LNP – Trade Minister rebuffs demand for price hike for milk powder

Trade Minister Bandula Gunawardana yesterday ruled out the possibility to grant approval for a price hike of imported milk powder because it would add to the burden of people battered by the pandemic.

Earlier, the leading milk powder importers insisted on a price hike of Rs. 350 for a one kilo packet due to the spike in the world market and the exchange cost due to the depreciation of the rupee. They also warned of a possible shortage of products in the local market unless a price increase was allowed.

However, Minister Gunawardana said everyone had to endure difficulties due to the pandemic.

“People are already burdened. Everyone should make a compromise at this time for the greater good of society,” he said