Posted on June, 5, 2024 at 08:54 am
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.
Source: Newswire