The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.
The proposed extension is a result of ongoing negotiations between the co-legislators of the European Union regarding the new GSP+ arrangement, the Delegation of European Union to Sri Lanka said.
The extension of the tariff facility will grant Sri Lanka continued access to the EU markets with the same obligations under 27 international conventions, it added.
🧵-1/3: Did you know that the current GSP+ scheme is set to expire on 31 Dec 2023?
As one of Sri Lanka’s largest trading partners, w/ nearly EUR 3.2 billion worth of Sri Lankan #exports to the 🇪🇺 in 2022 alone, we recognise the importance of GSP+ for Sri Lankan exporters.
2/3: As negotiations for our new GSP+ arrangement are still ongoing between the EU’s co-legislators, the European Commission has proposed a 4⃣-year extension to the current scheme until 31 Dec 2027 so that countries like 🇱🇰, don't lose their #preferential access in the interim.
3/3: For 🇱🇰, the GSP+ extension proposal means that, for now, nothing changes – same access to 🇪🇺 market and same obligation to comply with the 2⃣7⃣ international conventions, which are key to ensuring that #economicrecovery is not just fast, but also #fair, #just, and #green.
The National Transport Commission (NTC) has said that an investigation into the recent incident where a student fell from the footboard of a ‘Sisu Sariya’ school bus, has revealed that the accident had resulted from the careless and negligent behaviour of both the driver and the conductor.
Issuing a statement, the NTC noted that, based on the preliminary findings, the Road Passenger Transport Authority of the North Western Province has taken steps to temporarily suspend the services of the driver and conductor involved.
Minister of Agriculture, Livestock, Land and Irrigation – K.D. Lal Kantha has announced that the government has decided to import 300,000 MT of maize.
Speaking to the media after attending a District Development Committee meeting at the Kandy District Secretariat yesterday (July 03), the Minister explained that this decision was taken to prevent traders from artificially inflating maize prices.
He stated that certain large and medium-scale businesses dealing with animal feed have been hoarding maize, buying it from farmers at fair prices and reselling it at much higher rates.
According to the Minister, these traders were trying to push maize prices up to Rs.190-200 per kilogram, which would have driven up the cost of eggs to Rs.200 each and increased meat prices significantly.
The Minister emphasized that while businesses are entitled to make a profit, the government will not allow unfair price manipulation. He also noted that, in the past, even ministers profited from animal products, but those days have ended and racketeers will not be allowed to control the market.
To prevent excessive price drops that could hurt farmers, the Food Security Committee has proposed imposing a tax on imported maize, he said.
