Cabinet to issue 42,000 MT of paddy to slash prices

Friday, 13 December 2019 00:00 - - {{hitsCtrl.values.hits}}

Import taxes on wheat flour to be reduced, more competition to be created

Cabinet approves issuing of 42,000 MT of paddy in Government Stores, destined to reach the market via Lanka Sathosa network, and said it would lift import taxes on wheat flour to drive down prices.

The paddy stock, acquired through the paddy purchasing program of 2018/19 Maha Season, will be processed through private small and medium rice mills.

The Cabinet of Ministers decided to set and maintain the Rs. 98 maximum retail price and supply rice to the market without any shortages.

The Cabinet further decided to grant approval to import wheat flour until the harvest of the Maha Season is received and said they would work to allow more companies to import flour to increase competitiveness in the market.

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