The milk powder companies have taken steps to increase the prices of local milk powder after the introduction of the Social Security Contribution Tax and the high cost of ingredients.
The companies have increased the price of a 400g pouch by Rs.125.
Accordingly, the 400g packet of Pelawatta milk powder has now been increased by Rs.125.
Meanwhile, Renuka Perera, the Chairman of MILCO Ltd., has stated that the prices of milk powder packets will be raised as well.
"All milk powder manufacturing companies have been affected by the high cost of ingredients and by the Social Security Contribution Tax. "We have come to an unbearable situation," he said.
So all the MILCO dairy products, including milk powder packets, will be increased soon. The chairman said no decision has been taken yet to announce the prices, but discussions are under way. (Chaturanga Samarawickrama)
Dee Tuesday, 04 October 2022 12:02 PM
The 2.5% tax will result in a 10% increase in end price. That's the 'Armegeddon' theory of economics in Sri Lanka!
Lankan for country Tuesday, 04 October 2022 12:59 PM
Government must remove restriction and import duty for imported milk power. Sri Lankan milk power isn't made for export standards even, and more likely to have toxin than imported powder too. Most country in the world don't try to have their own dairy industry and focus on industry that gives them best revernue and import everything that is more cheaply and safely produced elsewhere. After all the crawling about for overseas dollar, government must wake up we can't be an island of self-sufficiency. We are totally dependent on other country to feed our people so better now reduce inconvenience to public of keeping over-high duty on imported milk powder. Even cows to make the milk have to be imported, because original Sri Lankan cows can't produce like imported varieties.
Concern Citizen Tuesday, 04 October 2022 01:33 PM
We only hear all prices are going up.. this is just crazy. Why don't MILCO do a cost cutting of their staff and have the milk powder offered at a affordable price enable the poor person also to purchase it !!!!!!
Danusk Tuesday, 04 October 2022 01:37 PM
The tax increase is 2.5% but the price increase is more than ten folds. Why is that?
Where is our Diana Tuesday, 04 October 2022 01:43 PM
People are going mad with this funny govt we have today. Prices keep on increasing daily and a normal cannot exist with so much of burdens. If people protest they will be arrested under PTA act and then sent to rehabilitation centres to keep their mouth shut.
Food first religious place last Tuesday, 04 October 2022 04:15 PM
This is another excuse to increase prices far more than necessary. However, the money printing is driving up costs far higher each month than any tax. Ending all money printing to pay for state sector and associated pensions is the first step to get inflation and price increases under control
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