Stabilising prices:

Govt to import essentials

Chaminda Perera

The Government is looking at the possibility of involving itself in the import of essential food items to make their prices more affordable to consumers.

According to Trade, Marketing and Cooperative Development Minister Johnston Fernando, a number of essential commodities have been identified to be imported to stabilize the prices of essential commodities in the local market.

This is the first time the Government was involved in the import of essential food items after the closing down of the Cooperative Wholesale Establishment was established by late Minister T.B. Illangaratne.

The Minister said this move will help end the monopoly enjoyed by the private companies in the import sector and stabilize the essential commodity prices in the local market.

He said the Ministry wants to put in place a viable mechanism that can maintain prices of essential items in the local market.

According to Ministry Secretary Anura Siriwardena, no one will be able to determine the prices of essential food items after the Government’s involvement in the import sector.

He said the private sector has the supreme power to determine the prices of essential food items due to lack of State players in the essential food commodity imports. Siriwardena is of the view that the private sector will no longer decide the prices of essential food items with the entry of the Government in the import sector.

The Ministry expects to distribute essential food items imported by the Government through Lak Sathosa and Co-opcity branches.