Colombo: The Sri Lankan government on Friday reduced the retail price of cooking gas and import tariffs of several commodities, as the country reels under high inflationary pressures.

In June, point-to-point inflation rose to 9.2 percent from seven percent in May.

The country's Finance Ministry said the decision comes after a directive by President Mahinda Rajapaksa with the aim to reduce the high cost of living.

Import tariffs of several essential consumer commodities such as potato, onions and tinned fish have been reduced with effect from midnight on Friday.

The government in the recent months faced criticism for its inability to curb high cost of living.

On Friday's decision to cause price reductions analysts feel was due to concerns arising from mid term polls for three provincial councils scheduled for early September.


Latest News from Business News Desk