Finance Ministry says no approval to increase sugar price

Accordingly, the wholesale price of sugar has been increased by Rs 15 a kilo, the Sugar Importers’ Association said.The Finance Ministry said that world sugar prices have dropped drastically and so despite a new tax being imposed on sugar the selling price of sugar cannot be increased. The Finance Ministry says approval has not been given to increase the price of sugar.The Sugar Importers’ Association said the wholesale price of sugar has been increased from today. The Finance Ministry warned that action will be taken if the price of sugar is increased in the market. (Colombo Gazette)

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