Steps taken to reduce price of beverages

The Finance Ministry has decided to reduce taxes imposed on sugar used in brewery resulting in a 30 per cent reduction in beverage prices.

Accordingly 6 grammes of sugar used in carbonated drinks and 9 grammes for fruit drinks are exempt from taxes while 50 cents of tax levied on one gramme of sugar used in fruit drinks will be reduced to 30 cents.

The Ministry has taken this decision on the instruction of Prime Minister Mahinda Rajapaksa after consultations with the National Economic Commission (NEC), a statement from the Prime Minister’s office said.

These tax reliefs were

These tax reliefs were revealed at a meeting PM held with the owners of beverage and biscuits industries yesterday at the PM’S office

revealed at a meeting PM held with the owners of beverage and biscuits industries yesterday at the PM’S office.

Minister of International Trade Affairs and Investment Promotion Bandula Gunawardena said this decision will also provide relief to raw material suppliers in addition to biscuits and beverages industries.