The Milk Powder Importers Association (MIA) assured that the long-standing milk powder shortage in the country would definitely come to an end by today or tomorrow ( October 7or 8) if the Central Bank had released the requested money to the relevant three commercial banks, the HNB, Standard Chartered and the National Development Bank. Speaking to Daily News Business, Ariya Kiri Director CEO and MIA member Lakshman Weerasuriya said after receiving money from the Central Bank, the three commercial banks will send orders to suppliers to release the milk powder from the Port and make arrangements to carry out the distribution.
He said milk powder distribution is a long process as the whole milk powder shortage in the country could be resolved within a few hours if immediate action was taken by the Central Bank to release money.
“Our association hopes that the Central Bank would positively respond to the MIA request and release the necessary money considering the urgent need of the country’s milk powder requirement,” he said yesterday.
According to the new price structure, a kilo of milk powder is Rs. 1,145 while a 400-gram packet is sold at Rs. 460. He said although his Association requested the Consumer Affairs Authority (CAA)
to permit them to increase one KG packet of milk powder by Rs. 350 the Authority permitted to increase a kilo of milk powder by Rs. 200.
“Although the MIA is satisfied with the new price approved by the CAA considering the current milk powder shortage, still the Association incurs a loss of Rs. 150 from one kilo of milk powder and therefore there is a possibility of revising the price again after the Government forthcoming Budget.”
He further said the MIA asked the CAA from the beginning of this year to increase the price due to the price increase of milk powder in the world market, the high cost of freight charges and increasing the value of the dollar against the Sri Lankan rupee.
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