‘Conduct tea auctions in USD’

The Tea Entrepreneurs Association requested the Minister of Plantain and top officials of the tea industry to conduct the Tea Auction by conducting in US dollars.

Holding a special press conference on Friday Laknath Sannasuriya from the Association said that the industry collectively netted around USD 5.5 million in revenue in the last 5 months from exports. “However this revenue seems to have not registered with Sri Lankan government coffers and there was something radically wrong in the process.”

We think that as a solution for this the tea auction could be held using US dollars which will enable the country to have better disposal of USD to purchase fuel and other essentials. “Several new legislations have already been brought to open out the petroleum imports and a similar regulation should be introduced to conduct the tea auction in USD.” they said.