Dual mechanism for rice

In a bid to control price increase, President Maithripala Sirisena yesterday issued a directive to impose a dual price mechanism to control retail rice prices and maintain a 100,000 MT buffer stock of rice.

Accordingly, different control prices for imported and locally produced rice is to be imposed by the relevant authorities.  

The President also said that market conditions should not be allowed to escalate to create a shortage of rice, stressing the need for an appropriate mechanism to provide rice to the public at subsidised rates. 

Speaking at a meeting with the rice mill owners and rice importers, held at the Presidential Secreatriat, Sirisena said that the reduction in import levies for rice should be fully transferred to the public. 

Ministers Ravi Karunanayake, Rishad Bathiudeen and P. Harrison also took part in the discussion. 

“It is the responsibility of all to provide rice to the public at a concessionary rate without leaving any room for a shortage in the market,” the President added.