News
Cheaper year old vehicles for tourist industry
The buses and vans that Sri Lanka plans to import for the tourism sector will be a year old, as opposed to brand new vehicles that would cost more, and also subject to tax as usual, State Minister of Finance Ranjith Siyambalapitiya said last week.
He told the media that the country’s rapidly recovering tourism industry needs to follow the same global standards which don’t allow for vehicles more than six years old.
“In 2020, vehicle imports were stopped due to the foreign exchange crisis in the country as our biggest forex expenditure was for vehicle imports. But we allowed for some imports under special circumstances from time to time. For example, to meet the needs of the Health Ministry and other ministries. Now the tourism industry is faced with such an essential need,” he said.
“The vehicles we already have are aging, and they’re also not enough. So the Cabinet decided to allow the import of 250 buses and 750 vans specifically for the tourism industry,” he said.
The State Minister said the Import and Export Control Department will issue a circular, announcing the issuance of licenses for the planned imports.
“We will allow the import of year-old vehicles, because year-old vehicles are sold at a much lower price than brand new vehicles. This was a decision taken to save on foreign exchange.
“There is also no tax relief provided for these imports. They will be taxed as usual. The purpose here is only to bring in vehicles for tourism,” he said.
Approval of the Cabinet of Ministers was granted to the preparation of the Appropriation Bill for the financial year of 2027 at their meeting held on 30.06.2026.
Accordingly, clearance of the Attorney General has been given to the Appropriation Bill prepared by the Legal Draftsman.
Therefore, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and thereby submit the same to the Parliament for its concurrence.
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Cabinet approves aditional Rs. 2,500 million to the Paddy Marketing Board to purchase 2026 Yala harvest
The Cabinet of Ministers has approved the resolution furnished by the Minister of Agriculture, Livestock, Land and Irrigation to provide an additional Rs. 2,500 million to the Paddy Marketing Board on a reimbursable basis from the Rs. 7,500 million additional allocations granted to the Ministry to implement
the expedited paddy purchasing program for the 2026 Yala harvest.
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Cabinet nod to host the 8th Asian Regional Conference of the Commonwealth Parliamentary Association and the 3rd Joint Asian and South-East Asian Regional Conference of the Commonwealth Parliamentary Association
The 8th Asian Regional Conference of the Commonwealth Parliamentary Association (CPA) and the 3rd Joint Asian and South-East Asian Regional Conference of the CPA are planned to be held over three days in Colombo during April/May 2027.
Approximately 90 delegates including speakers, Deputy Speakers, Member of Parliamentarians, and Parliamentary officers representing member countries of the Commonwealth Parliamentary Association, in the Asian and South-East Asian regions, are expected to participate in these conferences.
The Cabinet of Ministers has approved the resolution furnished by the Prime Minister of the Parliament of Sri Lanka to host the said conferences considering the opportunities to strengthen parliamentary diplomacy and regional cooperation, as well as to enhance international recognition of the Parliament of Sri Lanka within the Commonwealth Parliamentary Association.
Draft of the Appropriation Bill for the Financial Year 2027 submitted to the Parliament
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