Wednesday, 08 May 2024
Lanka Sugar refutes claims on low-priced sugar sales

Lanka Sugar refutes claims on low-priced sugar sales

Lanka Sugar Company refutes allegations of selling large stocks of sugar and ethanol lower than the market price before the government’s commodity revision recently.

Secretary of the Industry and Commerce ministry - TMKB Tennakoon, yesterday (11) told journalists in Colombo that due procedure have been followed by calling for tenders and specified procedures and prices were decided transparently.

He noted that the levy took effect from 16 September 2016 and the rate was not Rs 12 as alleged but Rs 15.

Pelwatte Sugar Industry (under Lanka Sugar Company Limited) never called for a tender in the month of September 2016. The only sale took place was 1636 MT of sugar at Rs 101.47, he added.

Neither Pelawatte Sugar Industry nor Sevanagala Sugar Industries Limited sold sugar at Rs 60 per kilo he further disclosed.

Both Pelawatte Sugar and Sevanagala Sugar came under Minister Rishad Bathiudeen only after September 09, 2015.

In July 2015, 1784 MT of sugar was sold at Rs 62 per kilo and in August 2015, 2293 MT of sugar was sold at Rs 62 per kilo.

The tax of Rs 300 was imposed on ethanol on October 24, 2014.

However, in September 2016, under the Chairmanship of Secretary of Ministry of Industry and Commerce TMKB Thennakoon, tenders were called as per specified procedures and prices were decided.

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