Levies on imported vegetable oil and fish revised

Action has been taken to implement special commodity levy (single levy) on imported vegetable oil and fish and to revise existing special commodity levies for sugar, garlic, dhal and watana having taken the reduction of international market prices into consideration, by the Extraordinary Gazette Notification No. 1740/20 dated 12.01.2012, with effect from January 13, 2012, states a Finance and Planning Ministry release.

The release adds: Reduction of imported dhal could be seen due to increase of international supply and measures have been taken to safeguard the local cultivators of green gram and kaupi.

Even though the present levies have been revised having considered the reduction of international prices on sugar and garlic it does not make any effect on local prices.

Levies on imported vegetable oil have been revised in order to safeguard local coconut oil industry. In order to simplify the levies on imported fish and to keep the market requirement of fish stable, it has been subjected to a single levy and this revision does not cause any change in levies on fish.