Wednesday, April 17, 2019

‘SLPA’s Tariff upward revision causing detrimental effects’

Initiative of upward tariff revision by the SLPA has become a controversial matter raising many concerns of exporters/importers during tough times where Sri Lanka is trying to find their position back in the world map as a competitive exporter.

However, the SLPA seems adamant to go-ahead with this implementation disregarding the concerns raised by the industry sources revealed. Though the players who are engaged in the international trade continuously insisted that, rates remain unchanged, it is unfortunate that the Authorities are still trying to act in favor of the upward revision.

A tariff revision was imposed effective from 1st January, 2019 without any prior notice given to industry. This caused confusion, inconvenience, disruption of business & losses to the trade. Eventually when the matter was raised, it was agreed upon to take necessary action in order to revoke the Cabinet decision.

This resulted in the former tariff (which was prior to 01st of January 2019) was re-implemented effective on the 07th of February 2019.

Industry argued that the additional tariff amounts charged, have not yet been refunded to the traders by the authorities. While incurring loss of the tariff charged during this period, now the industry has to get ready for the next upward tariff revision.

Industry perceived this as a unilateral and arbitrary decision taken by the SLPA in a situation where they are enjoying the financial benefits of the rupee devaluation as well.

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