News

Special commodity levy on sugar increased by Rs 1.75/kg

16 Sep, 2016

The Special Commodity Levy (SCL) of cents 0.25/kg imposed on imported sugar has been increased by Rs 1.75/kg from midnight Thursday (15). Accordingly, the Gazette extraordinary to effect the increase of this levy to Rs 2.00/kg has been issued by the Trade and Investment Department of the Treasury, the Ministry of Finance said.

Meanwhile,?a Special commodity levy of Rs 15/kg has also been imposed on imported raw sugar also from midnight Wednesday as the locally produced raw sugar is coming to the market these days. Sri Lanka produces around 50,000 MT of raw (Brown) sugar annually which is less than 10 percent of the annual brown sugar need.

Though the levy on imported sugar has been increased there is no escalation in the selling price of sugar. On the recommendation of the Cabinet Sub Committee on Cost of Living the Government had introduced maximum retail price for 16 essential items inclusive of sugar. Accordingly the maximum selling price of 1 kg?of white sugar will continue to be Rs 95.00 (Colombo Gazette)

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