Minister says ’No’ to cement price hike

Minister says ’No’ to cement price hike
Published: 30 December 2007

The Ministry of Trade and Consumer Services will take legal action against Prima Ceylon Ltd. for increasing prices of wheat flour without obtaining the approval of the Consumer Affairs Authority (CAA), said Minister of Trade, Marketing Development, Co-operative and Consumer Services, Bandula Gunawardana.

He said inflation is a major issue in the country and steps will be taken next year to curb inflation which hit 24 percent in October, the highest in the region. The Minister said approval will not be granted to increase the price of cement next year. Economic analysts have warned in the ’Straits’ Times that high prices of basic commodities threaten to derail economic growth.