholesale price for 80 rupees a kilogram, in a gazette notice signed by Major General Shantha Dissanayake, its chairman.

Sugar prices were higher due to high taxes imposed by the state.

Taxes were then cut and prices decreed.

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Sri Lanka sets price control on rice at Rs90 a kilogram

The price control agency contributes to regime uncertainty and is part of the framework of policy uncertainty that is dogging the country critics have said. (Colombo/Nov11/2020)

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