Financial Times

Govt. urged to impose duty on maximum price of confectionery imports

The government has imposed the Maximum Retail Price (MRP) system of taxation in the Cess on the import of all confectionary products heeding a request made by Lanka Confectionery Manufacturers Association (LCMA).

Picture shows the AGM in progress

The aim is to curb the dumping of cheap imported confectionery products which pose a major health risk among the people, mostly children who consume them, said the Chairman of the Association Quintus Perera in a statement in the Association’s annual report 2008/2009. However he noted that for some very strange reason this was not made applicable to import duty.

He urged the government to introduce the MRP System of taxation to import duties in addition to applying it on cess as it will lead to a great reduction in under–invoicing of imported confectionary. Imported confectionery products, have also been brought into the ‘Compulsory Inspection Scheme’ implemented by the Sri Lanka Standards Institution (SLSI).

Most of the cheap imports come mainly from China, Indonesia, India and Dubai in the form of candy, cup jellies, chewing gum, sweets and snacks and are sold at low market prices, the Chairman noted.
"This raises suspicions on unspecified, cheap raw materials or substitutes being used in these products".

He emphasized the need to enact legislation to curb this threat as the unregulated flow of low quality confectionery imports could be detrimental to the health of the people.

 
Top to the page  |  E-mail  |  views[1]
 
Other Financial Times Articles
World Bank project in the balance
CDL to move into heavy engineering
HSBC first foreign bank in Jaffna
FCCISL accused of forced retrenchment
Action against unregistered private medical centres
People opt for mobiles, SLT fixed-line use falls
COMMENT - Tourism in crisis: Small vs Big
GSP Plus: Was there another way?
Winning consumer confidence in the downturn
Tea prices increase as buyers stock up
Stockmarket - More than six IPOs due in next few months
ICASL: Leading a new beginning for Sri Lanka
Mitsui Sumitomo Insurance renews agreement with Ceylinco Insurance
FR petition over SLT tariffs taken up
Timely reminder of good corporate governance
SLT fixed line telephone service on the decline
NDB Bank launches website in Sinhala and Tamil
SLT-Call rates to fixed/mobile down by 35%, monthly rental reduced up to 48%
Singlanka says audits of accounts since 2001/02 submitted
Letter - Refunds from Inland Revenue: Call for Presidential probe
Brandix constructs bathing facilities for IDPs
X-ONT SOFTWARE gets CMMi V1.2 certification
Correction - AG’s department opens northern region office
Debate intensifies over who should judge issue
MillenniumIT receives Cisco WebEx programme authorisation status
SLIM appointed partner for World Brand Congress 2009
Govt. urged to impose duty on maximum price of confectionery imports
Hemas Power to acquire more power projects
Hayleys Agro wins big at Ag-Biz 2009 Awards
Exploratory study to reconnect with North and East
Japan provides Rs. 36 mln for livelihood project in Batticaloa
Standard Chartered Hong Kong launches world’s first $150 banknote
Marawila Resorts: Auditors express concern on viability
IMF in Sri Lanka for Quarterly Review
Taprobane Travels marks 30 years with SriLankan Airlines
Sri Lanka Bags Global Best Service Award for Small Destinations from TUI
Interest rates falling, but banks not responding: Why?
Ceylinco problem among issues in confidence-crisis facing construction industry
Biggest problem for doing business in Sri Lanka is tax regulations
Deccan Air ramping up investments in post-war Sri Lanka
Colombo share market to see pre-1994 highs
Now Ceylinco Profit Sharing accused of mismanaging depositors funds
Warning against ‘lucrative’ job offers in Spain
Shareholders of F&G ratify board resolution to repay depositors
Sri Lanka Telecom Services Ltd receives ISO 9001:2008 certification
GK payment plan hangs in a balance
CB wants independent verification on Ceylinco Shriram assets
NAMAL wants rules eased on unit trusts

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2009 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution