BIZ

Only $200 mn. in LCs have been opened for vehicle imports – CBSL Governor

Published

6 days ago

March 27, 2025

editor

Governor of the Central Bank of Sri Lanka (CBSL) – Dr. Nandalal Weerasinghe has said that only around USD 200 million worth of Letters of Credit (LCs) have been opened so far for vehicle imports.

Speaking at the CBSL’s Monetary Policy briefing yesterday (March 26), the Governor announced the decisions of the Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) made at the board’s meeting held March 25th for the second monetary policy review.

The Governor further said this year’s economic growth will depend on policies implemented within the year, mainly fiscal and structural policies.

He further mentioned that the Central Bank had anticipated managing around USD 1 billion for vehicle imports this year without difficulty.

However, as there are still about nine months remaining in the year, he stated that this amount is expected to be spent over that period.

Dr. Weerasinghe, who further clarified that the negative inflation is temporary, noted that it is mainly due to repeated reductions in electricity tariffs.

Deflationary conditions are expected to gradually ease in the third quarter of this year, moving toward the targeted level, he added.

BIZ

Milco slashes prices of fresh milk & yoghurt

Published

7 hours ago

April 1, 2025

editor

Milco (Pvt) Ltd has announced a price reduction on Highland yogurt and fresh milk products, effective today (April 01), to provide relief to consumers.

Accordingly to new prices are :
Highland yogurt: Reduced from Rs. 80 to Rs. 70 (by Rs. 10)

450ml long-life liquid milk : Reduced from Rs. 225 to Rs. 200 (by Rs. 25)

450ml fresh milk pack : Reduced from Rs. 200 to Rs.170 (by Rs. 30)

BIZ

Milk tea price upped

Published

13 hours ago

April 1, 2025

editor

The price of a cup of milk tea has been increased by Rs.10 from midnight yesterday (March 31).

The All-Island Canteen and Restaurant Owners’ Association announces that the decision has been taken as a result of the government’s decision to increase the price of imported milk powder.

On March 18, milk powders importers decided to increase the prices of milk powder products by 4.7% from April 01 onwards.

Accordingly, the price of a 400g packet of imported milk powder is expected to increase by around Rs.50.

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