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    Special Commodity Levy revised to protect the local sugar industry Featured

    September 19, 2016

    The government has decided to increase the Special Commodity Levy on imported sugar by Rs.1.75 with effect from (September 15).  Accordingly, the Special Commodity Levy on imported sugar has been increased from Rs.0.25 to Rs.2.00 per kilogram.

    In addition, Special Commodity Levy of Rs.15.00 per kilogram has also been imposed on brown sugar with effect from (September 15).  Domestic produce of brown sugar is currently reaching the market and, Special Commodity Levy has been increased by the government intending to protect the local sugar industry.  This is  also aimed at bringing some relief to sugar cane farmers as well.

    At the same time, the maximum controlled price set for sugar,Rs.95 per kilogram, will not change due to the increase of the Special Commodity Levy.

    Meanwhile, stern action will be taken against the traders who sell sugar above the government’s controlled price, Finance Minister Ravi Karunanayake said.  He said that instructions have already been given to the relevant authorities to launch island wide search operations.

    Having analyzed the price fluctuation in the world sugar market and, to protect the local industry, the farmers and the consumer, steps were taken to revise the Special Commodity Levy, Minister Karunanayake said.

    The Ministry of Finance constantly keeps checking price fluctuations of essential commodities including sugar in the world market and, the government is ready to take necessary action to protect the consumer as well as the farming community on the recommendations by the Cabinet Sub Committee appointed to look into cost of living, Minister of Finance Ravi Karunanayake reiterated.

    Last modified on Monday, 19 September 2016 12:39

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