BIZ

Sales tax on 63 essential items unchanged

Published

5 months ago

January 2, 2025

editor

A gazette notification was issued on December 31, 2024, to maintain the existing import duty on 63 selected items, including essential food items, without any revisions, the Ministry of Finance, Planning and Economic Development announced.

The Ministry said that continuing the existing duty rates aims to prevent price increases for goods by maintaining the current rates on items such as dhal, white sugar, potatoes, big onions, red onions, coconut oil, vegetable oil, canned fish and dried chilies.

Additionally, the Ministry noted that the tax rates on food items like rice, millet, green gram, maize, turmeric, fruits, fish and dried fish were also retained. This measure is intended to protect the local agriculture and fisheries industries.

(dailymirror.lk)

(This story, originally published by dailymirror.lk has not been edited by SLM staff)

BIZ

1st stock of imported coconut milk to undergo clearance, lab testing today

Published

1 day ago

May 31, 2025

editor

The first consignment of imported coconut milk under the Government’s raw material importation programme is scheduled to undergo clearance and laboratory testing today (31), as part of a coordinated initiative by the Plantation Industries Ministry.

This initiative, approved by the Cabinet, aims to supply essential raw materials to industries linked to the coconut sector, aiming to reduce domestic coconut prices and support local manufacturers. The consignment currently under clearance includes products equivalent to 200 million coconuts. They are in the forms of frozen coconut milk, coconut milk powder and chunked coconut with testa (non-copra), imported as part of the programme initiated in March 2025. The stock will be used primarily in the coconut milk powder industry, which has been facing raw material shortages. The Plantation Industries Ministry expects this move to reduce the pressure on local coconut supplies and contribute to a drop in retail coconut prices.

(dailynews.lk)

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

BIZ

BoC employees to strike over unpaid incentives

Published

3 days ago

May 29, 2025

editor

Employees of all Bank of Ceylon (BoC) branches have decided to walk out of service at 12.30 pm today (May 29).

The decision has been taken over the current management not taking the initiative to provide them with the 06-month incentive package approved by the Board of Directors, according to the Bank Employees’ Union.

Central Committee member of the Bank Employees’ Union – Najith Wijeratne, stated that they will initiate a token strike if this issue is not resolved by June 06.

BoC employees have also held lunchtime protests yesterday (May 28) in front of 22 branches in major cities islandwide.

BIZ

Imported salt released to market

Published

3 days ago

May 29, 2025

editor

The National Salt Ltd. says that 2,800 MT of salt imported from India have been released to the market.

It says the food-grade salt stock, which arrived on May 23, is being distributed to the market through local salt sales agents for consumer sale.

The Ministry of Industry and Entrepreneurship Development states that Lanka Salt Ltd. is importing 10,000 MT of salt, while over 100 importers, including those from Pettah, are bringing in an additional 100,000 MT.