Measures to revise restrictions on importation of agricultural inputs | Daily News

Measures to revise restrictions on importation of agricultural inputs

The Government has taken measures to revise the restrictions on the importation of agricultural inputs.

Speaking at the Cabinet media briefing held at the Government Information Department yesterday, Cabinet Spokesman Mass Media Minister Dr. Bandula Gunawardana said that the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies forwarded to the Cabinet of Ministers to increase the existing prepayment limit of US$ 50,000 to US$ 250,000 in importing identified agricultural seeds, agro chemicals and chemical fertilizers.

It has become difficult to import essential agricultural applications in time, due to the country’s foreign exchange crisis, problems in opening Letters of Credit, as well as restrictions related to the prepayment system. For this reason, agriculture has faced a severe crisis.The importers of agricultural applications have pointed out to the Government that because each order related to the import of agricultural inputs needs to be approved by several institutions, the imports are delayed and incur additional costs.


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