August 11 (LBO) – Sri Lanka™s Board of Investment is to expand a selective list of exporters and importers who get Green Channel or speedy clearance through customs.
We are in the process of considering further investors who are eligible for the scheme and we will add on another five to ten a month to the list, Lakshman Watawala, Chairman of the BOI told investors on Friday.
Launched in February last year, the scheme has been open to 50 exporters and importers to date, selected on the basis of flawless documentation, environmental and other clearances.
It is also given based on employee benefits, timely payments to the BOI and extent of value addition usually over 35 percent, R M Karunaratne, Executive Director of BOI Investor Services, said.
Exporters and importers with green channel privileges submit their customs declarations electronically and their cargo is cleared without detailed verification or physical cargo inspection.
But Customs reserves the right to random verifications and inspections and documentation also go through a post-audit by the BOI, Karunaratne says.
The existing exporters and importers in the scheme