Confectionary and Bakery Associations to submit proposals to Treasury Secy. today

By Charumini de Silva

Lanka Confectionery Manufacturers Association (LCMA) and All Ceylon Bakery Owners’ Association (ACBOA) will further make representation today to the Treasury Secretary in a bid to resolve the crisis arising from the sudden and immediate ban of palm oil imports.

Members of both associations met yesterday to come up with some proposals to resolve the crisis following the Trade Minister’s remarks at Parliament on Wednesday (7). 

President Gotabaya Rajapaksa on Monday instructed that the import of palm oil be banned with immediate effect. 

Trade Minister Bandula Gunawardena on Wednesday told Parliament that if anyone wishes to import palm oil, they can submit an appeal to the Finance Ministry Secretary on the matter.

“We were told by the Trade Ministry to submit practical proposals to the Treasury Secretary by today (9),” LCMA President S.M.D. Suriyakumara told the Daily FT.

He said both industries are eagerly waiting for a favourable response from the Government to resolve the matter at the earliest to be able to continue their businesses. 

It was pointed out that the survival of the confectionery manufacturing industry is now in jeopardy with no time to arrange supply, substitutes or solution from authorities as they have run out of stocks already. 

“If we are not given a solution, we will not be in a position to continue business, but will have to close down factories that provide thousands of jobs to people,” stressed Suriyakumara.