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      Cabinet nod for gazette on limiting imports

    May 29, 2020

    The Cabinet approved the gazette issued by the Prime Minister in his capacity as the Finance Minister to limit imports due to the foreign exchange crisis, said Co-Cabinet Spokesman Minister Bandula Gunawardena during the Cabinet media briefing held at the Government Information Department 28th May.

    This gazette comprised four publications as goods that could be normally imported, goods that could be imported at higher taxes under the Excise Special Provisions Law, goods that could be imported where credit is extended for 90 days and import goods that have been temporarily suspended.

    He noted that the country is facing the most severe foreign exchange crisis due to the Covid-19 pandemic and that these measures have been taken to minimize the negative effects on the exchange rate and the financial markets and rebuild the country’s economy.

    The Minister said that due to the current situation the country’s main income source, which is tourism, has taken a huge blow and foreign exchange flowing into the country has dwindled. Hence, he said these measures had to be taken to stabilize the rupee and face this foreign exchange crisis. However, if anyone is facing any issue due to these decisions they could submit an appeal to the Secretary of the Finance Ministry through email.




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