Laws being prepared to reduce rice prices within weeks - Trade Minister

COLOMBO (News 1st); Legislation is being drafted to reduce the price of rice in the next two to three weeks, said Trade Minister Bandula Gunawardena on Wednesday (21).

The Minister said that the laws and regulations required to reduce the price of rice by more than 20 rupees have been amended.

The Minister also stated that the fine has been increased to Rs. 100,000/- for selling rice at a higher price.

In addition, a buffer stock 100,000 MT of rice will be imported to Sri Lanka, he added.

Further, the Minister assured that the price of rice would never be allowed to exceed Rs. 100/-