Sugar Price Hike by Rs 10

The media convener of the Sugar Importers’ Association (SIA) Hemaka Fernando said,  the price of sugar in the market has gone up by Rs 10.

As per the 2017 Budget proposals, a two per cent tax has been levied on a kilogram of sugar.

He  said that besides the tax which came into effect on 16^th  December 2016  the seven per cent import duty had been increased by Rs 10 by Finance Minister Ravi Karunanayake. He added as a result the total import duty on sugar had been increased by 15 per cent and Customs also levies a commercial tax of Rs 13 on sugar. According to him due to the afore-mentioned reasons sugar cannot be sold at a controlled price in the market.