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Artificial Shortage

Aug 3, 2011 12:49:05 AM - thesundayleader.lk

Cooperatives and Internal Trade Minister Johnston Fernando has accused traders of creating an artificial cement shortage in many parts of the country.

Fernando has said some traders had hidden stocks of cement in order to create an artificial shortage.

He has threatened legal action against such traders.

According to him, hiding cement stocks and selling them above the specified price is a violation of the laws pertaining to consumer affairs and that it was a punishable offence.

The Ministry has said the Consumer Affairs Authority (CAA) is to file cases against 10 traders who tried to create an artificial shortage in the market.

The CAA has stated that every 50 kg bag of cement should be sold at a controlled price of Rs. 750.