The Ministry of Trade has announced the development of a new plan aimed at swiftly passing on the benefits of the rupee’s appreciation against the US dollar to consumers.
According to the Ministry’s Secretary, M.M. Naimudeen, Prime Minister Harini Amarasuriya, who also serves as the Minister of Trade, issued directives during a discussion held yesterday.
As part of the plan, market prices will be reviewed and analyzed to establish appropriate price ranges. Additionally, food importers and producers will be informed of the need to reduce prices, supported by detailed justifications.
Naimudeen emphasized that the advantages of the strengthening rupee have not yet reached the public. In response, the Ministry will announce a plan to lower the prices of food and other products within the next two weeks.
