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Consumers lack awareness, laws alone not enough: CAA
ECONOMYNEXT –Sri Lanka’s consumers should be more aware and vigilant when purchasing goods through online platforms and e-marketing methods, the Consumer Affairs Authority has said.
“There can be any number of laws in the country but it will be useless if consumers aren’t aware of the legal recourse,” Janaka Prasad, Assistant Director of the Consumer Affairs Authority said.
The methods of consumers purchasing goods and services have evolving faster than a country can enact laws, Prasad told reporters Friday, adding that this was a global challenge.
“The consumer plays and important role in navigating a fast evolving marketplace.”
“We have a literacy rate of 90-95 percent, but this is not enough. The ability to read is not sufficient. Consumers have to be able to comprehend. That cognizance is lacking in Sri Lankan consumers when you compare with the rest of the world.”
Sri Lanka’s consumers must make sure to protect their money. “Most of the complaints we receive are not about essential items. People scrolling on their phones decide impulsively that they want to buy something.”
“Consumers have to do due diligence of what they buy, consider the specifications, the country of manufacture, the product’s history, read reviews (of course some companies pay for reviews), so consumers must consider all of this.”
Laws are enacted over time in response to various challenges presented at various times, the CAA official pointed out. “We cannot change the law daily or weekly in pace with the changing marketplace.
“If you look at the 19th and 20th centuries the pace of change was slow. But in the last 20 years alone things have changed drastically. A phone you buy today could be outdated in a week. 20 years ago a tv would last you some time, but now LED and LCD tvs don’t last that long.
“Quality, durability and technological use of goods have evolved. So consumer demand must be aware of these, factor in these considerations.”
The CAA receives a lot of complaints Prasad said. “There are actions we can take within the legal framework we have now. But we have to amend and bring the law up-to-date with the changes in the online purchasing, then we can ensure a far safer online marketplace.”
“We have to develop consumer awareness. Only then we can reduce this problem.”
News
Maldives Coast Guard Ship Huravee arrives in Colombo
The Maldives Coast Guard Ship Huravee arrived at the Port of Colombo for replenishment purposes on 02 Mar 26. The visiting ship was welcomed by the Sri Lanka Navy (SLN) in compliance with time-honoured naval traditions.
The ship is a 48.9m long Offshore Patrol Vessel which is commanded by Lieutenant Colonel Ahmed Nafiu Mohamed.
Meanwhile, the ship’s crew is scheduled to visit several tourist attractions in the city of Colombo, during their stay in the island.
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AKD warns of far reaching economic consequences of Middle East war
President Anura Kumara Dissanayake yesterday called for an immediate and peaceful resolution of the escalating Middle East conflict, warning that the crisis could have far-reaching repercussions on the global economy, including Sri Lanka.
Addressing Parliament, the President stressed that no military conflict benefited humanity, particularly at a time when destructive military technologies were rapidly advancing.
“Any military conflict does not create a favourable situation for any group of people,” he said, urging all parties to make urgent commitments towards peace. “As Sri Lanka, our position is that all parties involved in this war must, as soon as possible, take steps toward a peaceful world.”
He cautioned that Sri Lanka could not remain insulated from the fallout from the conflict, noting that disruptions to global oil and gas supplies, threats to migrant workers in the Middle East, and potential shocks to tourism, remittances, shipping and aviation were real concerns.
A national programme was being formulated to mitigate the impact, he said, adding that its success would hinge on broader international efforts to restore stability, the President said.
Acknowledging public anxiety shaped by past economic hardships, President Dissanayake said social stability could not be ensured through rhetoric alone but required tangible guarantees that citizens would not face another crisis.
While noting that the government had successfully navigated multiple challenges since assuming office, he described the Middle East situation as distinct due to the uncertainty surrounding its duration and outcome.
The government, he said, was closely monitoring developments. The Central Bank had conducted a review with a report on the likely economic impact expected shortly. The Ministry of Finance is also preparing an assessment of the potential effects on public life, alongside measures to ensure the uninterrupted provision of essential services locally and for Sri Lankans overseas.
“The primary responsibility for finding a path out of the crisis rests with the Government,” he said, calling on Parliament and the public to collectively confront the challenge under a unified national plan.
Providing a detailed account of the country’s energy reserves, the President said storage capacity rather than supply remained the key constraint. Excluding the Indian Oil Corporation tanks in Trincomalee, total storage capacity at Kolonnawa and Muthurajawela stands at approximately 150,000 metric tons.
Diesel stocks were currently sufficient for 33 days, with refining contributing around 1,800 metric tons daily. Petrol reserves will last 27 days, with a 35,000 metric ton shipment due on March 7 or 8 expected to extend availability to around 40 days.
Aviation fuel stocks are adequate for 49 days, supported by both daily refining and imports. Scheduled shipments include vessels from RM Parks on March 14, Sinopec on March 17, IOC on March 21 and the Ceylon Petroleum Corporation on March 28.
Crude oil supplies were sufficient to operate the refinery for 26 days, with an additional shipment expected to extend operations by a further 18 days, the President said.
“Because of this, there is no crisis regarding oil,” the President assured Parliament.
News
Pope invited to visit Sri Lanka
President Anura Kumara Dissanayake has invited His Holiness Pope Leo XIV to visit Sri Lanka.
The official invitation was handed over by Minister Bimal Ratnayaka to the Vatican’s Under Secretary for Relations with the States, at the Vatican, yesterday, during the Minister’s official visit to Italy, the President’s Media Division said.
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