AGP Executive Report
Last update: 3 hours agoVehicle Import Shock: Sri Lanka has imposed a 50% customs surcharge on imported vehicles for three months from May 16, on top of the existing 30% duty, with LCs opened on or before May 15 exempted—a direct move to slow imports and ease foreign exchange pressure amid the West Asia fuel-cost squeeze. Port Investment Reset: Colombo Port’s mega logistics hub plan has been cancelled, with SLPA set to restart a fresh RFP for the port-adjacent land. Banking & Consumer Protection: The CBSL launched a digital complaints portal for customers to lodge grievances against regulated banks, with tracking and faster handling. Trade Momentum (Region): India’s April exports rose 13.6% to about $80.8bn, while imports climbed too, keeping the region’s demand-and-cost story in focus. Logistics Expansion: Riyadh Cargo added new GSSA partners across Egypt, India and the UAE, widening its air-freight reach. FDI Push: EU and Verité Research hosted a dialogue on attracting quality FDI as Sri Lanka moves from recovery to growth.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result.
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