- Last Update 2024-08-31 22:06:00
Finance Ministry warns sugar importers and distributors against increasing selling price of sugar
The Ministry of Finance yesterday ruled out the possibility of a price hike in the selling of sugar, in spite of the taxes incurred by sugar importers.
The Finance Ministry, issuing a statement said the increase in tariffs was imposed in a bid to prevent local sugar producers from decreasing in the global market.
Further, the Ministry also warned sugar importers and distributors of initiating legal action if any attempt was made to increase the selling price of sugar.
Speaking to local media, the Spokesman of the Sugar Importers Association Hemanka Fernando cited a possibility of an increase in the selling price owing to the tariff hike as well as the dollar slide.
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