Price stabilisation plan before New Year

Dharme Sri Abeyratne

COLOMBO: The Government has finalised arrangements to implement a strategy aimed at stabilising the prices of certain essential goods and commodities, Trade, Marketing Development, Co-operatives and Consumer Services Minister Bandula Gunawardene said.

According to the Minister, the Government is set to implement this plan before the upcoming Sinhala and Tamil New Year.

"We are going to put our strategy into effect for three months from March by which we hope to stabilise the prices of all essential foods," he said.

In this regard, the Government will make use Clause 14 of the Consumer Protection Act, the Minister said adding that this was the first time in Sri Lanka's post indent history that a Minister was going to use the Act to stabilise the prices of essential goods.

Gunawardena revealed this addressing Building Materials Corporation (BMC) staff members after an inspection tour of the BMC head office.

The Government has no plans to wind up the BMC even though it is a huge burden on the Treasury.

"We do not have any idea to close this institute since it has rendered a yeoman service in the past.

As a mark of gratitude to those who started the BMC we should uplift it within a short period with the help of all".

The Minister said the Government has drawn the attention on stabilising a particular area for building materials. With the stabilising of this particular area consumers will be able to get all their building materials with competitive prices", he said.