The Price of kilogram of wheat flour was reduced by Rs 12.50 and according to the Minister of Finance - Ravi Karunanayake, prices of bakery products will be reduced accordingly.

The price of a 400g-milk powder pack was reduced to Rs. 325.

The price of a kilogram of sugar was reduced by Rs.10.

Taxes imposed on canned fish, sprats, Maldive fish as well as green gram were also reduced.

Meanwhile, a litre of kerosene was further reduced by Rs.6.

The price of a 12.5kg cylinder of LP gas was also reduced by Rs.300 with effect from midnight tonight.

The minister also announced that the tax imposed on cement would be reduce by 7.5% and would be reflected in the prices with a Rs. 90 drop.

Granting concessions to the commuters using public transport the Minister of Finance announced that bus fares would decrease by at least 10% and that elders will be eligible for a special bus fare.