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Tuesday, 10 December 2019 00:23 - - {{hitsCtrl.values.hits}}
The Consumer Affairs Authority (CAA) yesterday announced that the price of imported milk powder has been reduced with effect from yesterday.
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MP Dr. Harsha de Silva |
Accordingly the price of a 1 kilogram packet of imported milk powder has been reduced by Rs. 40, while the price of a 400 grams packet has been reduced by Rs. 15.
MP Dr. Harsha de Silva, who was instrumental in introducing in a pricing formula for imported milk powder, which was highly politicised, tweeted that the reduction of the imported milk powder was a result of that pricing mechanism and expressed appreciation to the current Government for continuing those policies.
“Today’s reduction of imported milk powder of Rs40/kg is based on the pricing formula we developed with my leadership upon complex discussions with stakeholders to depoliticize pricing. Glad @GotabayaR stuck to it; same way increases must also happen,” he tweeted.
The Economic Reforms Analytics Unit of the Ministry of Economic Reforms and Public Distribution under the former regime conducted a thorough analysis of the global milk powder prices and the prices in Sri Lanka for the pricing formula committee, in order to formulate a distinct pricing formula for imported milk powder brands such as Maliban and Fonterra, which depend on imported milk powder inputs. After over a dozen negotiations, these key companies entered into a pricing formula, based on the Global Dairy Trade index as a key variable.
