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Prevent private company trade monopoly in local market – JVP

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The Janatha Vimukthi Peramuna (JVP) called on the government to take measures without delay to prevent the manifestation of trade monopolies in the hands of private firms during this tough time.

JVP National Organizer Bimal Ratnayaka said two supermarket chains are currently grabbing control of the Sri Lankan market, and that this should not happen, because the companies cannot have or create monopolies in the market in accordance with the country’s trade laws.

“According to these companies’ financial statements, one company’s profit, excluding taxes, was Rs. 3,500 million.And the other had made Rs. 1,387 million in profits,” he said.

“We don’t want to imply that businesses shouldn’t generate money. How can these firms have the freedom to intervene and increase commodity prices as they choose without any constraints being put on them?” he asked.

“Sometimes they increase the prices without any real cause for it,” he said. “The government must come to the fore and stop these activities,” he said. He also said that it was unclear to them how raising fuel prices could lead to a rise in dollar reserves as put it by some government ministers after raising fuel prices from Monday midnight.

“We don’t understand how when we increase the costs of petrol in Sri Lankan rupees, it grows in dollars,” he said.

Ratnayaka said a number of organizations have already declared that their production costs will skyrocket as a result of the increased fuel prices.

“The Sri Lanka Bakery Owners’ Association has stated that they will no longer regulate bakery product prices and will sell their products at whatever cost they see fit,” he said.

“The Three Wheeler Owners’ Association has announced that their initial hire rate will be increased from Rs. 50 to Rs. 80.According to Ratnayaka, the Bus Owners Association has stated that the lowest bus ticket will be Rs. 25,” he said.

Thursday, December 23, 2021 – 01:09

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