Sri Lanka to Lift Most Import Restrictions, Excluding Vehicle Imports
Finance State Minister Shehan Semasinghe revealed plans to lift nearly all import restrictions, with the exception of those related to vehicle imports, starting next month. The decision reflects the government’s efforts to revive Sri Lanka’s economy, which had prompted temporary import restrictions to address economic challenges.
These restrictions had been imposed on approximately 600 product codes, affecting various categories of goods. Of these, around 270 HS codes were linked to vehicle-related imports. The State Minister emphasized the government’s commitment to rescind all import restrictions, except for those associated with vehicles, within the coming month.
Semasinghe made this announcement during a conference aimed at informing scholars, professionals, and the public about the government’s new tax policy, efforts to secure an IMF financial facility, measures to boost government revenues, and initiatives to stabilize the economy. The conference, held in Anuradhapura, featured the participation of senior officials from the Presidential Secretariat, the Central Bank of Sri Lanka, and the Finance Ministry.
Key speakers at the conference included Presidential Director General (State Revenue) M. J. Gunasiri and North Central Province Chief Secretary Chandrasiri Bandara, who shared insights into the government’s economic policies and measures to promote economic stability.