The wholesale price of 1kg of sugar was increased by Rs. 15, while the retail price was increased by Rs.20-30 with effect from today, Sri Lanka Sugar Importers Association (SLSIA) Deputy President Hemaka Fernando said.
Addressing a news briefing, he said the prices had to be increased considering the Government’s decision to increase the entire tax amount imposed on sugar to Rs. 49 from Rs.31.
“Prior to the decision, only the customs duty of Rs.31 was imposed on sugar because sugar had been included to the Special Commodity Tax List. However, the Government removed sugar from the list on this Tuesday that resulted in adding another three taxes like PAL, Excise Duty and National Building Tax (NBT),” Fernando said. (Sheain Fernandopulle)