5 March 2022 12:00 am Views - 203
A request will be submitted at the next cabinet meeting, requesting to pay at least Rs.240 per dollar for remittances sent to Sri Lanka by foreign workers, Labour Minister Nimal Siripala de Silva said.
During the Sinhala Hindu New Year, many Sri Lankans working overseas used to send more money for their families to spend.
“With the current dollar situation in the country, many Sri Lankans working overseas are sending their money home in illegal ways, thereby seriously affecting the foreign reserves of the country,” he said.
Sri Lankans working overseas will be able to send their money through local banks if they pay at least Rs. 240 per US dollar, the Minister said.
Accordingly, the Minister is to propose to the Cabinet to increase the current incentive allowance of Rs. 10 per dollar by another Rs.30.
Therefore, the Finance Ministry in collaboration with the State Banks and Commercial Banks, have decided to formulate a formal programme to facilitate the remittance of dollars for the benefit of Sri Lankans working overseas as well as the local economy.