Sri Lanka to issue new import licenses for bitumen
Aug 24, 2016 11:59 AM GMT+0530 | 1 Comment(s)
ECONOMYNEXT - Sri Lanka plans to issue new licenses to import bitumen (road tar), charging a Rs2.0 million fee every six months, Information Minister Gayantha Karunathilaka said.
The cabinet of ministers had approved a proposal by Finance Minister Ravi Karunanayake to list bitumen as an item under Sri Lanka's Import and Export (Control) Act.
Sri Lanka Standards Institute would be asked to prepare standards to suit international ones.
The Industrial Technology Institute and the Road Development Authority would be instructed to upgrade and accredit their laboratory facilities to issue quality certificates.
The finance ministry also hopes the issuance of licensing may result in Sri Lanka becoming an international trading hub for lubricants. (Colombo/Aug24/2016)