Cabinet waives import tax on wheat flour

Colombo (News 1st) - The Cabinet of Ministers has decided to temporarily reduce the import tax on wheat flour, in a bid to control its price during the festive season. Addressing the Cabinet media briefing today,  Co-Cabinet Spokesperson Min. Ramesh Pathirana noted that they are aware that the prices of rice during the festive season is a bit high, adding that the reduction of import tax on flour was also influenced by this. He noted that the Cabinet has decided to impose a Maximum Retail Price of Rs 98 for rice while also stating that steps are being taken to convert paddy from the Maha season into rice. The Minister believed that sufficient stocks of rice would be released to the market in the coming days and that the price of rice would gradually reduce within a month.