March 30, Colombo (LNW): Sri Lanka is preparing to introduce new laws aimed at tackling the sale of imported goods at unusually low prices, amid growing concerns over unfair competition faced by domestic manufacturers.
Minister of Industry and Entrepreneurship Development Sunil Handunnetti revealed the proposed move during an निरी inspection of the Nalanda and Kaludewala industrial zones in the Matale District. He indicated that the legislation would target traders dealing in goods believed to have entered the market through irregular or unlawful channels.
The Minister pointed out that a range of items—including footwear, construction materials such as tiles, and everyday household products—are increasingly being sold at prices that undercut locally produced alternatives. He warned that such pricing patterns raise serious questions about compliance with import regulations and quality standards.
Calling for greater vigilance, Handunnetti urged manufacturers and members of the public to report suspicious cases to the authorities. He stressed that safeguarding the domestic industry requires collective responsibility, rather than relying solely on government enforcement.
Officials believe that curbing the influx of underpriced imports will help stabilise local production, protect jobs, and encourage fair market practices. The proposed legal framework is expected to strengthen monitoring mechanisms while imposing stricter penalties on those found violating trade regulations.
The Ministry also hinted at broader reforms to support small and medium-scale enterprises, as part of efforts to boost local industry and reduce dependence on external markets.