Sri Lanka’s Ministry of Labour and Foreign Employment will launch a new mobile app from May 1 to facilitate foreign remittances with an aim to boost foreign inflows from migrants.
The new app ‘Lanka Remit’ will see some duty concessions at the main airport for Sri Lankan migrant workers as incentives.
“This relief is implemented under five categories and workers who have sent an amount between $2,400 and 4,799 dollars can get an additional duty relief of 600 dollars,” Manusha Nanayakkara, the Foreign Employment Minister told a media briefing.
Workers remitted between $4,800 and $7,199 will receive an additional duty relief of $960, while between $7,200 and $11,999 receive an additional duty relief of $1,440. Workers who remit between $12,000 and $23,999 are eligible for an additional $2,400 duty waiver while those who remit $24,000 or more are eligible for an additional $4,800 duty concession.
“Anyone who has sent the relevant money to the country within a period of one year can avail this
relief,” Nanayakkara said.
The new move also comes to discourage migrant workers using informal transactions like Hawala and Undiyal.
The Minister said the move was part of the government’s goal to boost the monthly remittances to $1 billion.