BANK CHARGES AND FOREIGN CURRENCY LOANS

[National Chamber of Exporters of Sri Lanka]

IMPORTANT COMMUNICATION URGENT


Dear Member

BANK CHARGES AND FOREIGN CURRENCY LOANS

On 31st October 2009 the NCE wrote to Dr. P.B. Jayasundera Secretary
to the Treasury, appreciating the stand taken by the Government in
reducing interest rates, whilst inviting his attention to the adverse
effect on exporters, due to unrealistic charges imposed by banks
without an established basis and the non availability of foreign
currency loans for capital expenditure.

Currently, Foreign Currency Loan facilities are available for packing
credit. The Chamber requested the Treasury to make available Foreign
Currency Loans for capital expenditure as well.

In response the Secretary to the Treasury requested the Chamber to
provide him with a detailed list of items relating to unrealistic bank
charges and specific instances.

As such, we kindly request you to give your prompt attention to these
two important issues and provide the Chamber with the required
information.

On receipt of the information, the Chamber will prepare a detailed
report to be forwarded to the Secretary to the Treasury for his
consideration and suitable action.

Please note that the deadline to receive your responses is 10th
November 2009 after which the Chamber will prepare the report with the
available information.


Thanking you

Kind regards

Rasa Weerasingham
Executive Director
National Chamber of Exporters of Sri Lanka