Customs duty increase on imported rice approved by cabinet

rice

Feb 11, 2016 (LBO) – The government recently decided to increase the import duty on rice from 35 rupees to 50 rupees per kilogram effective from February 01, 2016.

Finance Minister Ravi Karunanayake’s proposal to submit the relevant Gazette Notification under the “Revenue Protection Act” to the parliament for approval, has been approved by the cabinet yesterday.

The above decision has been taken with the view of protecting local farmers, who cultivate paddy and are assured a reasonable market price for paddy harvested in the coming Maha season 2015/2016, the government said.