Minister of Trade Wasantha Samarasinghe has warned that the government will be forced to announce a Maximum Retail Price (MRP) for salt by this week, if importers attempt to sell imported salt for higher prices.
Addressing the media, Minister Samarasinghe said that the government allowed the importation of salt due to a shortage in the local market and not for importers to sell it at a profit-based higher price.
He revealed that a kilo of imported salt will cost Rs. 77, along with the 40% tax imposed by the government.
“Let’s say it has been priced at Rs. 80 a kilo. Then, wholesale traders are allowed to keep a profit of Rs. 10, 20, or 30. But not beyond this margin. However, if importers are trying to use this shortage to create a racket, then I would like to warn them not to engage in such activities. We will be forced to impose a Maximum Retail Price if this continues,” he said.
Minister Samarasinghe further warned importers not to attempt to sell a kilo of imported salt valued at Rs. 80 for Rs. 250.
“It is fine if the imported salt is sold even for Rs. 110 or Rs. 120. That profit is more than enough. The importation of salt was only allowed to address the current shortage and not for importers to gain profits. We would like to reiterate this to importers. We will not allow such profits to be acquired,” he added. (Newswire)