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Government Gazette

Milk powder prices further stabilised

The Government will stabilise the price of milk powder stipulating the maximum retail prices of Rs.275 (per 400g milk powder pack) for the next three months commencing from today to November 1 aiming to provide further relief to consumers.

Trade, Marketing Development, Co-operatives and Consumer Services Minister Bandula Gunawardhana told the Daily News that the price stability agreement was signed by the Consumer Affairs Authority(CAA) and the Milk Powder Importers yesterday at the Ministry premises.

The Minister said that the Cost of Living and Food Preservation Committee chained by President Mahinda Rajapaksa has recommended stipulating of maximum retail price of milk powder with the objective of providing relief to consumers.

The Minister said if any trader is engaged in selling a milk powder pack (400g) higher than Rs.275 he will be brought before Court.

“The CAA stabilised the retail price of milk powder pack (400g) by signing a price stability agreement with Milk Powder Importers on November 2007 by stipulating the maximum retail price at Rs.275. There was no price increase even by one rupee for last 10 months, “the Minister said.

He said that the Government was removed all types of taxes on the import of milk powder by imposing a single unit tax of Rs.5. The Treasury has to incur a loss of Rs.86 per one kilo of imported milk powder in order to provide relief to consumers.

The CAA will conduct raids across the country to nab errant traders. Consumers can inform the details of unfair trading to the CAA hotline- .2399146.

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