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Will intervene in issues when issuing LCs to import buses, lorries, trucks: Minister
State Minister of Finance Ranjith Siambalapitiya said he will immediately intervene to solve the problems arising in the issue of letters of credit (LCs) based on the permission to import buses, lorries and trucks used for public transport and lorries and trucks required for special purposes.
Sri Lanka is ready to work to resolve the issue related to international recognition of letters of credit, the m
Minister said during a discussion with vehicle importers.
During the discussion, the importers mentioned that due to various measures taken due to the ongoing economic crisis in Sri Lanka, a situation has arisen where LCs are not accepted internationally.
Although permission was given for the import of several categories of vehicles, including buses used for public transport, their import has become problematic, the importers said.
The minister mentioned that he will discuss this matter with groups, including the Central Bank, and work to provide necessary solutions.
He pointed out that the ministry is investigating the possibility of issuing government guarantees for the related letters of credit. (Chaturanga Pradeep Samarawickrama)
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