Govt. takes over sugar stocks imported before tax hike



A cabinet decision has been taken allowing the government to take over all sugar stocks imported under a special commodity levy of 25 cents per kilogramme and sell them within a month at a Maximum Retail Price of Rs. 275.

The decision had been announced today (20) by Minister of Trade – Nalin Fernando.

Speaking, the Minister had said that these sugar stocks would be sold at Sathosa outlets, supermarkets and selected Cooperative outlets.

He had said that the objective of this is to eliminate a sugar shortage and release stocks to the local market.

Noting that the Consumer Affairs Authority are currently counting out the relevant stocks, the minister added that measures will be taken to obtain stocks from importers and wholesalers from today onwards.

With these measures in place, stocks imported under the increased special commodity levy can be sold afterwards at a new price, the minister had further said.

A day after the government increased the special commodity levy imposed on a kilogram of imported sugar to Rs. 50 on Nov. 02, an MRP for sugar was announced via an Extraordinary Gazette.

Related News :

MRP for sugar

Special commodity levy on sugar, upped


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