Govt. reduces price of imported milk powder

• Dr. Harsha takes ownership for introducing pricing formula, appreciates Govt. for continuing good policies 

The Consumer Affairs Authority (CAA) yesterday announced that the price of imported milk powder has been reduced with effect from yesterday.

MP Dr. Harsha de Silva

Accordingly the price of a 1 kilogram packet of imported milk powder has been reduced by Rs. 40, while the price of a 400 grams packet has been reduced by Rs. 15.

MP Dr. Harsha de Silva, who was instrumental in introducing in a pricing formula for imported milk powder, which was highly politicised, tweeted that the reduction of the imported milk powder was a result of that pricing mechanism and expressed appreciation to the current Government for continuing those policies.

“Today’s reduction of imported milk powder of Rs40/kg is based on the pricing formula we developed with my leadership upon complex discussions with stakeholders to depoliticize pricing. Glad @GotabayaR stuck to it; same way increases must also happen,” he tweeted.

The Economic Reforms Analytics Unit of the Ministry of Economic Reforms and Public Distribution under the former regime conducted a thorough analysis of the global milk powder prices and the prices in Sri Lanka for the pricing formula committee, in order to formulate a distinct pricing formula for imported milk powder brands such as Maliban and Fonterra, which depend on imported milk powder inputs. After over a dozen negotiations, these key companies entered into a pricing formula, based on the Global Dairy Trade index as a key variable.