The Association of Importers of Essential Foods says that the bad documentation of the People’s Bank by China has had some effect internationally on the import of essential food items.
Nihal Seneviratne, the media spokesman for the association, points out that although this bad documentation takes place only in China, the companies pay attention to the entire banking system in Sri Lanka when issuing letters of credit for the purchase of essential goods.
Due to this, the relevant companies have imposed restrictions on the importation of food items under the DA scheme or postpaid scheme.
He pointed out that in this situation, goods exporting companies in Asian countries are even afraid to do business with Sri Lanka, so if the government takes action to remove such bad documentation, there is a possibility of importing goods without any hindrance.
Nihal Seneviratne says that at present only garlic is imported from China and since all the relevant purchases are made through private banks, such bad documentation is not an obstacle. This situation had arisen due to the rejection of a consignment of organic fertilizer from China by the Economic and Commercial Office of the Chinese Embassy in Sri Lanka which was badly documented by the People’s Bank on the 27th.
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