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SL needs to change archaic legislation of key financial institutions – FM

Minister of Finance and Mass media Mangala Samaraweera says the current Custom ordinance is archaic and complex and need to change the old legislation if the country is to become a global trading hub.

Speaking at the inauguration of the new Container Scanning System for the Sri Lanka Customs at the Colombo Port premises, Minister Samaraweera said the government plans to introduce a new Customs Ordinance to replace the old legislation.

“Technology plays a crucial role in driving the efficiency and efficacy of the function of the Sri Lanka Customs,” he said adding that the new Container Scanning System will help reduce the time taken for cargo inspection and enable a more robust approach to Customs procedures.

The Minister noted that in line with the government policy of further integrating Sri Lanka into the global economy as a vibrant nation, the role of Customs become even more important as a facilitator of trade, securing the borders and as a key revenue collector.

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