DERANIYAGALA (Daily Mirror) - According to the Consumer Affairs Authority (CAA), there is a stock of about 19,000 metric tons of sugar available in the country. Therefore, there is no possibility of a sugar shortage in the country, Finance State Minister Ranjith Siyambalapitiya said.
Addressing the media at an event in Ilukwatta, Deraniyagala this morning, he said whenever there is a stock of commodities available in the country, the value of that particular stock will increase after the import tax is increased.
But as a government, a maximum retail price can be imposed to prevent such undue profits. The current government followed that measure to prevent the price increase of sugar both times when the sugar tax was changed, the State Minister said.
He also mentioned that although the CAA conducts regular inspections on the sugar stocks in the country, the sugar businessmen use various tactics to gain profits.
He said even the Cabinet Paper states that the sugar stocks in the country should be carefully calculated during the tax period and a maximum retail price should be imposed until the stocks are exhausted.