Press briefing of Cabinet Decision taken on 2018-05-22

Establishment of Bonded Warehouse facilities for selected Industries

- In accordance with the Budget proposals of 2018, a proposal has been made for granting of tax relief in the import of capital goods for pharmaceutical manufacturing industry, dairy production industry, solid waste management and renewable energy production enterprises and providing facilities in order to eliminate delays in Custom clearance.

By this, it is expected to develop said sectors by providing relief to the local investors who are engaged in the importation of capital goods for the establishment or expansion of the said industries. Accordingly, the proposal made by Hon. Mangala Samaraweera, the Minister of Finance and Mass Media, to introduce a method of bonded warehouse facilities to provide new investments to expand the industries of the pharmaceutical manufacturing, dairy production, solid waste management and renewable energy production, was approved by the Cabinet.