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Dec 07, 2017

Palm oil importers write to finance minister! Featured

Refined palm oil importers have written to finance minister Mangala Samaraweera, asking that the customs duty on palm oil imports, revised through budget 2018, be not changed again.

Thanking the minister for bringing down the duty, their association says in the letter that there is a plan to revise it again without the minister’s knowledge.

It believes the two main importers who enjoyed special concessions during the previous regime, could be behind it.

The 2018 budget proposes to reduce the duty on refined palm oil from Rs. 135 per kilo to Rs. 110 and on crude palm oil from Rs. 115 to Rs. 105.

The association claims the plan is to raise the duties to the previous levels.

It says the income lost to the country will be much higher than their own loss.

The letter is given below:

PalmOile Letter

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