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Wednesday October 5th, 2022

Sri Lanka removes LC margins on electronic, ‘non-essential’ items: Cabraal

ECONOMYNEXT – Sri Lanka is removing cash margins on electronic items, underware from October 01, but importers should not bring down excessive amounts, Central Bank Governor Nivard Cabraal said.

“The cash margin is removed from today,” Cabraal said delivering a 6-month roadmap.

“Importers should use this responsibly and not import excessive amounts.”

Sri Lanka’s interventionists bureaucrats, many who had studied ‘development economics’ at Western universities think they know better than the people what is ‘essential’ or not.

After a money printing central bank was

Cabraal said building material importers such as steel should also not build excessive stockpiles.

Migratory allowances will be restored when current restrictions run out.
(Colombo/Oct01/2021)

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