Salt Trading fined Rs300,000 for failing to disclose sugar stock details

The Department of Commerce, Supplies and Consumer Protection has fined state-owned Salt Trading Corporation Limited Rs300,000.

The department said the action was taken after the corporation failed to submit clear records of sugar purchases, sales and stock.

Following continuous complaints from consumers, a department team inspected the corporation's documents and records over two days.

The department said details of the price at which sugar was purchased, how much was sold and how much remains in stock were found to be opaque.

Despite repeated requests from the team, the corporation failed to provide the necessary documents.

The action comes at a time when there have been growing complaints of artificial shortages and price hikes of sugar in the market.

The department ruled the conduct an unfair trade practice under Section 38(e) of the Consumer Protection Act, 2075.

It has directed the corporation to deposit the fine under revenue heading number 14312 within seven days and submit the second copy of the bank voucher to the department.

The department said this is the first time the government has taken such action against an entity under its own ownership, in line with the Ministry of Industry, Commerce and Supplies' zero-tolerance policy.