The Cabinet of Ministers has granted approval for a proposal to import 100,000 Metric Ton of rice.
The proposal, tabled by Minister of Trade Bandula Gunawardana was approved during yesterday’s weekly Cabinet meeting.
The Trade Ministry in a statement said, the move to import rice was taken since prices of rice variants in the local market have increased steeply due to arbitrary decisions taken by producers and traders.
Accordingly, the Ministry has decided to use the government-to-government import scheme and purchase 100,000 Metric Ton of rice.
The Ministry noted the incumbent government introduced a policy to limit the import of rice and other essential goods to protect farmers and local producers.
It noted however producers and traders have misused the policy and increased prices of rice and burdened the public.
The Trade Ministry said therefore it decided to import additional stocks and control the prices of rice in the local market.
(Source: News Radio)