Rs. 300 Levy on DC Imports Extended
Government, by gazette notification 02255-80 and dated 23 November has extended the validity of the Rs. 300 per kg special commodity levy charged on the import of desiccated coconut (DC) for six months from 24 November to protect its spartan foreign reserves which are at a near 13-year low of USD 2.3 billion as at end October, the latest of such figures on the public domain.
However, this levy is not valid for such imports made by the Government owned BCC Lanka Ltd., where a charge of only Rs. one per kg will be applicable for BCC imports of DC, the gazette, issued by Finance Minister Basil Rajapaksa said. DC is derived from the coconut kernel. Census and Statistics Department (CSD) said that coconut prices currently has increased by 10.7 per cent year on year (YoY) to Rs. 87.94 a nut, a case to liberalise coconut imports to bring down the cost of living. (PA)