Friday Nov 29, 2024
Friday Nov 29, 2024
Tuesday, 10 October 2023 00:58 - - {{hitsCtrl.values.hits}}
The Government issued an Extraordinary Gazette, lifting all import restrictions, except those pertaining to vehicles.
The Gazette notification, bearing the signature of President Ranil Wickremesinghe, who is also the Finance, Economic Stabilisation and National Policies Minister was issued on 9 October.
According to the notification, the Controller General of Imports and Exports will issue “Operational Instructions” to the Customs Director General, licensed banks, and any other relevant authorities to ensure the smooth implementation of these regulations.
It further stipulates that the final decision on any issues arising in relation to these regulations will be made by the Imports and Exports Controller General.
Separately, State Finance Minister Ranjith Siyambalapitiya confirmed that all import restrictions, with the exception of those imposed on vehicles, were lifted with immediate effect from last night.
He added that this move is expected to drive further expansion of the economy.
The Government initially imposed bans on various items in March 2020 as part of its stringent import restrictions in response to the challenges posed by the COVID-19 pandemic.
These restrictions remained in place throughout the ensuing economic crisis, until November of the following year. Since then, the Government has gradually eased import restrictions on several items in stages.
Despite the relaxation of import restrictions on various items, the ban on vehicle imports has been retained, reflecting the Government’s strategic approach to balance economic recovery with prudent fiscal measures.
