(UDHAYAM, COLOMBO) – Cabinet of Ministers has approved to import 40,000 metric tons of coconut oil in a bid of soaring prices in local markets.
The decision was taken as a short term measure to accommodate the situation, and the cabinet has decided to revise the special commodity tax in order to reduce the price of coconut oil.
Cabinet spokesperson, Minister Gayantha Karunathilaka stated this at a media briefing held in Colombo to inform of cabinet decisions.