Press briefing of Cabinet Decision taken on 2017-05-02

Recommendations on Financial Incentives on the Import of High-Tech Automated Machinery and Equipment

- Budget proposal of 2017 has offered a Financial Incentive of 75% waiver on Port and Aviation Levy (PAL) on import of High-Tech Automated Machinery and Equipment when importing machinery which will enhance the productivity of any enterprise. The approval of the Ministry of Industry and Commerce has to be obtained to be entitled for this incentive granted by the Government. Accordingly, the proposal made by Hon. Rishad Bathiudeen, the Minister of Industry and Commerce, to appoint an Officials' Committee under the Chairmanship of the Secretary to the Ministry of Industry and Commerce to scrutinize and recommend the application for the said incentive, was approved by the Cabinet.