Sri Lanka, June 30 -- A fine of up to Rs. 5 million will be imposed on traders selling rice above the government's gazetted maximum retail price, the Consumer Affairs Authority (CAA) warned.

Issuing a statement, the CAA said that legal action will be strictly enforced against those violating the pricing regulations.

Private limited companies and corporate bodies that overprice rice will be fined between Rs. 500,000 and Rs. 5 million.

Sole proprietorships could face fines ranging from Rs. 100,000 to Rs. 500,000, six months' imprisonment, or both.

Furthermore, the authority has urged the public to report traders who sell rice above the maximum retail price by calling its hotline 1977.

According to the latest pricing structure, the ma...