ECONOMYNEXT – Sri Lanka’s cabinet has made the purchase of brown sugar mandatory to the state agencies like the military, police, hospital and prison systems to help sell the products of state-run Lanka Sugar Limited, spokesman Nalinda Jayatissa said. Lanka Sugar was made with Sevenagala and Pelwatte sugar expropriated from private investor including stock market investors by the ousted Rajapaksa regime. Unsold brown sugar had been piling up at the factories not only due to high production costs compared to Brazil but also due to value added tax. White sugar is under a special commodity levy and not subject to…
Sri Lanka to spread sugar SOE losses to health, prisons, military
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