The Bakery Owners Association has said that Prima Wheat company has informed them that wheat flour prices will not be increased as stated previously.
Wheat flour dealers previously said the company had decided to increase the price of a kilo of wheat flour by Rs 8.5.
However, the move had met with stiff resistance from state authorities such as the Consumer Affairs Authority, Industry and Commerce Ministry, and the Economic Reforms Ministry.
The Industry and Commerce ministry said that traders who sell wheat flour at a higher rate than the approved rates will have fines imposed ranging between Rs 5000 and Rs 100,000.
Companies that commit similar offences will face fines between Rs 50,000 and Rs 2 million. Both traders and companies could be sentenced to two years in prison, the ministry warned.
The Economic Reforms Ministry said that prices could be hiked only after receiving approval of the Consumer Affairs Authority and the Cabinet Cost of Living Sub Committee.
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
Ajith Gallage, the owner of a Bird Park in Nagarawawa, Hambantota, has been remanded over allegations of concealing illegally imported motorcycles, in a warehouse owned by him.
A passenger attempting to smuggle the largest quantity of gold of 35 kilo grams was arrested by the Customs at the Bandaranaike International Airport (BIA) today, a senior official said.
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