Sathosa’s frequent price slashes not for personal gains – Minister

Minister of Trade, Commerce and Food Security Nalin Fernando has commented on the frequent reduction in prices by Lanka Sathosa observed recently.

Joining Ada Derana’s ‘Big Focus’ programme this morning (30 Dec.), Fernando assured that the frequent reduction of prices of certain staple commodities was not imposed for any personal benefits of sorts, adding that there lies the potential for the prices of several goods to reduce vastly by next year.

Explaining the reasoning behind the weekly reductions, the Minister stated that pricing is decided upon based on the stocks received by Sathosa.

“We also get stocks of goods sufficient for a week, and the pricing is based on this. However, we get large stocks of essential goods which are used on a daily basis, and thus, the discounts we receive for such large stocks are the benefits we give the customers”, Fernando explained. 

The Minister further stressed that he is only trying to recreate  a sense of stability and balance within the market, by managing the imports and ensuring that Sri Lanka receives the required amount of commodities.

He emphasised that although he is unable to reduce the prices of goods as per the whims and fancies of many, he is able to manage and adapt to the market’s ‘ever-changing’ requirements in his capacity as the Trade Minister.

“I will be forgotten eventually, but if there is a successful  programme in place in this regard, I do not mind”, he said.