LNP – Govt to suspend import of sugar to prevent profiteering by importers: State Minister

State Minister of Minor Export Crops Janaka Wakkumbura said the government decided to suspend the import of sugar to prevent profiteering by importers who had stocks for more than six months in case of any increase of import tax on sugar.

He said that the expenditure on import of sugar amounted to Rs.96.20 per kilogram and with the increase of import tax by Rs.50.00 the price of sugar would shoot up to Rs.150.00 a kilo and its burden would be on the consumer. He pointed out that the importers would take the advantage of the price increase and release the old stocks for the new price.

He said steps would be taken to distribute the available stocks of red sugar through SATHOSA and the Cooperative stalls for Rs.117 a kilo.