The prices of domestic electrical wiring cables will be reduced by 11% from today.
The prices of electrical wiring cables increased recently due to the rise in prices of copper in the international market.
However, an agreement has been reached to reduce the prices of domestic electrical wiring cables after several rounds of discussions were held between local producers and the State Ministry of Cooperative Services, Marketing Development and Consumer Protection.
State Minister Lasantha Alagiyawanna said, according to the Consumer Affairs Authority, copper, the main raw material for electrical wiring cables, is being imported and the price of domestic electrical wires has been on the rise in recent weeks due to an increase of the price from US$ 5,000 to US$ 11,000 per metric tonne.
State Minister Alagiyawanna pointed out that despite the increase, the government is unwilling to impose the burden on the public.
He therefore said discussions were held with relevant companies to reduce prices.
He said accordingly, the price of the 1-13 100mm wires which was Rs.3,700 will be reduced to Rs.3,495 from today while the 7-0-53 100mm cables which were priced at Rs.7,500 will be sold at Rs.6,750 from today.