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Aug 1, 2011 11:54:08 AM - itnnews.lk

Minister Johnston Fernando has informed the Consumer Affairs Authority to take stern legal action against traders who sell cement above the control price of hoard or stash stocks. At present there is a minor shortage of cement. The Minister said this would be solved within the next few weeks. He attributed this situation to the closure of a Pakistani firm which supplies stocks to Sri Lanka. However, under these circumstances, no one can sell cement above the control price or hoard stocks.

The Minister has given instructions to Chairman of the Consumer Affairs Authority Rumi Marzuk to institute stern legal action against unscrupulous traders. A bag of cement costs 750 rupees according to a gazette notification issued by the Authority. Cement can be stocked only for a period of three to five months. As such the Minister emphasized that hoarding cement amounts to flouting the consumer law.