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LECO subsidiary targets export market

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Ante LECO, a subsidiary of the Lanka Electricity Company (LECO), has decided to expand the range of electricity meters being manufactured.

Accordingly, the Ante LECO Metering Company has decided to manufacture three-phase meters and smart meters, in addition to the single-phase meters they currently produce, in a bid to fulfill the entire domestic requirement for these three meters.

Taking to Twitter, Minister of Power and Energy Kanchana Wijesekera revealed that with the expansion, the metering company also expects to target the export market in the future.

Ante LECO, a joint venture between the LECO and Ante Meter Company Ltd. of China, currently produces 250,000 single-phase meters per year, supplying the quantity required by both LECO and the Ceylon Electricity Board (CEB).

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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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