State Minister of Finance Ranjith Siyambalapitiya has stated that the manufacturers have agreed to reduce prices of locally-manufactured schoolbags and school shoes with effect from July 15.

Accordingly, the prices of locally-manufactured schoolbags and school shoes will be reduced by 10%, which will see a price drop of Rs. 350 – Rs. 450, the State Minister said.

The price slash comes in response to a request made by the minister to provide the benefit of the price drop of the raw materials relative to the appreciation of the Sri Lankan Rupee.