Sri Lanka President relaxes import ban | Sinhala News

Sri lanka News – Sri Lanka President Ranil Wickremesinghe has lifted import controls on over 150 items banned in August and allowed others to come in under licenses or special approval in a gazette notice issued in September.

An import ban on 159 items including industrial machinery, a series of building materials, machine parts, tools, ball bearings, agricultural implements, toilet paper has been lifted in a gazette issued under Sri Lanka’s import control law effective September 09.

However squatting pan imports have been banned. The ban was imposed supposedly to ‘save foreign exchange’. Forex shortages are a problem associated with intermediate regime central banks (soft-pegs or flexible exchange rates) and are absent in hard pegs or clean floats.

Sri Lanka’s industries and small enterprises which are already operating under difficult conditions due to complained that they were further hit by the import ban on over 300 items slapped in August.

Download September import control Sri-Lanka-Sept-import-gazette

Some raw matertials and capital goods require for factories could be imported on a recommendation of the Secretary of the Ministry of Industries.

Accessories needed for fisheries would be allowed on a recommendation of the Secretary of the Ministry of Fisheries.

Franchise holders and operators of international chains would be allowed to import under a license by the Controller General of Imports and Exports.

Imports for duty free sales and re-export will also be allowed. (Colombo/Sept14/2022)

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