Feb 10, Colombo: The Secretary of the Ministry of Finance Dr. P.B. Jayasundara has requested the chiefs of the state banks to refrain from issuing Letters of Credit to import a number of food commodities as the country has become self-sufficient of those items.
Sri Lanka has become self-sufficient in several commodities including rice, maize, phaseolus max, potatoes, dried chilies and big onions etc.
Dr. Jayasundara said the country was spending about US$ 150 million per year for the import of these food commodities, an amount of foreign exchange which could be saved.
The senior public official expressed these views addressing a seminar held in the Central Bank of Sri Lanka on February 07th with the participation of the senior management of the state banks.