Price Identification Mechanism for Imported Goods

COLOMBO (News 1st); The Ministry of Trade has announced plans to introduce a system that will allow consumers to identify the appropriate price ranges for imported food and commercial goods.

This initiative aims to prevent unnecessary price hikes imposed by importers or intermediaries.

Secretary to the Ministry of Trade, M. M. Naimudeen, stated that the ministry will collaborate with the embassies of the countries from which goods are imported to implement this measure. 

The primary goal is to curb unwarranted price increases and ensure fair pricing for consumers.

Additionally, the ministry is continuing to explore ways to reduce the prices of food and commercial goods in the local market. 

A special committee appointed by the Minister of Trade is currently studying this issue.

Secretary Naimudeen assured that once the committee's recommendations are received, immediate steps will be taken to lower the prices of all feasible food and commercial goods.