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Import tax on milk powder reduced

Jan 25, 2011 10:27:14 AM - itnnews.lk

The Government has decided to reduce the import tax imposed on milk powder.

Accordingly the tax imposed on milk powder has been reduced from 50 to 22 rupees. The aim of this effort is to maintain stability in milk powder providing relief to consumers. The entire world is facing an economic crisis due to environmental changes which has impacted every Continent. The entire European Continent is facing a crisis of containing high inflation. The World Food Programme has pointed out that food prices have soared to a considerable extent in the world. It had referred to the soaring prices of sugar, fuel, grains and milk food. The Government had taken the decision to reduce the import duty on milk food with the aim of preventing the consumers in shouldering the burden of a price hike.