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Era of deciding prices by looking at the consumer’s face is no more

Feb 19, 2011 11:17:43 AM - itnnews.lk

Minister Johnston Fernando is of the view that the era in which prices were decided by looking at the face of the consumer has ended.

The Minister emphasized that it is mandatory to indicate the prices of advertised goods with effect from the 1st of next month. He said that the attempts made by the opposition to derive narrow political mileage from the increasing prices caused by the world economic crisis, have been unsuccessful. He noted that when the President entrusted him the Trade Ministry portfolio, he was requested not to give into the traders. Their only aim is to protect the consumers. The Minister was confident that in five years time the cooperative sector would be developed to suit the modern era.

The Minister was speaking at the re-opening of the CWE storage facility at the Railway Station precincts in Kandy following renovations. The Minister said that the Cooperative service was being developed so that it could control the prices of goods, while competing with the Private Sector. Central Province Chief Minister Sarath Ekanayake was present.