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Cement prices upped

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The price of a 50-kg bag of cement has been increased by Rs. 150 – Rs 350, cement manufacturers have said.

Accordingly, a bag of cement is priced between Rs. 2,300 – Rs. 2400, reports say.

The price increase comes after the imposition of the 18% value-added tax (VAT) on January 01.

Meanwhile, the ‘Daily Mirror’ reports citing National Construction Workers Union (NCWU) secretary Supun Abeysekara as saying that although only a 03% VAT should be imposed on cement, companies have imposed more than that.

Abeysekara has further said that prices of other construction materials will also be increased according to the VAT.

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No justification for coconut oil price hike – Coconut Development Authority

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The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

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Coconut oil price upped

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The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200. 

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

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Registration compulsory for all money changers 

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The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it. 

The CB order is in effect from 3 June 2024. 

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner. 

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