The Milk Powder Importers Association announced the revised prices of milk powder after the government decided to remove the price controls on four essential items.
Thereby, 1 kg of milk powder will be increased by Rs. 350.00, according to Lakshman Weerasuriya, a member of the association. Meanwhile, the price of 400 g of milk powder is expected to go up by Rs. 140.00.
Following the price revision, one kilogram of milk powder will be sold at Rs. 1,300.00 and 400 grams of the product will be at Rs. 520.00.
Weerasuriya said they would inform the Consumer Affairs Authority (CAA) of this decision.
These prices will have to be increased further if the Finance Ministry imposes any taxes on the product, he added.
On Thursday (October 07), the government decided to remove the price controls on cement, LP gas, milk powder and wheat flour. The decision was reached during a special meeting between President Gotabaya Rajapaksa and the Cabinet of Ministers.
(Source: Ada Derana)