President Anura Kumara Dissanayake has stressed that in a small market such as Sri Lanka, the prices of goods and services cannot be expected to be regulated solely through market competition.
The President said the Government must establish a strong price regulation mechanism by further strengthening Lanka Sathosa and the cooperative movement and using them as key players in the market.
He made the remarks today (14) during a meeting at the Presidential Secretariat to review the progress of projects implemented under the 2026 Budget allocations for the Ministry of Trade, Commerce, Food Security and Cooperative Development and discuss the Ministry’s 2027 pre-Budget proposals.
The meeting included a comprehensive review of programmes implemented by 16 departments, self-financing institutions and institutions operating with Treasury allocations under the Ministry, with a focus on food security and consumer protection.
The President was informed that a programme is underway to provide farmers with mechanical dryers on concessionary terms for drying paddy and other grains. Arrangements have been made to import 45 dryers, which will be provided to 45 selected institutions from among 65 applicants.
Progress was also reviewed on the establishment of nine wholesale distribution centres covering all nine provinces. Construction of the centres in Kurunegala and Matara has already been completed.
The President also reviewed the establishment of rural-level rice processing centres under a Rs. 1 billion allocation in the 2026 Budget, as well as the construction of the potato purchasing centre in Nuwara Eliya and the grain legume processing centre in Monaragala.
He stressed the need to introduce new programmes to support big onion and maize farmers.
The roles and performance of departments and institutions under the Ministry were reviewed individually, with discussions focusing on institutional challenges and measures required to address them.
The meeting was also informed that 34 new Production Cooperative Societies have been registered under a Department of Cooperative Development programme targeting young people, aimed at increasing youth participation in the cooperative sector.
Discussions also focused on strengthening the Cooperative Wholesale Establishment, Lanka Sathosa and the cooperative movement to increase competition in the market and provide consumers with better-quality services.
There are approximately 2,100 cooperative outlets across the country, including Co-op Mega City and Co-op City outlets. The meeting discussed measures to increase their market share and address challenges facing the sector.
The Government is also drafting legislation to address management deficiencies identified within the cooperative sector.
The President reviewed the operations of Sri Lanka Thriposha Limited, which has recently received considerable public attention. It was noted that Rs. 5 billion has been allocated to the company under the 2026 Budget and that its operations are being maintained around the clock.
Arrangements are being made to distribute Thriposha to all Medical Officer of Health offices and transport the products to the relevant locations. The company has also obtained internationally recognised ISO certification to ensure food safety and quality.
The meeting discussed issues relating to the sourcing of raw materials, storage, procurement and employees, as well as measures to further improve the quality of Thriposha products to ensure they meet required standards for children between six months and three years of age.
The activities of the Department of the Registrar of Companies were also reviewed. Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma instructed officials to submit proposals to resolve issues affecting the department and introduce necessary legal reforms.
President Dissanayake instructed officials to expedite the processing of approximately 3,000 pending company registration applications to eliminate delays in the registration process.
The 2026 performance of the Department of Commerce was also reviewed. It was noted that representatives from 33 countries are involved in the department’s activities through their respective embassies and high commissions.
President Dissanayake stressed that gaining access to international markets must be a key priority as Sri Lanka works towards its future economic targets. He said Commercial Officers should focus on identifying new international markets and increasing export targets.
He also highlighted the importance of market research and closer cooperation with institutions such as Chambers of Commerce to obtain and share relevant market intelligence.
The President said the Department of Commerce has an important role in strengthening the economy by expanding into emerging and growing markets and called for proactive measures to achieve this objective.
Special attention was also given to the activities of the Consumer Affairs Authority. The President was informed that special inspections had been conducted at restaurants serving long-distance bus passengers and restaurants operating within private hospitals.
Noting that the public frequently raises concerns over food and beverage standards and price regulation, President Dissanayake stressed the need for the Consumer Affairs Authority to take proactive measures in these areas.
The meeting was also informed that intervention by the Consumer Affairs Authority had reduced the use of polythene from 26 million units to 16 million units, with plans to further reduce usage by promoting alternatives.
Further discussions focused on streamlining the laboratory accreditation process in Sri Lanka and developing a comprehensive programme for this purpose.
The construction of Economic Centres in Bandarawela and Matale, proposed under the 2027 Budget allocations, and the activities of the Cooperative Village in Tharapuram, Mannar, were also discussed.
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