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Indian suppliers deny release of imported items for Indian Currency

Some of the Indian suppliers arrived in Sri Lanka have denied the release of imported items from India for Indian currency, days after the government’s move of obtaining a US$ 01 billion debt facility from India to alleviate some of the issues occurred with the economic crisis befallen the country, including the shortage of essential food items.

The Indian debt facility is expected to be used for the release of about 1500 containers carrying essential food items imported from India stalled at the Colombo Port, but the suppliers’ resistance to release them in the demand of US Dollars instead of Indian currency has made another strike against the mission to alleviate the economic crisis in Sri Lanka.

Meanwhile, the Essential Commodities Importers’ Association claimed that several more steps need to be completed to import essential food items under the Indian debt facility, warning that until then, the application of the debt facility for the imports may not be possible, hence a further collapse in the importation.

MIAP

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