Connect with us

News

Business chambers call for immediate halt to customs action

Published

on

“This would jeopardise the delivery commitments of the local manufacturers to international brands, further damaging our economic reputation and future trade prospects”

The Joint Chambers of Commerce yesterday expressed strong disapproval of the decision by the customs officers to work to rule, emphasising the urgent need to resume normal operations to avoid further harm to businesses.

The customs officers, who are planning a strike today and tomorrow, have already caused significant delays in clearing import cargo, disrupting the supply chains and delaying production and delivery.

“The delay in clearing goods has led to considerable costs, including port demurrages, yard charges, vehicle detention charges and liner charges. The importers, in particular, are bearing the brunt of increased costs and delays, due to this ongoing action,” said the nine key chambers in a joint statement yesterday.

The chambers voicing their concerns include the Ceylon Chamber of Commerce, American Chamber of Commerce Sri Lanka, European Chamber of Commerce of Sri Lanka, Exporters Association of Sri Lanka, Joint Apparel Association Forum, National Chamber of Commerce Sri Lanka, National Chamber of Exporters, Federation of Chambers of Commerce and Industry of Sri Lanka and Women’s Chamber of Industry and Commerce.

The chambers cautioned that the prolonged disruption would have a ripple effect on the exports, as the delays in clearing cargo would lead to vessels bypassing Sri Lanka altogether.

“This would jeopardise the delivery commitments of the local manufacturers to international brands, further damaging our economic reputation and future trade prospects,” it said.

Among the cargo at the port are perishable food items, medicines and other essential goods. Continued delays could result in shortages of these supplies.

Any strike action, as planned for July 4 and 5, will only exacerbate the situation, leading to further hardships for businesses and the broader economy.  

Asserting that at a time when the country is beginning to show signs of recovery and growth, actions of this nature would only dampen such positive momentum, the joint chambers called on the customs officers to reconsider their current actions in the context of the national economy and welfare of the public.

“We recognise that the grievances, if any, must be resolved through discussion and not by resorting to strike or work-to-rule actions,” the joint chambers said, while emphasising that the duties of the customs officers must be carried out with the highest standards of professionalism and integrity, prioritising the nation’s interests above personal considerations.

(dailymirror.lk)

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

News

IMF grants waivers despite obligation breach & erred reporting

Published

on

By

The Executive Board of the International Monetary Fund (IMF) reviewed non complying purchases made by Sri Lanka under the 2023 Extended Arrangement under the Extended Fund Facility (EFF) as well as inaccuracies of information reported to the IMF.

However, the IMF has decided to grant waivers and not pursue further action, citing corrective measures and a commitment to reform by Sri Lankan authorities.

Following the Executive Board’s discussion, Deputy Managing Director and Acting Chair – Mr. Kenji Okamura, has issued the following statement:

“The Executive Board of the International Monetary Fund (IMF) reviewed non complying purchases made by Sri Lanka under the 2023 Extended Arrangement under the Extended Fund Facility (“EFF”), as well as a breach of obligations under Article VIII, Section 5. The noncomplying purchases arose as a result of the provision of inaccurate information by the authorities on the stock of expenditure arrears at the first, second, and third reviews under the EFF.

“The inaccuracies in information provided to the IMF were inadvertent and arose because of weaknesses in the timely reporting of arrears by line ministries to the Ministry of Finance, as well as a misunderstanding by the authorities of the definition of “arrears” under the Technical Memorandum of Understanding. 

“The Executive Board positively considered the authorities’ corrective actions, the fact that arrears repayments will be accommodated within the existing fiscal envelope, and the authorities’ commitment to improving public financial management procedures in line with the new PFM law, to reduce the risk of accruing arrears or inaccurate reporting of information going forward. In view of the above, the Executive Board agreed to grant waivers for the nonobservances of the quantitative performance criterion that gave rise to the noncomplying purchases and decided not to require further action in connection with the breach of obligations under Article VIII, Section 5.”

Continue Reading

News

Abdul Wazeeth appointed to Parliament from SLMC national list

Published

on

By

Abdul Wazeeth of the Sri Lanka Muslim Congress (SLMC) has been appointed as a Member of Parliament, the National Election Commission has announced.

His appointment comes following the resignation of former MP M. S. Naleem, who had entered Parliament through the SLMC National List after the 2024 parliamentary election.

Continue Reading

News

Tense situation in Kahawatta as residents clash with police

Published

on

By

Police had been compelled to use tear gas to control a tense situation that erupted between residents and police in Kahawatta following the funeral of a youth who was shot dead recently.

The funeral was held today (July 03) and the clash had broken out shortly afterwards.

Residents had expressed anger over the handling of the and had hurled stones at the police, reports say.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved