Relaxing of exporter earnings repatriation
Exporter earnings repatriation rule relaxed from today. In a move to loosen up the foreign exchange controls slapped on the Lankan exporters, the government has decided to extend the 90 days earnings repatriation rule up to 150 days, taking effect from today – August 01, according to a government official.Further the period could also be extended on a case-by-case basis if the situation warrant a longer period based on practical reasons.According to Indira Malwatte, the Chairperson of the Export Development Board (EDB) the revision of the rule was in response to continuous calls by the exporter community to revisit the draconian styled control.
