Sep 13, 2018

Economic Council intervenes in controlling prices!

The Economic Council has decided to control the excessively escalating prices of other goods and services as a result of the increasing fuel prices based on the pricing formula.

Addressing a media conference held at the UNP headquarters, Ports and Shipping Minister Mahinda Samarasinghe said that when the fuel price is increased, businessmen and other services increase prices unreasonably, greatly inconveniencing the general public. Hence, the Economic Council has decided to intervene in controlling the prices of goods and service in order to protect the consumer.

He noted that the Economic Council had taken a decision to implement new laws at its recent meeting and necessary measures would be taken through the Consumer Affairs Authority. This responsibility had been entrusted to the Finance Ministry.