350 new Co-ops islandwide

Irangika Range

The Government has decided to set up 350 new Co-operatives islandwide to provide essential commodities at lower prices for consumers for the forthcoming Sinhala and Hindu New Year Festival.

The Trade, Marketing Development, Co-operative and Consumer Services Ministry is planning to set up these 350 Co-operatives spending Rs.10 million across the country including the North and East.

Under this project, A new Co-operative in Panadura will be opened on March 6. The Ministry is also expected to open 25 more Co-operatives countrywide before the forthcoming Sinhala and Hindu New Year.

The Government has established the State Trading Wholesale Company Ltd estimated at a cost Rs.1,000 million to purchase essential commodities directly from the international and national markets and distribute them through co-operatives and Sathosa outlets at low prices for the consumers.

This Company will commence the import of essential commodities from the international market to distribute them through the 350 Co-operatives.

He said the Government will import ponni samba for distribution through these Cooperatives and Sathosa outlets to consumers before the Sinhala Hindu New Year.

This step would prevent the attempt of errant traders on creating an unfair shortage by concealing stocks and selling the essential commodities at higher prices for the upcoming festival season.