COLOMBO (News 1st); The People’s Bank of Sri Lanka announced that a sum of USD 6.9 Million was paid to Qingdao Seawin Biotech Group Co., Ltd, on Friday (7) as per the Letter of Credit opened for the purchase of organic fertilizer.This announcement comes three days after the Colombo Commercial High Court dissolved an order preventing the payment to a Chinese company for imported fertilizer.The order was dissolved on the basis that the Chinese company and the Sri Lankan Government had reached a settlement on the issue.Sri Lanka’s Fertilizer companies informed the court that they reached a settlement with regard to the controversial Chinese Organic Fertilizer shipment.The terms that the plaintiff companies and the defendants, namely Qingdao Seawin Biotech Group Co., Ltd, its local agent, and People’s Bank, have agreed to for the settlement are as follows.1.

People’s Bank would release 75% of the consignment value to Qingdao Seawin Biotech Group Co., Ltd in terms of the Letter of Credit.2.

Qingdao Seawin Biotech Group Co., Ltd will obtain and provide certification for the raw material ingredients, and arrange fresh samples of a new consignment of organic fertilizer to be tested.In terms of the contract, the samples should be free of pathogens and to ship the consignment only after the tested samples have been found to be in compliance with the Plant Protection Act, No.

35 of 1999, and after an Import Permit is obtained for the bulk shipment.3. The amount released by People’s Bank will be set off after Qingdao Seawin Biotech Group Co., Ltd has shipped the second consignment.The Government had earlier suspended the importation of organic fertilizer from Qingdao Seawin Biotech Group Co., Ltd.

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What is the consumer price index and how is it used to measure inflation?

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Valentine’s Day deals to get back at your ex

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COVID-19 hospitalizations decrease slightly as Alberta’s vaccine passport program officially expires

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Road closures put in place around Queen’s Park ahead of possible protest

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Smithsonian Museum is asking for pictures from Disney vacations

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Govt. program does not pay for crack pipes, White House says

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COVID-19: Ontario health minister says ‘not in the clear’ yet to end proof of vaccination, masking

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The Healing: Black men yoga takes shape to combat mental health

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Green Day singer Billie Joe Armstrong's stolen classic car recovered in OC

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Camden officials distribute KN95 masks, as slow rollout of free masks nationwide begins

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Lanarkshire locals encouraged to beat winter blues with health walks

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Global COVID cases top 400 million as levels decline again

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North Korea claims it can hit US, 'shake the world' with missile after month of increased testing

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Sri Lanka to import fertilizer again from Qingdao?

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People’s Bank removed from China Embassy blacklist

COLOMBO (News 1st); Sri Lanka’s People’s Bank has been removed from the blacklist of the Economic and Commercial Office of the Chinese Embassy in Sri Lanka, it was confirmed on Tuesday (11).On the 9th of January 2022; The People’s Bank of Sri Lanka has informed the Chinese Embassy in Sri Lanka of its request to be taken off the blacklist by the Embassy’s Economic and Commercial Office over the Chinese Fertilizer shipment that was rejected by Sri Lanka, after pathogens were detected in samples twice.This is after People’s Bank honoured the Letter of Credit obligation of USD 6.9 Mn to China’s Qingdao Seawin Biotech Group.The People’s Bank of Sri Lanka announced that a sum of USD 6.9 Million was paid to Qingdao Seawin Biotech Group Co., Ltd, on Friday (7) as per the Letter of Credit opened for the purchase of organic fertilizer.This announcement came days after the Colombo Commercial High Court dissolved an order preventing the payment to a Chinese company for imported fertilizer.The order was dissolved on the basis that the Chinese company and the Sri Lankan Government had reached a settlement on the issue.The People’s Bank of Sri Lanka was then blacklisted by the Economic and Commercial Office of the Chinese Embassy in Sri Lanka for failing to make the payment according to the Letter of Credit and the contracts between the two parties.

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‘Take us off blacklist’: People’s Bank tells China after honouring USD 6.9 Mn payment

COLOMBO (News 1st); The People’s Bank of Sri Lanka has informed the Chinese Embassy in Sri Lanka of its request to be taken off the blacklist by the Embassy’s Economic and Commercial Office over the Chinese Fertilizer shipment that was rejected by Sri Lanka, after pathogens were detected in samples twice.This is after People’s Bank honoured the Letter of Credit obligation of USD 6.9 Mn to China’s Qingdao Seawin Biotech Group.The People’s Bank of Sri Lanka announced that a sum of USD 6.9 Million was paid to Qingdao Seawin Biotech Group Co., Ltd, on Friday (7) as per the Letter of Credit opened for the purchase of organic fertilizer.This announcement comes three days after the Colombo Commercial High Court dissolved an order preventing the payment to a Chinese company for imported fertilizer.The order was dissolved on the basis that the Chinese company and the Sri Lankan Government had reached a settlement on the issue.The People’s Bank of Sri Lanka was then blacklisted by the Economic and Commercial Office of the Chinese Embassy in Sri Lanka for failing to make the payment according to the Letter of Credit and the contracts between the two parties.

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'Surprising' reason some young people are afraid to get Covid vaccine according to new study

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More than 43,000 boosters administered yesterday; 37 people in hospital; 3 in ICU

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People’s Bank to pay USD 6.9 mn to Chinese fertilizer company on Friday (7)

COLOMBO (News 1st); The People’s Bank of Sri Lanka announced that a sum of USD 6.9 Million will be paid to Qingdao Seawin Biotech Group Co., Ltd, on Friday (7) as per the Letter of Credit opened for the purchase of organic fertilizer.This announcement comes 48 hours after the Colombo Commercial High Court dissolved an order preventing the payment to a Chinese company for imported fertilizer.The order was dissolved on the basis that the Chinese company and the Sri Lankan Government had reached a settlement on the issue.Sri Lanka’s Fertilizer companies informed the court that they reached a settlement with regard to the controversial Chinese Organic Fertilizer shipment.The terms that the plaintiff companies and the defendants, namely Qingdao Seawin Biotech Group Co., Ltd, its local agent, and People’s Bank, have agreed to for the settlement are as follows.1. People’s Bank would release 75% of the consignment value to Qingdao Seawin Biotech Group Co., Ltd in terms of the Letter of Credit.2.

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People’s Bank to pay USD 6.7 mn to Chinese fertilizer company on Friday (7)

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“I am ready to take tough or bold decisions to fulfill the aspirations of the people” – President

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
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People’s Bank pays USD 6.9 mn Qingdao Seawin

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