US$ 500 million credit for raw materials for local industries

Date:

Sri Lanka will receive US$ 500 million under the Indian debt facility for the importation of goods including raw materials for local industries, revealed the Industry Ministry.

Accordingly, the goods will be imported to the country expeditiously based on priority, said General (retired) Daya Ratnayake, Secretary to the Industry Ministry.

He added that the shortage of many essential raw materials may be eliminated within the next few weeks.

MIAP

Share post:

spot_imgspot_img

Popular

More like this
Related

Regulatory Uncertainty Threatens Foreign Investments amid Economic Fragility

Sri Lanka’s fragile investment recovery faces renewed pressure as...

Cyclone Shock Exposes Power Sector Fault Lines, CBSL Warns

The aftermath of Cyclone Ditwah did more than replenish...

Cyclone Ditwah Exposes Economic Fragility amid Policy Paralysis

Sri Lanka’s post-crisis economic recovery suffered a severe reversal...

China Pumps Millions into Colombo Port City as Policy Chaos Looms

China Harbour Engineering Company (CHEC) has doubled down on...