Import tax on edible oil increased

23 September 2015 11:53 am - 6 - {{hitsCtrl.values.hits}}

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Special commodity levy on imported edible oil was increased by Rs 20 per a kilo with effect from today to provide relief to local coconut industry, the Finance Ministry said.

Earlier, the levy on crude edible oil was Rs 90 per kilo and Rs 110 per kilo for refined oil.

“Edible oil is imported as a substitute for coconut oil. In order to protect the local coconut oil industry, Finance Minister Ravi Karunanayake issued directives to increase the special commodity levy of imported oil by Rs 20,” the Ministry said. (Lahiru Pothmulla)

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Comments - 6

UKUSSA Wednesday, 23 September 2015 05:32 PM

For sure one freind of him may have big stocked now, We have to tolerate as existing stocked data not published by the customes

Sene Wednesday, 23 September 2015 05:53 PM

We should not import when we have a good industry

Sarath Wednesday, 23 September 2015 08:51 PM

good governance is such. a wheeler dealer of a minister makes a huge stock of an essential food item. then a tax is imposed citing protection of local industry. the wheeler dealer makes a huge profit.

Pramod Wednesday, 23 September 2015 08:56 PM

Price of every essential item is going up and the excuse given is to protect local industry. in the end poor people will struggle more while the local industries will be wide opened through CEPA. This government lacks direction.

DHA Wednesday, 23 September 2015 09:07 PM

Sometime back these guys were the people who shouted "Wolf Wolf...."

Martin Wednesday, 23 September 2015 09:15 PM

Well I want olive oil for cooking and coconut oil is no substitute for italian dishes. Thanks a lot!

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Import tax on edible oil increased

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