Milk powder prices to be reduced after CoPF attack on Trade and Finance ministries

Trade Minister Nalin Fernando yesterday (12) announced that the price of milk powder would be reduced by Friday (15 March).

The announcement was made in the wake of the Committee on Public Finance (CoPF) lambasting both Trade and Finance Ministries for their failure to implement the milk powder pricing formula, introduced in 2018.

CoPF Chairman Dr. Harsha de Silva censured officials when he took up the issue with those officials summoned by the House Committee recently.

The former UNP State Minister said that the failure on the part of the Trade and Finance ministries to implement the pricing formula couldn’t be justified under any circumstances. The lawmaker said that the Finance Ministry should be held responsible for not extending the pricing formula, thereby allowing milk food importers to make a killing.

Dr. de Silva said that the Finance Ministry hadn’t implemented the pricing formula since 2019. The SJB MP said that the Trade Ministry official, responsible for handling the issue, seemed clueless and useless. (SF)