Apr 01, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) Chief said, recently introduced electronic commerce or paperless operations helps to reduce malpractices in work place.
Upul Jayasuriya , chairman of the Board of Investment of Sri Lanka was quoted as saying, that he was favourable to the paperless operations by introducing advanced Information Technology into the work process.
He has made this comment at a ceremony held recently at the Board of Investment of Sri Lanka extending its “Green Channel facility” to an additional 24 enterprises. Jayasuriya further added that the paperless operations contribute to the reduction of irregular payments and malpractices which exist.
A total number of 108 enterprises have been awarded Green Channel facility since 2006.
Green Channel is a facility given to BOI export oriented companies, based on their excellent performances and compliance to BOI regulations. With the Green Channel facility BOI enterprises are granted special facilities such as priority in documentation and also exemption from examination of selected cargo.
In 2014 a total number of 24 Green Channel facility holders were selected after thorough evaluation by a committee, comprising of representatives from six departments of BOI and they examined key areas such as Domestic Value Addition, accurate documentation, obtaining the environment protection license, payment of EPF and ETF on time, payment of BOI dues, employees welfare facilities, Industrial peace health and safety etc.