Deputy Minister of Finance and Planning Dr. Anil Jayantha has stated that the objective of the new gazette notification issued by the Department of Imports and Exports Control is not to restrict import and export activities.
Issuing a special statement, the Deputy Minister emphasized that the purpose of the notification is to prevent the unnecessary outflow of foreign exchange from the country by systematically monitoring import payments.
He pointed out that it was recently revealed in Parliament that certain parties had registered fraudulent companies and used the import-export process as a means of transferring foreign exchange out of the country.
Under the new gazette notification, all relevant information, including importers’ addresses, account numbers, and the currencies used for payments for imported goods, must be formally obtained.
Dr. Anil Jayantha further stated that every bank is required to maintain a separate identification number for each individual transaction.
