Home » Clarification from the CBSL Governor about the imposition of import restrictions

Clarification from the CBSL Governor about the imposition of import restrictions

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Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, says that the temporary ban on the import of 305 non-essential goods is a necessary step in view of the current foreign exchange shortage in the country.

“At a time like this, we as a country have to decide whether we will use the limited amount of foreign exchange we get to buy oil, gas, medicines, or buy telephones, cars, refrigerators, and televisions. Such things can be postponed. If the people can buy essential things instead of that money, it will be a great convenience for the people, especially in a situation like this. That is one of the reasons that recently the Ministry of Finance has banned some kinds of goods which are not essential at this time. These are actually temporary things. Because of that, some businesses have some effects, it is done without really knowing it. But it is important to use the limited resources available at this time in a more efficient and useful way. After the situation is calmed down, these restrictions can be gradually removed.”

Nandalal Weerasinghe said this while addressing a meeting held yesterday (26).

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