Connect with us

BIZ

No shortage of eggs ; won’t allow price hike – Minister

Published

on

Minister of Trade Nalin Fernando says that immediate legal action will be taken against the individuals who are hoarding egg stocks.

The minister pointed out that there is no shortage of eggs in the country, but some people are trying to portray that there is a shortage of eggs.

In the last few days, the Consumer Affairs Authority (CAA) had conducted raids in search of traders who were selling eggs at rates higher than the controlled price. In contrast, steps were taken to produce several traders who sold eggs at higher prices before courts and were also fined.

However, Ada Derana correspondents reported that eggs are not being sold within several parts of the island.

Meanwhile, the President of the All Ceylon Egg Producers’ Association, Sarath Ratnayake mentioned that it is problematic to sell eggs at the government’s controlled prices in view of the current market situation.

Further, he emphasized that if the price of Rs. 55 is given per egg, the shortage of eggs in the market can be avoided.

When inquired by “Ada Derana” in this regard, Minister of Trade, Nalin Fernando expressed that the government will not grant permission to raise the price of eggs.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

BIZ

No new tax on small parcel imports – Customs

Published

on

By

Sri Lanka Customs has refuted social media claims alleging the imposition of a new tax on small parcel imports.

Addressing the media, Customs Media Spokesman and Additional Director Seevali Arukgoda emphasized that no new taxes have been introduced, nor are there any disruptions to the clearance of imported goods.

“We are not increasing tax rates… we are simply ensuring duties are calculated correctly,” he said. “The previous system allowed for significant undervaluation and misuse. Now, we are enforcing the existing laws more transparently.”

He explained that duties are now calculated using the globally accepted Harmonized System (HS) Code, which categorizes goods by type and value, replacing the older method of relying on parcel weight or flat rates that were often exploited.

Arukgoda further assured that no parcels are being withheld and reiterated that rates remain consistent with those approved by Parliament. The changes, he said, were implemented after adequate notice was given to courier services and importers — including a 1.5-month notice period and a 2-week transition phase.

He also noted that there is no requirement for recipients of online orders to visit Customs in person. Courier companies continue to handle delivery and clearance, he added.

Continue Reading

BIZ

Starlink now available in Sri Lanka – Elon Musk

Published

on

By

Billionaire businessman Elon Musk has announced that the Starlinksatellite internet service is now available in Sri Lanka.

“Starlink now available in Sri Lanka!” Elon Musk said in a post on ‘X’.

Continue Reading

BIZ

End of parate relief for large SMEs

Published

on

By

The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando  has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved