Business
Importers allowed to bring goods on shorter credit periods
In the coming weeks, clearance procedures are going to allow imported goods requiring supplier credit to be allowed with credit periods shorter than 180 days. The imported items will still require that the supplier provide credit for the item but the controls will be amended to allow for shorter credit cycles.
Department of Imports and Exports Control Controller General, Damayanthi Karunaratne noted that the economic fallout from COVID-19 necessitated the need for import controls but that these controls would be somewhat relaxed in the period ahead.
Rules for items needing supplier credit will be amended to allow for importation with credit periods shorter than 180 days. Other controls will also be loosened. Karunaratne was speaking at National Chamber recent webinar.
Certain widely imported items like freezer trucks, televisions, and auto spare parts are to have looser import controls. Items that have been put on the credit list but have been cleared on a payment basis can be cleared on the payment of a considerable fine under the discretion of the trade declarations committee.
Palm oil imports will be allowed through an import license system on the advice of the Industries Minister and the BOI.
Raw materials for local manufacturing are allowed so long as there is local value addition of 35%.
New gazette notifications are going to be drafted to allow for certain foreign standards and certification to be recognized by the Sri Lanka Import and Export Department.
License fees of the Department of Import And Export Control which have not been revised for multiple years are to be revised upwards. No information on allowing the importation of tiles has been officially communicated to the department of import and export. Ceramic squatting pans and bathroom fittings will be allowed on a credit basis.
Customs Superintendent, Indunil Udaya said that there is soon going to be a scanning machine at the exports division to reduce the physical examination of containers.
“If there are suspicions on a particular container there will no longer be a need to open the container. Non-invasive examination procedures can be undertaken. We are going to minimize human intervention because of the pandemic situation.”
“Once you upload the documents online you can’t upload them again, even if there is a requirement to upload further documents for clarification, you then have to come to customs physically with the documentation.”
An import-control license has to be debited with customs to clear goods. There is no online system but on an ad-hoc basis, customs officers will accept documents remitted via Whatsapp.
Customs Superintendent C. P. G. Punchihewa said that Customs Declarations are now completely submitted online.
Importers who fail to submit all the requisite documentation will have to come physically and submit the additional documentation.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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