A new gazette issued by Finance, Planning and Economic Development Minister Anura Kumara Dissanayake has introduced fresh conditions for releasing vehicles detained by Sri Lanka Customs.
The regulation, effective from October 24, allows the release of vehicles imported under cross-border letters of credit, where the LC was opened in a country other than the vehicle’s manufacturing origin.
Hundreds of vehicles have remained stuck at the ports since May after Customs halted clearance citing violations of the Imports and Exports Control Act. The new gazette provides a window for importers to release such vehicles under specified conditions related to documentation and registration. (Newswire)
