• CAA & Trade, Commerce & Food Security Min. to assess progress in 1-2 months 

The Ministry of Trade, Commerce, and Food Security stated that the recently introduced indicative price list is successfully operating and that the objectives of introducing it could be fulfilled in the weeks to come.

The Ministry introduced an indicative price list earlier this month (April) following public criticism regarding its lack of intervention to regulate market misconduct. The indicative price list contains a specific price range for each good, according to which the goods must be sold. It does not contain specific prices but a price range for each good. 

When contacted by The Daily Morning yesterday (23), Minister of Trade, Commerce, and Food Security, Nalin Fernando said that the Ministry’s decision to introduce an indicative price list can be considered a successful move taken by any government to regulate market misconduct in a way that is favourable for both the consumers and the vendors. He said that according to public feedback, the indicative price list has been very helpful for consumers to be conversant with market prices and to prevent them from being misled by certain vendors.

Stating that the Ministry is working together with the Consumer Affairs Authority (CAA) to make the public more aware of the particular indicative price list, Fernando noted that such measures will empower consumers further with regulations and awareness. He noted that while the price list primarily focused on the market misconducts that took place during the recent festival season (Sinhala and Tamil New Year Avurudu festival), it will be continued further as a practice. He said that the real progress of this measure is to be evaluated after one or two months, as it is too early to make comments on the progress of the entire programme due to a lack of proper information in this regard. However, he said that the Ministry can assure that the programme has been successful thus far and that the expected results could accordingly even be seen during the recent festival season.