News
COPF Chief: Milk food pricing formula discarded again to help importers make a killing
… frowns on trade minister’s role in the questionable process
By Shamindra Ferdinando
Chairman of the Committee on Public Finance (COPF) Dr. Harsha de Silva yesterday (28) said the Trade Minister shouldn’t play any role in setting prices. Instead, pricing formulae had to be introduced, the SJB lawmaker said.
Dr. de Silva said so when he was asked whether the Trade Ministry and milk food importers followed the formula introduced by him during the tail end of yahapalana administration. The former UNP State Minister said the latest reduction of milk food prices hadn’t been done according to the formula decided by the House Committee years ago.
Recently, the prices of packets of one kilo and 400g of imported milk powder were reduced by Rs. 150 and Rs 60, respectively.Responding to queries regarding the formula remaining suspended since 2019 and what he in his capacity as Chairman of the COPF intended to do, Dr de Silva said that ministers shouldn’t have any role to play in setting prices.
“That is not their job. Ideally, there should be sufficient competition in the market to establish a fair price. If not or if there is a collusion then the regulator, in this case the Consumer Affairs Authority, must have a transparent process to establish a fair price. A good way to do that is a formula. This type of non-transparent pricing involving politicians is an absolute no.”
Dr. de Silva recently lashed out at the Consumer Affairs Authority and the Finance Ministry for failing to implement the milk powder pricing formula, thereby allowing milk powder importers to make a killing. Even after that intervention, the relevant authorities haven’t acted on the instructions issued by the House Committee.
Four persons including a Budhist monk died and 32 others were injured when two SLTB buses collided head on at Weerawila at arond 12 noon today (18).
Three of the deceased were women. 22 of the injured were admitted to the Hambanthota Hospital while 10 others have been admitted to the Debarawewa hospital.
The Japan Maritime Self-Defence Force (JMSDF) ship OONAMI which arrived at the port of Colombo on a goodwill and replenishment visit on 09 Mar 26 departed on 11 March.
The departing ship was given a formal farewell from the Sri Lanka Navy, in keeping with naval traditions at the Port of Colombo.
The 150.5m long JMSDF OONAMI is commanded by Commander IIO Hiromasa.
During the stay in the island, crew members of the ship explored some tourist attractions in Colombo. The itinerary also included a coastal clean-up drive participated by naval personnel of both countries and engagements with the Sri Lanka Navy, designed to strengthen the bonds of friendship and cooperation.
The Central Cultural Fund established under the provisions of the Central Cultural Fund Act No. 57 of 1980 is responsible for development of cultural and religious monuments in Sri Lanka, settling the expenditure borne for development, renovation and conservation of local and foreign cultural monuments, awarding financial donations for artisans as well as awarding those who served the nation in the fields of culture and religious sectors.
The said act has been passed in Parliament 45 years back and, the requirement to revise the provisions of the act according to the contemporary requirements haa been recognized.
Accordingly, the Cabinet of Ministers granted their policy
approval to amend the said act, considering the resolution furnished by the Minister of Buddhasashana, Religious and Cultural Affairs.
SriLankan Airlines Alerts Customers to Social Media Scams
Four dead 32 injured in head on collision at Weerawila
JMSDF ship OONAMI concludes goodwill visit
Cabinet nod to amend Central Cultural Fund Act No. 57 of 1980
’National Namal Uyana’ declared as a National Heritage
Establishment of Supervisory Committees for restoring economic activities.
‘Dates have the highest sugar content to fight Coronavirus’
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