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Customs revenue drops by 12% due to import restrictions

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The government has paid attention to remove import restrictions imposed on a number of goods including medicines and household appliances required by several industries,
State Minister of Finance Ranjith Siyambalapitiya said.

He expressed these views after a discussion held at the Customs Headquarters yesterday (18). The revenue of Customs in the first quarter was also discussed during the meeting.

The state minister said that a thorough study is being conducted with the Economic Research Department of the Central Bank regarding the removal of restrictions on these goods.

He said that although a target of Rs.270 billion had been given to the Customs for the previous quarter, the revenue was 12 percent less than the expected amount mainly due to import restrictions.

In 2021, 485 goods including vehicles were restricted from importing while 750 items were restricted from importing in 2022. The state minister said the decline in the value of the US Dollar in March also led to the inability to reach the revenue targets.

The state minister said that they hope to introduce methods like digital technology to the Customs, and update the Customs codes in the future. “This will help successfully overcome upcoming challenges,” he said.

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278 prison inmates to be pardoned

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A total of 278 inmates at prisons across the island will be released tomorrow in view of Vesak festival, the Prisons Department said.

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Parliament suspended due to lack of quorum

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Parliament sessions were abruptly suspended until June 04 due to a lack of quorum. 

There were less than 20 member present during the time of suspension. 

MP Jagath Samarawickrama was at the Chair.

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Notice for students sitting for Grade 5 scholarships

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The Department of Examinations has announced that the 2024 Grade Five Scholarship Examination will be held on September 15 this year.

It adds that applications for the examination will be accepted online from May 27 – June 14, 2024 and acceptance of applications will not be extended beyond the announced period.

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