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| Wednesday, 25 August 2004 |
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Confiscated stocks at customs: CWE to sell potatoes at 40% less than market price by Shirajiv Sirimane The Ministry of Trade and Commerce has decided to purchase 107 metric tons of Potatoes from the Sri Lanka Customs. According to an official at Trade and Commerce Ministry Purchasing Department the Minister of Trade and Commerce Jeyaraj Fernandopulle has directed them to make this deal. The Potatoes are now being sold at a very high price and the best way to reduce them is to release more stocks to the local market immediately. The Minister was informed that the Customs have confiscated a large amount of Potatoes due to non payment. He said that the Ministry has negotiated with the customs to purchase these stocks at the rate of Rs. 11 per kilo. The Ministry will then release these stocks to the market through the Co-operative Wholesale Establishment (CWE) at a price which would be 40 percent less than the current price. "This would reduce the price to some extent," he said. The Minister has also negotiated with the Pakistan government to bring down a ship load of Rice, the Ministry official said. The Minister had already met the Pakistan Ambassador in Sri Lanka in this regard. When the rice stocks arrive from Pakistan they would be stocked in CWE stores and released simultaneously only if there is an unexpected price hike. "If not these would be sold in batches from the CWE outlets," he said. He said that the Ministry is now negotiating with the Chinese government to import other commodities urgently. |
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