The local schoolbag and shoe manufacturers have agreed to reduce their prices by 10% beginning from July 15, Finance State Minister Ranjith Siyambalapitiya said.
Following a request made by the minister, the local manufacturers have decided to provide concessions after the depreciation of US dollar.
The manufacturers have taken the decision following discussions with them on April 25.
Accordingly, the price of a schoolbag and a pair of shoes will be reduced from Rs. 350 to Rs. 450.