Despite a directive by the President, Trade Minister – Nalin Fernando is yet to table a cabinet paper to reduce prices of locally refined coconut oil.
Last week, the President had informed the Trade Minister to submit a cabinet paper to reduce the VAT levied on locally refined coconut oil or to provide alternate relief.
However, when inquired of this by the media, Minister Fernando has said that the cabinet paper is yet to be set.
The price of a locally refined coconut oil bottle has currently increased to Rs. 550.
