State Minister of Finance, Ranjith Siyambalapitiya, announced the establishment of a committee tasked with assessing the potential lifting of import restrictions on vehicles in Sri Lanka.
Addressing reporters, Siyambalapitiya underscored that any relaxation of restrictions would be gradual and contingent upon the nation's foreign reserves increasing. He highlighted the government's ongoing efforts to ease import constraints, noting the initial restriction on approximately 1,500 to 2,000 items, with vehicle imports remaining the sole restricted category.
Notably, permissions have been granted for the import of 250 buses and 750 vans, particularly to support the tourism sector. Siyambalapitiya reaffirmed the government's commitment to informed decision-making, stating that measures are based on comprehensive reports and investigations.
With improvements in reserves, he noted a positive impact on the Sri Lankan Rupee. Additionally, Siyambalapitiya stressed that any relaxation of import restrictions would prioritize essential needs.
The appointed committee is conducting thorough analyses on essential vehicles, including brand compatibility, fuel consumption, and suitability for Sri Lanka's road infrastructure, ensuring decisions align with national priorities.
