June 05, Colombo (LNW): The government has signalled its readiness to impose a Maximum Retail Price (MRP) on salt in the coming days, should unjustified price increases persist in the local market.
The warning comes amid growing concern that certain importers and wholesale traders are exploiting the current shortfall in domestic salt supply to drive up prices.
Trade Minister Wasantha Samarasinghe addressing journalists at a media briefing expressed firm disapproval of profiteering efforts within the import sector. He clarified that the recent decision to permit salt imports was intended solely as a temporary measure to ease a supply shortage and was never meant to serve as an opportunity for commercial gain at the public’s expense.
Minister Samarasinghe pointed out that the cost of a kilogram of imported salt stands at approximately Rs. 77, even after factoring in a hefty 40% government tax.
“Even if one rounds it up to Rs. 80, it is still possible for wholesalers to earn a decent profit,” he said. “Margins of Rs. 10, Rs. 20 or even Rs. 30 may be justifiable under certain conditions — but anything beyond that would be considered exploitative.”
He went on to issue a direct warning to those attempting to manipulate market dynamics. “If there is any sign of price rigging or attempts to engineer an artificial shortage to inflate prices, the government will not hesitate to enforce a price ceiling without further notice,” the Minister said.
