Trade Unions of the Department of Excise have opposed the appointment of M.B.N.A. Premarathne, a retired Commodore of the Sri Lanka Navy, as the new Commissioner General of Excise.

TUs say that for the first time in the history of the Excise Department, a Commissioner General has been appointed from outside despite the existence of 03 senior, qualified officials within the department.

On July 06, the department’s TUs have directed a letter to President Anura Kumara Disanayake. urging to appoint an officer from the department to the post.

According to reports, Commodore (Retd.) Premarathne is said to be the husband of NPP National List nominee for the 2024 General Election – Prof. Wasantha Subasinghe. He is also said to be hailing from the President’s hometown of Thambutthegama.

The post of Excise Commissioner General fell vacant after Udaya Kumara Perera retired from public service today (July 10) upon reaching the age of 60.

On July 07, Cabinet approval was granted to appoint Commodore (Retd.) Premarathne to the post.

The proposal was presented by President Anura Kumara Dissanayake, in his capacity as Minister of Finance, Planning and Economic Development.

(Source : Lankadeepa)

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The Ceylon Chamber of Commerce (CCC) says the reduction in the tariff rate from 44% to 30% is a constructive and important first step by the Government toward bringing Sri Lanka’s tariff structure for exports to the US closer to that of regional competitors.

“We encourage continued engagement with the U.S. administration to secure a further reduction by 1 August, especially given that several regional peers are expected to benefit from even lower rates,” it said, in a statement.

The CCC further said that progress in achieving a further reduction will be critical to strengthening Sri Lanka’s position in this key market, maintaining buyer confidence, and supporting sustained trade growth over the long term.

“The Ceylon Chamber stands ready to support the Government’s efforts in this regard through constructive dialogue, industry feedback, and coordinated advocacy,” the statement adds.

Sri Lanka will continue discussions with the United States on the 30% trade tariff, Secretary to the Ministry of Finance – Dr. Harshana Suriyapperuma has said.

Speaking at a media briefing held this morning (July 10), he also urged not to view this situation in isolation, as the whole world faces these tariffs.

Meanwhile, Central Bank Governor Dr. Nandalal Weerasinghe stated during the press briefing that Sri Lanka has secured a reduction in the proposed US tariff rate from 44% to 30% following recent discussions.

He added that this placed the island nation in a relatively advantageous position compared to other nations in the region.

Clarifying on how the tax will be added, Senior Economic Advisor to the President, Duminda Hulangamuwa said that reciprocal 30% tariff proposed by the US President Donald Trump yesterday (09), will be in addition to the existing duties imposed on products exported from Sri Lanka to the US.

Therefore, Sri Lanka will continue to hold discussions with authorities in the US and a meeting is scheduled for next week with the Office of the United States Trade Representative in a bid to further reduce the tariffs proposed by the US President, he added.

Hulangamuwa is also of the view that the apparel sector will be impacted the most, although Sri Lanka is exporting to a niche market in comparison to market competitors – Bangladesh, India and Vietnam.