September 29, Colombo (LNW): The Consumer Affairs Authority (CAA) has taken action against over a hundred businesses accused of selling rice at prices exceeding the government-mandated ceiling.
Over the past fortnight, inspections were carried out at 105 retail outlets suspected of flouting pricing regulations, leading to a wave of legal proceedings now being set in motion.
Officials from the CAA confirmed that those found culpable will face stern legal consequences for their actions, warning that violations of price control measures will not be tolerated.
The regulatory body reiterated its commitment to ensuring food affordability for the public, especially with rice being a staple in the Sri Lankan diet.
Penalties for such infringements are significant. In the case of individual business owners, sanctions include fines ranging between Rs. 100,000 and Rs. 500,000. Offenders may also be subjected to custodial sentences of up to five months, or both, depending on the severity of the breach.
Private companies found guilty of engaging in similar malpractice face even steeper repercussions, with courts authorised to impose fines from Rs. 500,000 up to Rs. 5 million.
In more severe instances, such as wilfully hoarding rice stocks to manipulate market prices, the courts may additionally order the seizure of the withheld goods, alongside financial penalties and potential imprisonment.
