Sri Lanka hikes special commodity levy on big onions

COLOMBO (News1st): Sri Lanka's finance ministry has increased the Special Commodity Levy imposed on imported big onions for two months with effect from May 1. The commodity levy which stood at Rs 1 a kilo after it was imposed in February, has been increased to Rs 15, a state document showed. Last month, the government increased the special commodity levy on fruits and palm oil amidst an economic crisis, while also announcing import restrictions to curb foreign outflows. The restrictions which also included a temporary ban on the importation of at least 156 products, were relaxed for raw material imports this week.