BIZ

Minister & relative involved in concealing egg stocks?

Published

1 year ago

December 13, 2023

editor

Doubts are raised after the Sri Lanka State Trading Corporation (STC) announced that around 06 million imported eggs will be released into the market today and tomorrow (Dec. 13 and 14).

The decision comes in a backdrop where the price of an egg had increased upto Rs. 60 in the recent days.

Chairman of the STC – Mr. Asiri Walisundara says that the measure is being implemented on the directives of Trade Minister – Nalin Fernando, in a bid to control market prices and that consumers are able to purchase eggs at Sathosa outlets.

Meanwhile, News1st has reported that Minister Nalin Fernando himself has admitted that egg prices have increased. He had attributed the price hike to an artificial shortage created by concealing stocks.

The Minister has said that the Consumer Affairs Authority has been informed to inspect such places.

Meanwhile, leader of the National Consumer Front – Asela Sampath says that the biggest cool rooms in the country are located in Ja-Ela and are owned by a relative of the Trade Minister.

Noting that the relative is a major deciding force behind egg prices, Mr. Sampath questions whether it is the minister himself who had empowered his relative in this manner.

Mr. Sampath also alleges that it is the minister who had concealed stocks and then created the market shortage and the subsequent price hike through his relative.

BIZ

“Raja Lunu” to hit the market soon

Published

3 hours ago

March 20, 2025

editor

The National Salt Limited has announced plans to release a new brand of table salt under the government label, named “Raja Lunu,” to the local market in the near future.

This launch coincides with the formal transfer of the Alimankada Salt Factory to public ownership on the 29th of this month.

Chairman of National Salt Limited, Mr. Gayan Wellala, stated that the factory will produce and distribute “Raja Lunu” salt at an affordable price, aiming to offer a quality product at a concessionary rate.

BIZ

CAA confiscates Keeri Samba stocks worth over Rs. 3.8 mn.

Published

16 hours ago

March 19, 2025

editor

The Consumer Affairs Authority (CAA) has confiscated a stock of Keeri Samba rice worth over Rs. 3.8 million.

The stocks were officially seized today (March 18) following a legal case against two shop officials in Colombo 12.

On February 11, the Colombo Chief Magistrate’s Court (No. 5) fined shop owner Abdul Jabbar Mohamed Siyas and manager Kuruppan Murugayya Rs. 10,000 and Rs. 20,000, respectively, after they pleaded guilty to hoarding rice.

The case was filed after a raid conducted by the CAA revealed that the shop falsely claimed to be out of Kiri Samba rice, despite hiding 3,000 five-kilogram packs on the premises.

Under the Consumer Affairs Authority Act, when a retailer is found guilty of falsely declaring goods unavailable, the court has the authority to confiscate the stock.

BIZ

Delegation of Indian automobile manufacturer visits SL

Published

22 hours ago

March 19, 2025

editor

A 18-member delegation from the Society of Indian Automobile Manufacturers (SIAM) visited Sri Lanka from March 17 – 18, 2025.

The delegation included representatives from leading Indian vehicle manufacturers across all segments, including commercial vehicles, passenger vehicles, two-wheelers, and three-wheelers.

During the visit, the delegation called on Minister of Industry and Entrepreneurship Development, Hon. Sunil Handunneththi, and Deputy Minister of Industry and Entrepreneurship Development – Chathuranga Abeysinghe.

In addition, they held meetings with senior officials from the Ministry of Finance, Board of Investment of Sri Lanka, and with the members of Ceylon Motor Traders Association.
The delegation also met Deputy High Commissioner of India, Dr. Satyanjal Pandey, and apprised him on the operations of Indian automobile companies in Sri Lanka.

This visit further strengthens the economic partnership between India and Sri Lanka, fostering collaboration and development in the automobile industry.