Committee to decide on LP gas prices: Trade Minister

Saturday, 2 July 2022 00:54 - - {{hitsCtrl.values.hits}}

Trade Minister Nalin Fernando yesterday said a committee will be appointed to determine the price of LP gas.

“Both Litro and Laugfs will be regulated by the committee. The Consumer Affairs Authority (CAA) will intervene in the regulation of gas prices,” he told journalists yesterday.

The Minister claimed in the past LPG was not classified as an essential commodity and prices were not regulated.

He said the Cabinet of Ministers approved the appointment of a committee to determine LPG prices and regulations by the CAA.

However, when asked whether the price of LPG will be controlled under a maximum retail price (MRP), the Minister said it will be decided by the CAA.

On a separate note, Minister Fernando said the importation of 10 essential commodities through open accounts was permitted from yesterday and will be subject to the regulation of the Trade Ministry.

He added strict action will be taken against traders who do not sell rice at the controlled price.

The Minister said rice mill owners have been informed the MRP on rice will not be amended, whilst raids are continuously being conducted in this regard.