The Milk Powder Importers Association said stocks of powdered milk stranded at the Colombo port can be released if commercial banks release the US dollars received from the Central Bank as part of the transactions made today.
Association member Lakshman Weerasuriya said obstacles to the release of powdered milk containers due to the dollar shortage are now lifted with the intervention of the Central Bank.
He further said that if foreign currency is received from the three commercial banks they trade with, the powdered milk stocks can be released within the next two days.
With the recent forex crisis, a number of containers with essential food items, including powdered milk, were stranded in the port of Colombo and the Prime Minister called for immediate action to be taken to release these containers.
As a result, the governor of the Central Bank recently took steps to release dollars to two state banks.
However, importers also demanded that facilities be provided to also obtain dollars from private banks.
As a result, it is reported that the Central Bank of Sri Lanka will now direct the exchange of dollars to commercial banks.
Faced with this situation, it will be possible to release 360 tonnes of powdered milk stuck in the port of Colombo.