Sri Lanka President calls for stronger co-operative network and price regulation

President Anura Kumara Dissanayake has called for the strengthening of Sri Lanka’s co-operative movement and the implementation of more robust price regulation mechanisms. Speaking at a meeting in Colombo to review budget allocations for the Ministry of Trade, Commerce, Food Security and Co-operative Development, the President argued that market competition alone is insufficient to regulate the prices of goods and services within Sri Lanka’s small economy.

Dissanayake emphasized that the co-operative movement, including Lanka Sathosa, must be transformed into a well-organized network that acts as a counterbalance to private market forces to protect consumers. The government aims to reposition these co-operatives as dynamic economic institutions to ensure equitable access to essential commodities and stabilize prices.

The meeting also reviewed several agricultural and infrastructure projects, including the establishment of nine provincial wholesale distribution centres and a Rs. 1 billion initiative to create rural-level rice processing centres. Additionally, efforts are underway to provide farmers with mechanical dryers at concessionary rates and to support producers of big onions, maize, and legumes through new processing and purchasing centres.