Wed, 29 Mar 2023 Today's Paper

Customs, banks instructed not to facilitate palm oil imports

6 April 2021 01:04 pm - 1     - {{hitsCtrl.values.hits}}


The Imports and Exports Control Department has issued a directive to all commercial banks and Sri Lanka Customs to not to facilitate the processes of palm oil importation with immediate effect.

The order follows President Gotabaya Rajapaksa’s decision to completely ban palm oil imports in refined or crude form with immediate effect, along with a decision to completely do away with the cultivation of oil palm and phased out the removal of what is already cultivated.

Commercial banks have been instructed not to effect advance payments nor establish letters of credit (LCs) with immediate effect. The banks are also instructed to refrain from releasing any documents to assist the clearance of palm oil shipments at Sri Lanka Customs, and not effect payment in such instances until further notice.


  Comments - 1

  • Umar Perera Tuesday, 06 April 2021 06:38 PM

    Is this a prequel to imports of oil from elsewhere which gives the bigwigs a higher commission?

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

Import of South Indian eggs: Sri Lanka walks on Indian eggshells

With the increase in egg prices the government decided to import eggs to regu

Wokeism: Is it destructive, or are you afraid of change? A response

In order to critically discuss a movement, we must first understand its etymo

Defeat in Ananthapuram Battle denoted the LTTE’s end

Many battles were fought during the long war between the Sri Lankan armed for

Wokeism: A Weapon of Mass Destruction?

When can one say they’ve had enough of being in a state of ‘wokeness’ a