The Consumer Affairs Authority (CAA) has warned that selling rice at a price higher than the gazetted maximum retail price is a punishable offence under the law.
Issuing a statement, the CAA said that traders who sell rice above the maximum retail price will face strict legal action, such as the following penalties;
- For Proprietorships:
Minimum fine: Rs. 100,000
Maximum fine: Rs. 500,000 or 6 months imprisonment or both
- For Private Limited Companies / Bodies Corporate:
Minimum fine: Rs. 500,000
Maximum fine: Rs. 5,000,000
The CAA further urged the public to inform of traders selling rice above the maximum retail price via the CAA’s hotline 1977. (Newswire)
