The Ministry of Trade and Consumer Protection has announced plans to introduce a new program aimed at ensuring consumers benefit from the recent strengthening of the Sri Lankan rupee against the US dollar. This comes after Minister of Trade and Prime Minister Harini Amarasuriya instructed officials during a meeting on October 3 to address the issue.
The Ministry revealed that despite the rupee’s appreciation, consumers have yet to see a reduction in prices, particularly for essential goods. As part of the initiative, the ministry will conduct a thorough review of current market prices and carry out an analysis of price fluctuations.
An awareness campaign has already been launched, targeting food importers and producers to highlight the necessity of lowering prices. The ministry plans to introduce measures that will bring down costs, especially for food items, within the next two weeks.
The initiative aims to ensure that the benefits of a stronger rupee are passed on to the public, and the ministry is optimistic that consumers will soon see a drop in the cost of living.
