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Strict laws to detect traders increasing prices under the pretext of the fuel price

ITN News Editor
By ITN News Editor July 16, 2018 19:20

Strict laws to detect traders increasing prices under the pretext of the fuel price

The Government has taken a firm decision to strictly enforce the law against unscrupulous traders who increase prices of goods and services under the pretext of the fuel revision.

Minister Mangala Samaraweera has said that the Government is prepared to introduce a strong new Act to protect the rights of consumers overcoming the shortcomings of the existing Consumer Services Authority Act. A price revision of fuel will take place on the midnight of the 10th of every month based on fuel price formula that has been introduced by the Government. The Government has prepared the new programme with the intention of preventing traders changomg prices of goods and services at their wish along with the fuel price revision. Even though the prices of goods and service rise on occasions when the price of fuel rises, the consumer fraternity does not immediately get the benefits when these prices come down. As such the Government will be introducing this new Act to protect the consumers.

The crafting of the related laws is now taking place under the leadership of \minister of Commerce and Industries Risath Bathiyuideen. There are several causes for a price rise of an item or a service and Minister Mangala Samaraweera has emphasized that permission cannot be granted for a price revision of goods taking into account only the price of fuel. Many prices of goods as well as service are low than those that prevailed parallel to the previous regime.

The price of a 12.5 kg cylinder of gas was sold at 2650 in the year 2014. But this price has come down to 1538 rupees under the incumbent Government. Accordingly the consumer benefits 1112 rupees. In 2014 the price of a 400 gram pack of milk power was 386. However, at present it is sold at 340 rupees. A kilo of dhal during the previous regime ranged from 220 to 240 rupees. However, it is now sold at a price of 130 rupees. The consumer benefits by 90 rupees.

In 2014, a kilogramme of sugar was sold at 116 rupees but this has come down to between 96 and 110 rupees. A kilogramme of big onion was sold at 125 under the previous Government. It price at present is between 90 and 100 rupees.

The Government is granting all relief in the face of confronting many challenges. Despite the many challenges impacting the Government including natural calamities, the Government is dedicated to granting this relief to the consumer fraternity.

ITN News Editor
By ITN News Editor July 16, 2018 19:20