However, gold traders in seas street point out that there was a wrong impression among the public that gold prices have increased.
A member of the Gold Traders Association stated that even though the surcharge imposed on gold imports has been removed, there will be no change in gold prices.
Meanwhile, the government has also amended the SES tax on imports with the intention of promoting local production.
Accordingly, Tax Advisor of KPMG Suresh Perera stated that there could be an increase in prices of certain goods.
In the meantime Chairman of the Vehicle Importers Association Mahinda Satharasinghe stated that prices of new vehicles would also increase.