Reply To:
Name - Reply Comment
Last Updated : 2024-05-10 15:33:00
23 March 2022 07:02 am - 22 - {{hitsCtrl.values.hits}}
The use of US $ 1 billion Indian credit line for the release of around 1500 containers of essential food commodities already imported from India and stuck at the port has been hampered since some of the shippers are not ready to accept payment in Indian rupees, a spokesman said.
The government signed an agreement with India to secure the credit line to import food items and medicines from India. In the wake of signing the agreement, Trade Minister Bandula Gunawardana said he gave instructions for the initiation of steps to get these cargoes released using the credit line.
However, a spokesman for the Essential Food Commodities Importers and Traders Association said a lot of formalities remain to be completed for the credit line to materialize.
He said payments should be made in Indian currency to shippers.
“Some of the shippers insist on payments in US dollars. We face this problem in securing the release of items already stuck at the port. We may be able to overcome this problem for future imports,” he said.
The importers had a meeting with the Finance Ministry yesterday and the day before in this regard.
Besides, he said a lot of paperwork remains to be done in this exercise even involving the Indian High Commission for approval of the suppliers.
Also, the spokesman said the prices of imported food commodities had increased at least by 30-40 percent due to the depreciation of the rupee value against the US dollar.
Dhal price has increased to 375-380 a kilo in the wholesale market. The prices of sugar, rice and spice varieties have also increased similarly .
“Imported rice prices range from Rs.130-160 a kilo,” he said. (Kelum Bandara)
Iwazaru Wednesday, 23 March 2022 07:22 AM
Ha Ha Ha! So the loan came in Indian Rupees. What a bunch of clowns are running Sri Lanka's economy.
Mizaru Wednesday, 23 March 2022 07:24 AM
Ah! The man with seven brains said there are no string tied to the Indian assistance. This is not a sting but a steel cable used in heavy duty cranes.
Abhinav Friday, 25 March 2022 04:23 PM
You're obv refering to China taking over Port City. India is the only one willing to help, China already refused to restructure loans so they can take actual land against the payment. When India withdraws the same, who will give fuel, medicine, food and essentials to our country. YOU?
Mizaru Wednesday, 23 March 2022 07:35 AM
The Indian rupee is not an hard currency. It looks like Sri Lanka is not reduced to a Indian state. Sri Lanka is gradually losing it sovereignty.
jan Wednesday, 23 March 2022 07:53 AM
Srilankans Undergoing Horrible Deteriorating Situations as Eggs, Chicken, Vegetables prices Soaring,No Gas, Petrol Long QUEUES,No milk Powder,Mr President immediately give Solutions to these problems
dot Wednesday, 23 March 2022 08:22 AM
The country and even the Minister seem to be kept in the dark about the finer print of the agreement with India .so now the Indian High Commission has power over trade ..pity the Minister of Trade seem ignorant.
Cat is out Wednesday, 23 March 2022 08:30 AM
Now I understand why our trade union leaders had secret zoom meetings with unknown Indians. This never-ending vicious cycle will continue, no matter who comes to power.
Roshan samarathunga Wednesday, 23 March 2022 08:41 AM
Best way forward to make dollars diversify the economy, transparency, by electing educated individuals to the parliament. We must getting rid of thugs
bandara Wednesday, 23 March 2022 09:19 AM
try Chinese currency, they may accept it
Thitha Atha Wednesday, 23 March 2022 10:23 AM
Our Foreign Ministers wires are out, Finance Minister totally a mud, Prime Minister is a in valid puppy, CB Governor is a thief then just think how to run a country.
Hubert Congreve Wednesday, 23 March 2022 10:24 AM
The fellow who does not talk a word of English deals with the important Finance matters, means anyone can easily cheat, that's what happened.
Wijemuni Wednesday, 23 March 2022 10:26 AM
Now we have already become slaves to India. Basil
Silva Wednesday, 23 March 2022 02:57 PM
You have a good friend china who put you in this place. Trust your neighbors. You gave Indians the finger while taking loans from them.
Abhinav Friday, 25 March 2022 04:20 PM
I guess you prefer being a Chinese servant who strip the country of land and money only to restrict growth and send their prisoners to our country.
Doo Doo Doo Wednesday, 23 March 2022 10:28 AM
Basil will print currency again, but even for that no papers available, its pity.
vibz Wednesday, 23 March 2022 11:22 AM
Already imported items wouldn't fall under the Indian credit line. what stupid logic is this. why would non-indian exporters accept indian rupees?
Seqi Wednesday, 23 March 2022 01:11 PM
Dilemma..... the Sri Lanka artform.
Maruthan Wednesday, 23 March 2022 01:43 PM
So our Basil didn’t understand what the Indians told him, it’s not in $ but in IR! He should go back to finish off his secondary schooling along with his siblings !
John Frazer Wednesday, 23 March 2022 02:30 PM
Is this the way Treasury and finance ministry run like headless chicken or bull in the china shop. Right hand does not know what the left hand is doing. Shout at the pre independence rulers for another 70 years.
ignatius rasiah Wednesday, 23 March 2022 03:03 PM
Get Sri Lanka print some Indian Rupees and pay them.
kaleel Thursday, 24 March 2022 05:21 PM
so sorry to see this misfortune to paradise island. Aask to pay Rajapaksa brothers
tkdas Wednesday, 30 March 2022 12:58 PM
pass a resolution in your parliament requesting india to admit srilanka as one of the states of indian republic. send these documents to all the nation and un as well to delete srilanka from every place . of course india will not recognise debt taken from china and other countries,
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
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
7 hours ago
8 hours ago
09 May 2024
09 May 2024
09 May 2024
