How leading export nations manage political stability and policy consistency was highlighted by CEO & Head of Banking & Coverage at Standard Chartered Bank Sri Lanka Bingumal Thewarathanthri at the Exporters’ Association of Sri Lanka (EASL) 27th Annual General Meeting (AGM) recently. He also shared insights on South-South trade and Sri Lanka’s global export performance.
Thewarathanthri stressed on the need to ensure that the SVAT scheme is continued for exporters, at least until such time as there is a proven refund system that has minimum human intervention. “The pitfalls of the earlier VAT fraud of some Rs. 3.5 billion that occurred in the cash refund system that predated the introduction of SVAT.”
The event marked a transition in leadership, with Yohan Lawrence, Consultant – Nidro Supply (Pvt) Ltd. being elected as the new Chairman. Alongside him, Rozanne de Almeida, Head of Trade, Hatton National Bank PLC and Nalaka Rathnayake, Deputy General Manager, Group Freight Management, Hayleys PLC were appointed as Vice and Vice Chairpersons.
Chairman Yohan Lawrence recalled that EASL has addressed critical issues such as mandatory conversions and the SVAT system. Post-COVID, the EASL continues to advocate for a favourable business environment, tackling challenges like high electricity tariffs, market access, and bureaucratic hurdles. He urged members to engage with the EASL to influence the export landscape positively.
Addressing the audience, Immediate Past Chairman Ranil Goonetilleke outlined the EASL’s collaborative efforts with organizations such as the Shippers Council of Sri Lanka, the National Chamber of Exports, and the Joint Apparel Association Forum Sri Lanka to tackle export issues, including operational inefficiencies and slow digitalisation.
The following member companies and associations were elected to the Managing Committee 2024/ 2025 at the AGM.
Ceylon Biscuits Ltd, Sampath Bank, Tissa Brush Manufacturers & Exports, Meezan & Company Ltd, Nidro Supply Ltd., Hayleys, Hatton National Bank, Tea Exporters’ Association, Tea Tang Ltd, Lion Brewery Ceylon, Midas Safety Lanka Ltd, K.I.K Lanka Ltd, The Spices & Allied Products Producers’ and Traders’ Association, Dipped Products, Expolanka Freight Ltd, The Sri Lanka Association of Software and Service Companies, Sri Lanka Apparel Exporters Association, Bogala Graphite Lanka, Nation Trust Bank, Shums & Company Ltd, Hela Apparel Holdings, Atlas Axilla Co., Ltd, David Pieris Renewable Energy Ltd, Stassen Exports Ltd, A. Baur & Co Ltd, Colombo Rubber Traders’ Association, Exporters’ Association of Coconut Based Substrates, Lanka Fruit and Vegetable Producers, Processors and Exporters Association, Sea Food Exporters Association, Sri Lanka Gem and Jewellery Association.
The post Need to continue SVAT stressed at EASL AGM appeared first on DailyNews.