Govt. further extends curb on outward forex capital transactions

President Ranil Wickremesinghe

The Government has decided to request the Parliament for permission to extend the directives for the temporary suspension of outward forex capital transactions by an additional six months starting on 1 July.

As per Act No. 12 of 2017, the Finance, Economic Stabilisation and National Policies Ministry have periodically announced orders for the temporary suspension/restriction of outward remittances related to certain capital transactions and mobile transfers, effective from April 2020, on the recommendation of the Central Bank of Sri Lanka.

The final order published in this regard on 22 December 2022 is scheduled to expire on 30 June. 

President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policies Minister to issue an order under section 22 of the Foreign Exchange Act No.12 of 2017, for the implementation of the said order for another six months and then to submit this order to the Parliament for approval was approved by the Cabinet of Ministers at its meeting on Monday.