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18 August 2023 10:59 am - 12 - {{hitsCtrl.values.hits}}
The Committee of Public Finance (CoPF) called for a report regarding the earning of an excessive profit of approximately Rs. 700 from the sale of a bag of cement.
It was revealed by the Committee of Public Finance that there is a huge profit of nearly 700 rupees between the price of cement landed at the port and the selling price after all taxes are deducted.
The matter came up during the committee that met recently Chaired by Patali Champika Ranawaka, who was appointed as the protem Chair in the absence of the Committee Chair Dr. Harsha de Silva.
The Committee Chair ordered the officials of the Ministry of Finance and the Ministry of Urban Development and Construction to give a report on the matter, as it appears that there is a huge gap between the selling price of cement and iron after all related taxes are deducted.
The order to increase the Cess levied on the import of cement raw materials by 2 rupees per kilogram was discussed at the committee meeting where the Chair pointed out that the construction sector can be greatly affected by increasing the Cess levy on cement raw materials.
It was revealed that the work of many houses, including low-income houses and middle-class houses, has stopped due to the housing projects started by the Urban Development Authority, and it was informed to provide a report on the impact on the construction industry.
The officials also pointed out that a house which was built at a cost of 12 lakhs earlier will cost at least 24 lakhs. The Committee also emphasized that the lack of proper evaluation of the social impact caused by the increases made by the Ministry of Finance for the purpose of increasing the Government's income is a big concern.(Ajith Siriwardana)
BuffaloaCitizen Friday, 18 August 2023 11:38 AM
This is a country of announcements only. We hear the announcement of every scam but nothing happens and all perpetrators are free and even stronger in there positions. So stop these announcements, it is a waste of time. We are destined for another bankruptcy, that is also not a worry for this countries highly ignorant public.
chux Friday, 18 August 2023 11:43 AM
so givernment controlled price a must moving forward
N V Jen Friday, 18 August 2023 01:28 PM
Many of CoPF findings are startling. Unfortunately, it neither has the authority to refer the corruption and mismanagement to CID nor the unscrupulous business practices to consumer protection authority. Its a valuable exercise in vain. As usual the public have to fume and bear.
DBS Lumbini Friday, 18 August 2023 01:29 PM
How much is the average transport cost from port to sales points? What should be the reasonable profit margin form one bag? Research and stop the indirect terrorism.
Fahim Knight Friday, 18 August 2023 01:39 PM
There's a tale among the Sri Lankan folks that speaks of the unahapuluwa, or slender loris. It's said that one can tie and assault the slender loris as much as they want, but no matter how harsh the treatment, not a single tear will fall from its eyes. This resilience is also attributed to certain traders.
Buddhist Friday, 18 August 2023 06:31 PM
Is the Minister sleeping or has he taken bribes to ignore this?
Doing both at the same time! Saturday, 19 August 2023 09:13 AM
May be he is doing both. i.e. Taken the bribe, enjoyed it and now taking a good nap. By the way, how did you find out?
Sambo Saturday, 19 August 2023 08:18 AM
Is there no ministry or department to look into these exorbitant profit earners or are they getting some from the cement manufacturers.
NAK Saturday, 19 August 2023 01:52 PM
Officials of the consumer affairs and trade must be having the time of their life!
UMAS ALI Saturday, 19 August 2023 07:38 PM
compare this to how much rajapaksa family looted mahinda net worth 6700 billion, richest man in sri-lanka
Tissa Fernando Saturday, 19 August 2023 10:37 PM
Rs 700 profit per bag is needed to cover overheads and returns for the investors for heavy capital investments. Is patali doing charity work with his businesses
Tissa Fernando Sunday, 20 August 2023 01:41 AM
@Umas Ali has a figure for Rajapaksha loot. Why not take action through legal system? May be you cannot because you simply write comments without any evidence but purely based on statements made by other politicians and those unknown people in YouTube.
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