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MRPs to be imposed on several key items – Minister

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Minister Wasantha Samarasinghe has said that the government has decided to impose maximum retail prices on a range of essential items in the future. 

He made these remarks today (Dec. 16).

Highlighting the disparity between the production cost and market price of goods, the minister pointed out, “A water bottle that sells for Rs. 100 can be sold for less than Rs. 40. A packet of salt, produced at a cost of Rs. 52, is being sold for Rs. 100.”

Meanwhile, according to an official of the Consumer Affairs Authority (CAA), products that are expected to come under MRPs include bakery products such as bread, drinking water bottles, locally produced salt, imported essential food items such as dhal, onions and potatoes as well as several food items at restaurants such as fried rice and Kottu.

(Source : Lankadeepa)

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Special FD scheme for senior citizens introduced

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The Ministry of Finance has officially launched the special fixed deposit scheme for senior citizens.

Proposed in the Budget 2025, the scheme which is open to resident Sri Lankan citizens aged 60 years and above, comes into effect from today (July 01).

Eligible fixed deposits can be opened between July 01, 2025, and December 31, 2025, and must have a 12-month tenure.

The scheme will be implemented through the 17 licensed commercial banks; five (05) government banks and twelve (12) private banks that have confirmed participation. As part of the process, customers are required to provide a declaration confirming that the funds deposited are their own, their monthly income is less than Rs. 150,000, consenting to the sharing of relevant information with the Ministry of Finance, Planning and Economic Development for verification purposes, agreeing that any false information provided will result in disqualification from receiving the interest subsidy.

The government has allocated Rs. 30 billion to cover interest subsidies under this initiative.

Key features of the scheme:
– Deposit Period: 12 months (1 year)

– Deposit Limit: Maximum of Rs. 1 million

– Interest Benefit: Depositors will receive either

  • An additional 3% over the Average Weighted Fixed Deposit Rate (AWFDR), or
  • An additional 3% over the declared fixed deposit rate—whichever yields a higher return.

Senior citizens interested in availing themselves of the benefits are encouraged to visit the nearest bank branch starting today. Applicants must provide valid documentation, including their National Identity Card (NIC) and Taxpayer Identification Number (TIN) issued by the Inland Revenue Department (IRD).

This scheme aims to support the financial security of senior citizens by offering them a safer and higher-yielding savings option.

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LP Gas prices to remain unchanged for July

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Litro Gas Lanka Limited and Laugfs Gas PLC  have said that LP gas prices will remain unchanged for the month of July.

Accordingly, the prices of Litro Gas cylinders are as follows;

  • 12.5kg – Rs. 3,690
  • 5kg – Rs. 1,482
  • 2.3kg – Rs. 694

The current district-wise prices are as follows; https://www.litrogas.com/price-list/ 

Meanwhile, prices of Laugfs Gas cylinders are as follows;

  • 12.5 kg – Rs. 4,100
  • 5kg – Rs. 1,645
  • 2kg – Rs. 658

The current district-wise prices are as follows; https://www.laugfsgas.lk/pricelist.php 

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CAA warns of improperly labeled salt products

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The Consumer Affairs Authority (CAA) has warned to prosecute importers and retailers selling salt without proper labels, including missing manufacturer/importer info and retail price.

The public is advised not to buy such products, while distributors have urged to maintain valid invoices with supplier details or face legal consequences.

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