Increase in Import Duty on Wheat Flour Takes Effect

COLOMBO (News 1st) - The import duty on wheat flour has been revised effective as of midnight yesterday.

This adjustment entails an increase in the tax imposed on a kilogram of wheat flour from 16 rupees to 27 rupees.

Meanwhile the system of import licenses for grain has been cancelled since midnight yesterday.

The Minister of State for Finance Ranjith Siambalapitiya says that this is expected to abolish the existing monopoly for the import of wheat flour and reduce the price through a competitive market system.