Fresh approach by Cabinet to tackle food security, rising inflation

The Cabinet of Ministers at its meeting on Monday decided to reconstitute its Sub Committee on Cost of Living (COL) apart from establishing a new food security committee on the recommendation by President Gotabaya Rajapaksa.

The two committees will recommend policy and practical resolutions to the Cabinet of Ministers to maintain the cost of living at a stable position. Food inflation in June jumped to an all-time high of 80% from 57% in May whilst non-food inflation rose to 42.4% in June from 30.6% in May as per the Colombo Consumer Price Index.

With President Rajapaksa as the Chairman, the reconstituted COL Cabinet Sub Committee will include the Prime Minister, Minister of Fisheries, Minister of Transport and Highways, Minister of Agriculture, Minister of Plantation Industries, Minister of Electricity and Power, and Minister of Trade, Commerce and Food Security.

The new Food Security Committee will be chaired by the Minister of Trade, Commerce and Food Security and include Secretaries of the relevant Ministries.