100,000 MT rice import cancelled
Trade Ministry confirms last-minute cancellation
By Imsha Iqbal
The Ministry of Trade has cancelled plans to import 100,000 metric tonnes (MT) of rice at the last minute in an effort to protect local farmers and preserve foreign exchange, according to its Secretary J.M. Bhadranie Jayawardhana.
The importation was planned as a means of bringing down the soaring price of rice in the local market and breaking the monopoly enjoyed by rice mill owners, Agriculture Minister Mahindananda Aluthgamage said on Tuesday (22).
However, the plan was cancelled yesterday following the discussions that took place with the relevant authorities.
Read the full story on page 9 of The Morning Business section