SL activates warehouse pricing, vast coop system to battle CoL onslaught

November 16, 2024

Economy

SL activates warehouse pricing, vast coop system to battle CoL onslaught

November 02, 2017

Launching a major assault on the country’s raging Cost of Living, Sri Lanka closed its international tender call for 200,000 MT rice tranche and swiftly enlisted its vast cooperative network on 1st November to battle the country’s cost of living.

Minister of Industry and Commerce Rishad Bathiudeen on 1st November in Colombo announced that steps have been taken to create a new, state owned FMCG wholesale store chain to deliver essentials at low, warehouse prices -to anyone and in any asked volumes- as a stopgap measure in its Cost of Living control.

“Our international tender to import 200,000 MT rice closed on 31st October. Rice samples submitted with tender bids are being forwarded to ITI for lab tests. The 200,000 MT total consists of 90, 000 MT Parboiled Nadu rice, 60,000 MT Samba (Parboiled) rice and 50,000 MT White Raw rice”, said the minister.