The Ministry of Trade has announced a new plan aimed at swiftly transferring 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 in charge, provided directives during a discussion held yesterday.
As part of this initiative, market prices will be reviewed and analyzed to establish appropriate price ranges. The plan also includes informing food importers and producers about the need to reduce prices, backed by detailed explanations.
Naimudeen emphasized that it has become apparent that the advantages of the rupee’s strengthening against the US dollar have not yet reached the public. Consequently, the Ministry will announce a plan to lower the prices of food and other products within the next two weeks.
