- Published on Wednesday, 20 June 2012 10:40
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Prices of 19 varieties of infant milk powder have been reduced with immediate effect.
Addressing a Media Conference in Colombo yesterday, Minister of Cooperatives and Internal Trade Johnston Fernando said that local and international companies marketing infant milk powder found that these companies are making 100 percent, 200 percent and 300 percent profits from the infant milk powder
He said that President Mahinda Rajapakse instructed to look in to the price structure of the infant milk powder and take steps to reduce the prices
He said that the Consumer Affairs Authority held discussions with the concerned companies 6 months ago, but they were not willing to reduce the prices. It was after that the government took steps to reduce the prices. Accordingly, the prices of milk powder have been reduced in the range of 2 rupees to 404 rupees. The new prices will become applicable with effect from today (niz).