Private sector granted permit to maintain Inland clearance depots for LCL's

COLOMBO (News 1st) - The Government has permitted the private sector to maintain Inland Clearance Depots for cargo classified as Less Than Container Loads or LCL. Issuing a communique the Ministry of Finance said that subject Minister Mangala Samaraweera has signed the Gazette including the specific regulations. Accordingly, the Inland Clearance Depots will handle the import, export, and transhipment or LCL Cargo with effect from the 1st of October. The Sri Lanka Customs can obtain approval from the Minister of Finance to establish Inland Clearance Depots to facilitate the increase of international trade flow and to reduce the congestion in the Port. An annual license fee of Rs. 500,000 will be charged. Permission has also been granted to impose LCL on capital imports of capital goods to manufacture medicinal drugs, dairy industry, and disposal of garbage. The release also noted that taxes will not be imposed on capital goods.