Oct 16, 2018

Customs levy on sugar to be brought down? Featured

EXCLUSIVE - At its meeting today (16), the cost of living committee discussed bringing down the Customs levy on imported sugar by Rs. 15 per kilo, reports say.

Most importers say they could reduce the local prices if there is a decrease in the Customs levy.

However, Palliyagoda Trading and Wilson Trading want the Customs levy to remain, but the control price increased.

The Finance Ministry on September 17 removed the Rs. 31 special commodity levy on sugar imports and introduced a new tax.

At that time, Palliyagoda Trading and Wilson Trading, together with Pyramid Wilma, welcomed the increase of a Customs levy.

That is because they had a bumper stock of sugar imported at the old Customs levy rate.

They even told the media that they had stocks adequate for one month.

Although the government has imposed a Rs. 100 control price for white sugar, Palliyagoda Trading and Wilson Trading submitted bids today to supply to the CWE at prices exceeding that figure.

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