Sunday February 19, 2012 | By Bandula Sirimanna |
Increased taxes on essentials and non essential goods are on the cards as urgent revenue measures while other cost-cutting measures are also planned to reduce the Government’s rising debt, a Finance Ministry official said yesterday. These measures come amidst proposed increases in prices of bread, gas and milk powder with producers awaiting approval from Trade Minister Johnston Fernando. Bakery Owners’ Association President N.K. Jayawardena said bakers had asked for a meeting with the Minister of Trade to decide on a price increase. “We met on Friday and the members suggested an increase of Rs. 3 at least for a loaf of bread. Or in the alternative, the government should remove the import tax on ingredients used in bakery products,” he said. The Sunday Times learns that gas companies are also considering an increase of up to Rs. 200 for a 12.5 kg cylinder of LP gas and had asked for a meeting with Minister Fernando to get approval.Meanwhile, milk powder prices are also likely to be increased with companies seeking approval from the Consumer Affairs Authority to raise the price of a 400 gram packet by Rs. 15.READ MORE... |
