Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's ban on terminal handling charges goes into effect
Tue, Jan 7, 2014, 12:25 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 07, Colombo: In a move to reduce the cost of shipping and attract more shipping lines to Sri Lanka's ports, Sri Lankan President Mahinda Rajapaksa in the 2014 Budget proposed abolishing the terminal handling charges (THCs) and other surcharges levied by the container lines from January this year.

From January 2014, Sri Lankan shippers will pay an all-in freight rate, President Mahinda Rajapaksa announced in his recent budget speech to parliament.

The Ministry of Finance Monday said the Extraordinary Gazette on Terminal Handling and Other Charges by shipping agents, freight forwarders, non-vessel operating common carriers, container operators and consolidators of cargo has been published by President Rajapaksa, who is also the Minister of Highways, Ports and Shipping and the new regulations will take effect from Monday.

"The regulation will be enforced by the Director of Merchant Shipping from Monday, 6 January 2014," the Ministry said in a statement.

"The move crystallizes one of the several proposals made by President Mahinda Rajapaksa in the Budget 2014 to create greater transparency in the levy of terminal handling and other charges," it said.

According to the Ministry "It will promote productivity growth and competitiveness of imports and exports."

ColomboPage - Recent 10 Stories
Economy stabilized amid many challenges - Sri Lanka PM
-- [23 minutes ago]
STF deployed for security of Kataragama, CID to investigate police shooting
-- [1 hour and 16 minutes ago]
Government allocates Rs. 65 billion to develop 'nearest school'
-- [2 hours ago]
Kataragama returns to normalcy after officer involved in shooting arrested
-- [8 hours ago]
President instructs IGP to investigate into Uva CM forcing a Principal to kneel down
-- [9 hours ago]
Ceylon Chamber organizes business forums with Singapore, Indonesia delegations
-- [9 hours ago]
Sri Lanka Human Rights Commission issues guidelines for police officers to follow during local election
Uva Chief Minister resigns from the post of Provincial Minister of Education
Sri Lanka to establish two more medical faculties to expand higher education
Special high court will be set up in next two months to expedite hearing of fraud cases - PM

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.