The Cabinet has approved duty concessions for local garment manufacturers’ imports of equipment and appliances.
Despite the COVID-19 pandemic, the government claims that the garment industry has become one of the main sources of foreign exchange for Sri Lanka.
However, due to raw material price increases and the country’s current unfavourable economic environment, local garment manufacturers are forced to deal with a number of challenges when importing appliances required for garment manufacturing that are not produced locally.
As a result, as a remedy to the current situation, the Cabinet has granted approval to grant duty concessions for the importation of appliances and items not manufactured locally and falling under 19 harmonised system (HS) codes.
The Minister of Industries presented the proposal to the Cabinet in this regard.