Indian goods to the market soon – Bandula

Minister of Trade Dr. Bandula Gunawardena said commodities imported from India that have not yet been released from the port, are being prepared for release and will be registered with the Ministry of Trade as soon as possible.

He urged importers to register with the Ministry so that information on the release of vital food products, essential pharmaceuticals, cement, textiles, animal feed, raw materials for industries, and specific fertiliser imported from India, may be released to the market soon.

This is being done with the USD 1 billion credit line that was provided by India.

Addressing the media he said, the Ministry of Finance will quicken the release of these items from the port after registering with the Ministry of Trade.

In response to a newspaper advertisement for the registration of importers, for the import of vital commodities under the Indian Loan Scheme for 2022, the Minister stated importers could apply online at gov.lk from 21 to 28 March.

He further said a hard copy of the completed application should be given to the Ministry of Trade at No. 492, R.A. de Mel Mawatha, Colombo 3 on or before 28 March by 3:30 p.m.

Dr. Gunawardena said the demand for US dollars is due to the fact that the import of raw materials and the quantity of goods targeted for the festive season will decrease as a percentage by April because all parties will be engaged in selling festive season targeted products during the upcoming festive season.

“Economic analysts predict that the dollar will depreciate in the near future.”Apart from politics, the entire country must be transformed into an export processing zone to earn foreign exchange, through product and market diversification and innovation,to grow its income as a country economically and technically,” he said.

(Source: Ceylon Today)