Minister Bandula Gunawardena's conduct has come under severe fire at the parliamentary group meeting of the ruling party.
A number of MPs, including senior Cabinet ministers, have asserted that the cost of living must be reduced ahead of the Sinhala-Tamil new year.
Informed government sources said it was Foreign Minister Dinesh Gunawardena who came to the rescue of Bandula Gunawardena and eased the tension at the meeting.
Those who criticised the conduct of Gunawardena have pointed out that the public can no longer be pacified with "economic theories" and they need tangible benefits.
It is reported that Agriculture Minister Mahindananda Aluthgamage has blamed Bandula Gunawardena for the rising cost of living while pointing out that reducing the prices of consumer items is the duty of the Trade Minister.
State Minister Nimal Lanza has reportedly stated that Gunawardena's grand statements on bringing down cost of living have not been implemented at the ground level.