Festive season in plight; Importers raise concerns

COLOMBO (News 1st); The Essential Materials Importers' Association says that if the opportunity to import essential goods under the open account system will not be made available from next month, the importation of goods during the festive season will be hampered.

Its media spokesperson, Nihal Senaviratne stated that the price of goods in the market has decreased slightly in the last two months due to the permission to import essential goods under the open account system.

He said that the open account system was only implemented for a period of two months, and is due to expire from next month onwards. 

Seneviratne pointed out that an issue will arise if the open account system will not be extended, and adequate foreign exchange is not present within banks for imports afterwards. 

(Image credit: XinhuaNet)