In a bid to do away with existent wheatflour monopoly the Government has decided to further reduce the duty on wheatflour by 35% from next week.
State Minister for Trade & Consumer Affairs, Anura Priyadarshana Yapa said the current market rate for one ton of wheat floor stands at 250 USD and in light of this the local rate for wheat flour is still quite expensive in comparison.
Currently only two multinational companies import wheat flour into the Sri Lankan market.
The Minister said the companies will be urged to reduce their prices and failing which action will be taken.
Previously, the Government decided to reduce the wheat floor import duty for a short period of time in order to lessen the burden on the public.
Further the Minister stated that from January 2020, the government hopes to open up the wheat flour market allowing permits for more companies to engaging in the importation of wheat flour.
(Reporting by Damith Wickremesekara)
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