Minister of Trade and Cooperatives Wasantha Samarasinghe has issued a stern warning to salt importers and traders, stating that if unfair profits are being made on salt sales, the government will impose a maximum retail price without hesitation.
Speaking at a media briefing, the Minister expressed concern over the current pricing practices. “We allowed salt to be imported due to a domestic shortage. Today, salt is coming into Sri Lanka from India at a cost of around Rs. 77 per kilogram, including a Rs. 40 import duty. Let’s say Rs. 80 in total,” he said.
He noted that while it’s acceptable for traders to earn a modest profit margin, it is completely unreasonable to sell salt at Rs. 250 per kilo. “In general wholesale trade, there might be a 10% to 20% margin. But if importers are trying to exploit this shortage, that’s unacceptable. I’ve already informed the importers and their associations don’t turn this into a racket.”
The Minister went on to say that a fair price for a kilo of salt should be around Rs. 100 to Rs. 120. “You were allowed to import salt to ease a national shortage, not to exploit it for excess profit. If this continues, we will take immediate action to impose a maximum retail price this week,” he added.
Samarasinghe emphasized the government’s stance: “We are very clear this shortage should not be turned into an opportunity to extort consumers. You are allowed to make a reasonable profit, not an unfair one.”
This development comes amid growing public concern over the rising cost of essential goods, prompting the government to consider broader price control measures to protect consumers from market exploitation.
