Sri Lankan Trade Ministry draws flak over allegations of new licence raj mafia in salt

COLOMBO,  May 25 : In the backdrop of the import restrictions and price controls that triggered shortages of red rice, Sri Lanka’s Trade Ministry is now drawing flak over the creation of a new ‘mafia’ in salt, a leading news portal of the island nation said.

Sri Lanka’s so-called ‘rice mafia’ and ‘maize mafia’ are crony Mercantilists or rent seekers in economic terms, who are allowed to exploit consumers under cover of 1970s style import licences, EconomyNext reported. Food, being an essential item, is one of the easiest ways that businesses close to the elected rulers can extract extra profits or ‘rents’ from the consumers…..| read more on Dailyexcelsior.com