COLOMBO : Lanka to remove the price control on rice and import a buffer stock to prevent any possible shortage.
Accordingly, the Gazette notification issued imposing a maximum wholesale and retail price on rice has been anulled.
The decision was taken during the Cabinet meeting held Monday evening on Sept,27.
The Cabinet also decided to import up to 100,000 MT of rice to prevent any ‘artificial shortage’ of rice in the market.
The gazette imposing maximum retail prices on Keeri Samba, White and Red Samba, White and Red Nadu and White and Red Raw Rice was issued on September 02.
It had been issued by order of the Chairman of the Consumer Affairs Authority (CAA), under Section 20(5) of the Consumer Affairs Authority Act, No. 09 of 2003.
However, the relevant gazette notification has now been cancelled.
Meanwhile Trade Minister Bandula Gunawardena said the Cabinet also decided to provide necessary funds from the Central Bank for the release of essential food items held up at the Colombo Port.