CEYLON CUTS LICENSES
NON-STERLING AREAS COLOMBO, Aug. 22. The Government of Ceylon has withdrawn all open general licenses for purchases from non-sterling countries. The order is intended to save 40,000,000 dollars. Sir Oliver Gonnetilleke, the Ceylon Financial Secretary, explaining the decision, said Ceylon wished to help tiding over Britain’s financial crisis and to rectify her own badly adverse trade balance. They were restricting the use of dollar exchange in the case of outstanding orders, while new licenses for imports from non-sterling areas would be confined to food and other essential items. The Government was preparing a comprehensive plan covering imports from all areas. More drastic action to adjust Ceylon’s growing adverse trade balance would be inevitable.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22416, 25 August 1947, Page 5
Word Count
116CEYLON CUTS LICENSES Gisborne Herald, Volume LXXIV, Issue 22416, 25 August 1947, Page 5
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