Sri Lanka, June 26 -- Hundreds of vehicles are stranded at the port, with hundreds more on the way, after Sri Lanka Customs abruptly halted the clearance of vehicles imported under cross-border Letters of Credit (LCs) starting May 26, this year.
The move has disrupted a standard industry practice of over a decade, leaving importers facing mounting demurrage charges and significant financial uncertainty.
According to the Vehicle Importers' Association of Sri Lanka (VIASL), 200-300 vehicles are currently stuck at the port, with another 300 in transit. The sudden blockage stems from Customs' decision to enforce a clause in a 2013 gazette notification.
"Since 26th May onwards, Sri Lanka Customs has blocked the vehicles," VIASL President Pr...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.