According to the Cabinet Spokesperson Minister Nalinda Jayatissa, the import must be completed by January 31, 2025. (Newswire)

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The Cabinet of Ministers has approved the importation of 3,000 metric tons of ginger by the State Trading Corporation of Sri Lanka stage-wise during the next 03 months.

The government states instructions were given at the Cabinet Meeting held in July 2024 to submit a report with the appropriate recommendations finding out the possibility of reducing the retail price of ginger to an affordable price for customers in the local market, facilitating the production of ginger.

The instructions were issued to the Secretary to the Ministry of Agriculture and Plantation Industry and to the Secretary to the Ministry of Trade, Commercial, and Food Security to submit the said report.

Based on the recommendations of the report, the Cabinet approved the joint proposal presented by the Ministers of Agriculture and Plantation Industry and Trade, Commercial, and Food Security to import the 3,000 metric tons of ginger during the next 03 months. (Newswire)

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Cabinet approval has been granted for the proposal to import eggs to stabilise prices in the local market and supply eggs required for the Ramadan and Christmas festivals. 

At a Cabinet meeting in March 2024, the Sri Lanka State Trading (General) Corporation informed that it had imported 224 million eggs so far. 

It was disclosed that 95% of the said imported eggs were distributed among the consumers at an affordable price of Rs. 37 per egg, while the duration given for the import of eggs ended in April 2024. 

As such, the Cabinet approved the proposal presented by the Minister of Trade, Commerce and Food Security to import the required stocks of eggs to enable the stabilization of egg prices in the market.

The proposal to import eggs has also been made in order to supply eggs required for Ramadan and Christmas festivals and stabilise the prices of cakes and bakery products. (Newswire)

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The Cabinet of Ministers has approved the submission of the Import and Export (Control) Regulations No. 7 of 2024 and the Standardization and Quality Control Regulations, both issued under the Import and Export (Control) Act No. 1 of 1969, for the approval of the Parliament.

The Import and Export (Control) Regulations No. 7 of 2024 introduces controlled import of motor vehicles for tourism purposes, following the temporary suspension on motor vehicle imports as per the Import and Export (Control) Regulations No. 2 of 2023.

On April 1, the Cabinet approved the import of 250 small buses and 750 vans for tourism, in line with a proposal by the Minister of Tourism and Lands. The approval was granted with a view to boost tourism sector activities in the country.

Additionally, the Cabinet has approved new regulations designed to promote efficient and safe trade transport while ensuring fair opportunities for both local and non-domestic products.

These regulations, published in an extraordinary gazette, are intended to facilitate a balanced and effective trade environment, the Government said.

The proposal for these new regulations was presented by the President in his capacity as the Minister of Finance, Economic Stabilization, and National Policies.

The regulations will soon be submitted to Parliament for approval, in the Government’s effort to strengthen the regulatory framework for imports and exports. (Newswire)

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The issuance of import control regulations to enable businesses approved by the Sri Lanka Board of Investment (BOI) to import selected spices for reprocessing and re-export has received a Cabinet nod. 

The Cabinet of Ministers has approved the proposal presented by the President in his capacity as the Minister of Finance to implement the following recommendations included in the report presented by the Ministries of Investment Promotions, Agriculture and Plantation Industries for this purpose. 

• Providing an opportunity to import selected spices for reprocessing and re-export to businesses approved by the Board of Investment under the procedure for the import and processing of selected spices and re-export the same in the form of oil extraction, oleoresin and residue. 
• Issuance of Import and Export (Control) Regulations under the provisions of the Import and Export (Control) Act No. 1 of 1969 for the above purpose.

The decision comes on the back of the instructions issued to the Secretaries to the Ministries of Investment Promotions, Agriculture and Plantation Industries during the Cabinet meeting held on 18.03.2024.

During the meeting, the Secretary to the Ministry of Finance informed the said ministry secretaries to review the Import and Export Control Regulations No. 3 of 2024 issued under the Import and Export (Control) Act No. 1 of 1969 and to submit a detailed report. (Newswire)

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The Cabinet of Ministers has granted approval to remove the requirement of obtaining import control license for the import of several agricultural commodities, including mung bean, black gram, cowpea, finger millet, peanuts and soy flour.

However, importers must submit a National Phytosanitary License issued by the National Plant Quarantine Service and adhere to measures recommended by the Ministry of Agriculture and Plantation Industries to protect local producers, the government said.

According to the new decision, as of June 1, 2024, the import of specific food grains and commodities classified under 126 Combined Classification Codes will no longer require an import control permit.

Additionally, the issuance of import control licenses for 53 combined classification codes has also been suspended.
Removing the need for an import control license for food grain imports is important to address illegal profiteering (Black Market), preventing unauthorized grain importation, avoiding unwarranted retail price increases, ensuring affordable prices for consumers, and protecting domestic producers through appropriate tax rates and quarantine protocols, the government said.

The government said that the decision was made based on the recommendations of a committee led by the Secretary to the President and comprising members such as the Governor of the Central Bank of Sri Lanka, the Secretary to the Treasury, and the Senior Economic Advisor to the President of Sri Lanka. (Newswire)

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The Cabinet has granted approval to lift the temporary ban imposed on the import of Black Gram to prevent a shortage in the market during the upcoming festival season.

According to the government, Sri Lanka’s annual Black Gram requirement is around 20,000 MT, but as the harvest reaches the market only during a certain period, there is a shortage of Black Gram in the market during the festive seasons of April and December each year. 

Therefore, measures are required to be taken to prevent the shortage of Black Grams in the market during the upcoming festival season and to control the increase in the price of the small grain. 

As such, the Cabinet of Ministers approved the proposal presented by the Minister of Agriculture and Plantation Industries to lift the temporary ban on the importation of Black Gram. 

Approval has been granted to import 2000 metric tons of Black Gram only through the State Trading (General) Corporation, the National Food Promotion Board and the Hadabima Authority of Sri Lanka subject to the Special Commodity Tax imposed by the Special Commodities Act No. 48 of 2007. (NewsWire)

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Cabinet approval has been granted for the importation of eggs based on the requirements of the upcoming festive season.

In December 2023, the Cabinet approved the import of eggs required until April 30, 2024, and to maintain the egg prices in the local market. 

Accordingly, around 18 million eggs have been imported by now and it has been calculated that approximately another 42 million eggs have to be imported in view of the festive season. 

Meanwhile, the Department of Animal Production and Health has also called quotations from recommended eligible Indian establishments to import the required amount of eggs. 

The Cabinet has therefore, approved the proposal presented by the President, as the Minister of Finance, to award the relevant procurement as per the recommendation of the Standing Procurement Committee appointed by the Cabinet of Ministers. (NewsWire)

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Under the current foreign exchange crisis, the import restrictions should be relaxed in a very planned and meticulous manner, Cabinet Spokesman Minister Bandula Gunawardena said today.

Addressing the post-Cabinet media briefing, Minister Gunawardena said that he believes that, however, it will not be possible to import motor vehicles etc. for some time.

He made the remarks while addressing the cabinet decision regarding the amendments to the currently imposed foreign exchange orders and the implementation of the phased removal plan of foreign exchange restrictions.

“I think that the Ministry of Finance took permission to present to the Parliament, which regulations will be relaxed. As I mentioned earlier, under the current foreign exchange crisis, the import control laws are being eased in stages, in a very planned and meticulous manner,” he said.

The minister further said that the relevant institutions including the Central Bank of Sri Lanka had informed the Parliament that restrictions would be eased in stages, based on which Cabinet approval was obtained in this regard.

Cabinet decision: 

Proposed amendments for foreign exchange orders already implemented for implementing the plan to lift the foreign exchange limitations step by step. 

Sri Lanka is bound to lift the administrative measurements taken step by step when the country’s balance of payments reaches a steady stance as per the International Monetary Fund report on Sri Lanka. 

Adhering to that, the recommendation of the governing board of the Central Bank of Sri Lanka is to implement the steps under the phase-wise plan of releasing foreign exchange limitations applicable to banning the conversion of Sri Lankan rupees to foreign exchange for certain mobile foreign exchange transactions. 

Accordingly, the Cabinet of Ministers approved the proposal furnished by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to publish the orders formulated as per the provisions of section 7 (1) of the Foreign Exchange Act No. 12 of 2017 and to forward the same to the Parliament thereafter for its concurrence. (NewsWire) 

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The Cabinet has approved the importation of vehicles for the Ministry of Ports, Shipping and Aviation, and the Ministry of Education.

The government has temporarily suspended the import of motor vehicles, except for construction vehicles and ambulances, as a measure to ease the pressure on the foreign exchange market. 

However, the Cabinet in December last year approved the requests submitted by the Ministries of Ports, Shipping and Aviation, and Education to the Ministry of Finance for the importation of vehicles.

Accordingly, Cabinet approval has been granted for the importation of the following vehicles;

• 3 ramp vehicles for Sri Lankan Airlines
• 3 mobile maternity units donated by the United Nations Population Fund 
• 21 double cab vehicles provided by the United Nations Children’s Fund
• A vehicle provided for the Korean Fund Project under the agreement reached between Sri Lanka and South Korea in establishing the work permit system.
• 2 buses for the Science and Technology Human Resources Development Project funded by the Asian Development Bank. (NewsWire)

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Sri Lanka reportedly imported some commonly grown food at a cost of US$ 295 million last year, Sri Lanka Podujana Peramuna (SLPP) MP Madura Vithanage revealed in Parliament yesterday (Nov 20).

Addressing the Parliament, MP Vithanage said the imports include some commonly grown food, such as taro roots (kiri Ala), garlic, potatoes, tomato, papaw, watermelon, long beans, pineapple etc.

He pointed out that the imports have been made at a time when Sri Lanka expects a loan of US$ 300 million from the International Monetary Fund (IMF).

Stating that ministers must carry out their duty in their respective ministries with the funds allocated from the budget, the MP said it is pointless creating an economy that imports such commonly grown food items. (NewsWire)

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Opposition Leader MP Sajith Premadasa has called for an inquiry into the distribution of substandard fuel from an oil tanker that had arrived from Singapore recently.

Addressing the Parliament today (Nov 07), MP Premadasa said that ‘FOS Power’, an oil tanker with 40,000 metric tonnes of diesel is currently berthed at the Colombo Port after having arrived from Singapore on November 05.

MP Premadasa alleged that despite two laboratory reports having determined that the diesel was of inferior quality, measures are being taken to distribute the substandard fuel from Kollonawa to the public.

Stating that the quality check had been requested by the Lanka Indian Oil Company (LIOC), the MP said sample checks were conducted on November 05 and 06 after which it was proven that the stock of fuel was of substandard quality. 

The Leader of the Opposition said that the decision to distribute despite the confirmation of such inferiority is a serious matter and this can be proven with evidence.

Claiming it to be a corrupt transaction, MP Premadasa requested that the Prime Minister take the initiative to conduct an investigation and reveal the true information.

Responding to the claims, Minister of Power and Energy Kanchana Wijesekera refuted the allegations, stating that substandard fuel has not been distributed to the public. 

Addressing the Parliament, Minister Wijesekera clarified that a factually incorrect report had been published by local media. 

“The LIOC had imported a stock of 92 Octane Petrol and Auto Diesel last night. After quality checks, the 92 Octane Petrol was unloaded while the Auto Diesel stock remained unloaded and quality checks commenced over doubt,” the minister said, providing further clarifications.

Minister Wijesekera revealed that if quality checks done by the Ceylon Petroleum Storage Terminals Limited (CPSTL) find the fuel stocks to be substandard they are not unloaded but are returned, adding that as per standard procedure, only fuel stocks that pass the necessary quality checks are unloaded. (NewsWire)

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The government granted approval for the importation of 6900 vehicles used for special purposes despite the current ban on the import of vehicles in Sri Lanka, State Minister of Finance Ranjith Siyambalapitiya stated.

The State Minister revealed that among the imported vehicles, 3000 are for the Sri Lanka Police Department, adding that they consist of jeeps and three-wheelers.

Stating that the government is taking measures to gradually ease the import ban on vehicles, he pointed out that the ban on importing vehicle spare parts has been completely lifted.

State Minister Siyambalapitiya made the comments in response to allegations surrounding a case filed by the Bribery Commission claiming that over 5,000 vehicles had been imported despite an import ban on vehicles in Sri Lanka. 

The State Minister of Finance responded to the allegations while speaking to reporters in Yatiyanthota on Wednesday (Aug. 30). (NewsWire)

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The Government has decided to relax import restrictions imposed on certain vehicles used for public transportation.

State Minister of Finance Ranjith Siyambalapitiya stated that import restrictions will be relaxed on the imports of lorries, trucks, and buses utilized for public transportation purposes.

He further stated that a Gazette is being prepared in this regard and is expected to be issued this week.

However, the State Minister of Finance said that financial analysts say the imports of other vehicles will be further delayed considering the current foreign exchange reserves.

They also emphasized that the value of the dollar can rise again through the increase in vehicle imports, he added.

State Minister of Finance Ranjith Siyambalapitiya made the remarks while speaking to the media. (NewsWire)

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The government has decided to extend the time period used for the calculation of foreign remittances on the basis that Sri Lankan migrant workers are issued permits to import electric vehicles.

As per the latest Cabinet decision, the time period for the calculation of foreign remittances to permit Sri Lankan migrant workers to import electric vehicles has been extended to September 15, 2023.

During an earlier Cabinet meeting, approval was given to allow Sri Lankan migrant workers to obtain permits to import electric vehicles based on their foreign remittances sent via legal channels.

As per the Cabinet decision, the foreign remittances contribution was to be calculated from May 1, 2022, to December 31, 2022.

However, it has been identified that the said period was not sufficient for Sri Lankan migrant workers to import electric vehicles of their choice.

Thereby, a proposal was made by Minister of Foreign Employment Manusha Nanayakkara to extend the foreign remittances calculation period from May 1, 2022, to September 15, 2023, which received Cabinet approval. (NewsWire)

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