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| Sunday, 13 March 2005 |
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Business |  |
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Direct flour imports to check bread prices The government will import 25,000 metric tons of flour from Argentina, Ukraine and Turkey for direct distribution to the cooperatives and bakery owners in the island to be sold at Rs 24.50 a kilogram in a bid to bring down bread prices. Minister of Trade, Commerce and Consumer Affairs Jeyaraj Fernandopulle took the decision to import flour after Prima increased the wheat flour price to Rs 31 a kilogram. After the UPFA government took office they decided to withdraw the subsidy and it accumulated to Rs 20 billion. Therefore the Prima company decided to increase the price of flour to Rs 31 a kilogram. As a result of the increase in the price of flour, bakery owners have increased the price of a loaf of bread from Rs 15 to Rs 18. Minister Fernandopulle is scheduled to meet Bakery owners this week. At present there are over 600 bakery owners in the country. According to sources the Minister wants to import the flour and give it direct to cooperatives and bakery owners so that bakery owners will be in a position to bring down the price of bread which will no doubt help the consumer. The government on March 1 imported 10,000 metric tons of flour from Turkey and at present the stores at Welisara holds 6000 metric tons of flour. All essential items had price control and if a company wanted to increase the price of such as item they had to inform the Consumer Affairs Authority(CAA). Earlier, the CAA was given a timeframe of one month to study the situation and give their submissions whether it is correct or not to go ahead with the price increase. But now this has been increased to three months by Minister Fernandopulle. Surekha |
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