Sri Lanka government has devised a methodology to provide additional duty concessions extended for Sri Lankan migrant workers based on the amount remitted through official banking channels.
The objective is to boost foreign exchange inflows through the banking system to overcome the foreign exchange crisis, Labour and Foreign Employees Minister Manusha Nanayakkara disclosed.
As per the Minister, the allowance will be provided to be utilised upon the arrival of the migrant workers at the airports.
“The ministry will maintain the existing system, which extends a duty concession up to US$ 187 to any Sri Lankan who returns to the country in less than 90 days.
In addition to that, migrant workers returning to Sri Lanka between 90-365 days will be provided with an allowance of $ 625, while those returning after over a year will be given an allowance of $ 1,750,” he said.
However, following the new Cabinet decision, the Ministry has now introduced three categories as Silver, Gold, and Gold plus.
“Those who have remitted $ 2,400 within one year via official banking channels will be included in the silver category. Among this category, those returning within 90 days will be provided with an allowance of $ 787, those returning within 90-365 days $ 1,252, and those after one year $ 2,350,” Nanayakkara said.
He also said migrant workers who have remitted $ 4,800 for a period of one year through official banking channels, those below 90 days will be provided with an allowance of $ 1,175, those between 90-365 days $ 1,585, and those over a year will be $ 2,710.
“Migrant workers who have remitted $ 7,200 for one year will be included in the gold category. Among this category, those with less than 90 days will be provided with an allowance of $ 1,627, those between 90-365 days with $ 2,650, and those over a year $ 3,190,” he added.
The Minister said migrant workers who have remitted $ 12,000 will fall under the gold plus category.
“Those with less than 90 days will be provided with an allowance of $ 2,587, those between 90-365 days with $ 3,025, and those over a year will be provided with an allowance of $ 4,150,” he said.
He also said for migrant workers who have remitted $ 24,000 for a period of one year, those with less than 90 days will be provided with an allowance of $ 4,985, those between 90-365 days with $ 5,425, and those over a year $ 6,550.
The Cabinet of Ministers also approved providing a licence to import an electric vehicle equivalent to 50% of remittances.
If a migrant worker had remitted over $ 3,000 either to their bank account or to family members, they can buy an electric motorcycle equivalent to half of the money sent. The minimum amount is $ 3,000 and this permission is not available for the purchase of three-wheelers,” he explained.
Accordingly, the Government has allowed importing electric vehicles if a migrant worker has remitted $ 20,000 to a maximum of $ 65,000.
“These imported vehicles should be in the range of 300-500 km. The electric vehicles must be charged by a solar-assisted power charger installed by themselves without burdening the national power grid,” Nanayakkara said.
