COPF summons CBSL Governor, Treasury Secretary to discuss way forward

Saturday, 21 May 2022 01:25 - - {{hitsCtrl.values.hits}}

Officials to be summoned next week to discuss on current situation and solutions
Committee approves regulations to control license requirements for importation of 369 non-essential items

COPF Chairman and MP Anura Priyadharshana Yapa

The Committee on Public Finance (COPF) yesterday decided to summon the Central Bank Governor, the Secretary to the Ministry of Finance and other officials.

The decision was taken when the Committee met under the Chairmanship of MP Anura Priyadharshana Yapa.

The Committee met to discuss regulations that were enacted under the Import and Export (Control) Act to impose import control license requirements for the importation of 369 non-essential items.

These regulations will be applicable to the importation of goods which have the shipped-on-board date of bill of Lading/Airway Bill on or after 10 April 2022.

It was revealed that the cost of importing goods belonging to the categories of Watches, Telecommunication equipment and parts, Dairy products, Alcohol, Beauty products, Candles, Lamps and lighting accessories, Fruits, Rubber products (tires and erasers), Electrical and electronic items was higher and that this is 84% of the total import cost.

Accordingly, it is expected to save a considerable amount of about $ 512 million spent on the importation of these goods during the last three years without hindering industries and exports.

Minister Kanchana Wijesekera, MPs Indika Anuruddha, Harsha de Silva, Mujibur Rahuman, Isuru Dodangoda, Nalin Fernando, Ranjith Bandara, Suren Raghavan and officials of Department of imports and exports control were also present at the meeting.

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