HomeNewsDuty concessions for local garment manufacturers to import appliances

Duty concessions for local garment manufacturers to import appliances

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The Cabinet has granted approval to provide duty concessions for the imports of equipment/appliances by local garment manufacturers.

The government said the garment industry has become one of the main sectors earning foreign exchange to Sri Lanka even amidst the Covid-19 pandemic circumstances. 

However, due to the price hike of raw materials and the prevailing unfavourable economic environment experienced in the country, local garment manufacturers are compelled to deal with a number of challenges when importing appliances required for garment manufacturing that are not produced locally. 

Accordingly, the Cabinet has granted approval to grant duty concessions for the importation of appliances/items not manufactured locally and that come under 19 harmonized system (HS) codes; as a remedy to the prevailing situation. 

The proposal in this regard was presented to the Cabinet by the Minister of Industries. (NewsWire)

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