State Minister of Finance Ranjith Siyambalapitiya says he will intervene to resolve issues pertaining to the issuance of Letters of Credit (LoC) for the importation of buses utilized for public transportation and lorries and trucks required for special purposes on which import restrictions were eased recently.
The State Minister said he is ready to work towards resolving the issue related to the international recognition of Sri Lanka’s Letters of Credit.
State Minister Siyambalapitiya made the remarks during a discussion with vehicle importers.
Vehicle importers have pointed out that Sri Lanka’s Letters of Credit are not being recognized internationally due to the various measures that were taken earlier to mitigate the economic crisis.
They further stated that even though the government had eased import restrictions on certain vehicles recently, issues have cropped up while attempting to import the vehicles.
Responding to the concerns, State Minister Ranjith Siyambalapitiya assured that a discussion will be held with the Central Bank of Sri Lanka and other relevant institutions to resolve the issues.
The State Minister added that they will look into the possibility of issuing government guarantees for the relevant Letters of Credit. (NewsWire)