Govt aims to do away with wheat flour monopoly by further reducing import levy

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)