BBC:
Authorities say they will take control of the supply of basic food items, including rice and sugar and set prices in an attempt to control rising inflation.
The Sri Lankan rupee has fallen by 7.5 percent against the US dollar this year.
The wide-ranging emergency measures came into effect on Tuesday.
A former army general has been appointed by the government as the commissioner of essential services, with the power to seize stocks held by traders and retailers.
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