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CAA to investigate unfair price increases for construction materials

Colombo (No. 1 in News); Trade, Commerce and Food Security Minister Nalin Fernando says construction companies and raw material producers have been summoned to the Consumer Affairs Agency for unfairly raising prices.

The minister said attention was being paid to construction companies that have skyrocketed prices without regulation.

He noted that over the past few months, there have been numerous complaints claiming prices for cement, wire, sand, and other construction materials have risen.

But while acknowledging that the foreign exchange crisis has hampered imports of construction materials, Fernando said the companies had been subpoenaed before the CAA and asked if prices had risen unreasonably.

The minister said that price control measures may have to be implemented if it turns out that prices have been unreasonably increased.

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https://www.newsfirst.lk/2022/08/13/caa-to-probe-unfair-price-hikes-of-construction-material/ CAA to investigate unfair price increases for construction materials

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