2/07/2014

Sri Lanka nabs illegal export of scrap copper to Singapore

Sri Lanka Customs today arrested two containers of scrap copper which was on the way to be smuggled to Singapore.

The arrest was made at Colombo port. The Customs media spokesman Lesley Gamini said that the two container loads of scrap copper had been attempted to smuggle declaring them as equipment needed for garment factories.

He further said that the confiscated stock of scrap iron is worth of Rs. 22.5 million. Two persons have been arrested in relation to the smuggling attempt.

30% Cess Tax has also been imposed by Sri Lanka government to discourage copper scrap exports. Export of copper comes under heavy scrutiny from Customs Department and exporters need to obtain a special license from the government to legally export copper scrap. Sri Lanka imports 6.2 billion worth of copper annually for various local industries that need copper as raw material. It is estimated that 70 percent of the country's annual copper requirement can be balanced if Sri Lanka can halt the illegal export of copper.

(Colombo Page)

0 comments:

Post a Comment

 
Powered by Blogger