The prices of schoolbags and shoes have been slashed by 10%, manufacturers told Finance State Minister Ranjith Siyambalapitiya yesterday (July 27).

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This was conveyed during a discussion held at the Finance Ministry.

The price reduction comes after multiple rounds of lengthy talks between the state minister and the manufacturers.

The manufacturers further told the lawmaker that they intend to sell the existing stocks of schoolbags and shoes in the market at revised rates.