Prices of local schoolbags and school shoes to be slashed

Manufacturers have expressed their agreement to reduce the prices of locally manufactured schoolbags and school shoes during a discussion held with the State Minister of Finance Ranjith Siyambalapitiya in the Finance Ministry.During the meeting held yesterday (April 25), State Minister Siyambalapitiya had pointed out that the commodity prices that increased relative to the depreciation of the Sri Lankan Rupee were not reduced back when the Rupee appreciated.
He had also stated to the manufacturers that if the prices of the aforesaid items are not reduced, the government will have to go for alternative options since the parents have faced a lot of hardships in view of the current situation.

Furthermore, Siyambalapitiya has requested the manufacturers to release their products to the market at the lowest possible price.

Accordingly, the manufacturers have expressed their agreement to slash the prices of local schoolbags and school shoes and that they will officially notify the percentage of the price revisions of the relevant products on May 23.