News
Gazette issued on revised regulations for vehicle imports
The government has issued an extraordinary gazette notification on Monday (27,) under the Import and Export Control Act, introducing revised regulations for vehicle imports.
These regulations apply to importers and commercial banks involved in vehicle import transactions and take effect immediately, the gazette said.
Key provisions in the gazette include guidelines for the re-importation of vehicles and specific criteria for importers, gazette said.
According to the notification, the Director of Sri Lanka Customs is authorized to release vehicles for which letters of credit were issued under the Imports and Exports’ regulations between December 18, 2024, and January 27, 2025.
Additionally, vehicle imports will be permitted between December 18, 2024, and July 31, 2025, under the updated guidelines, the gazette said.
Imported vehicles must be registered with the Department of Motor Vehicles in the buyer’s name within 90 days of purchase, the gazette said.
Importers and buyers are required to submit supporting documents, including their Taxpayer Identification Number (TIN), for vehicle registration, the gazette said.
Individuals who are not registered as vehicle importers with the Department of Motor Vehicles are allowed to import only one vehicle per year, the gazette said.
Registered vehicle importers who exceed 25 percent of their approved quota within a six-month period, up to December 2025, will face a three-year ban on vehicle imports, the gazette said.
Vehicles imported in violation of the new regulations must be re-exported by the importer within 90 days at their own expense, gazette said.
The updated regulations partially ease import restrictions, allowing limited vehicle imports while maintaining strict controls over quantities and compliance.
These measures aim to regulate the vehicle import process more effectively while addressing economic and administrative concerns.
Sri Lanka limited the import of vehicles from 2020 due to foreign currency shortages. (RK)
Prime Minister Dr. Harini Amarasuriya met with the Managing Director of the International Monetary Fund (IMF), Dr. Kristalina Georgieva, at Temple Tress on the 17th of February
Dr. Georgieva, commended the Government’s efforts in stabilizing the country’s economy and in managing recent economic and natural shocks. She noted that Cyclone Ditwah had caused severe impacts, especially on economically vulnerable communities, underscoring the importance of targeted support and resilience-building measures.
The Prime Minister expressed appreciation for the IMF’s continued support to Sri Lanka, particularly in the aftermath of Cyclone Ditwah. The PM further emphasized that real economic recovery and development must directly benefit the economically vulnerable groups and ensure inclusive growth, highlighting the need for Sri Lanka to attract quality and sustainable investments, particularly in the tourism sector.
The importance of reforming the education system to focus not only on knowledge acquisition but also on skills development and employability was also discussed
The meeting was attended by the Chief of Staff of the IMF Managing Director Andreas Bauer, Director, Asia and Pacific Department, Dr. Krishna Srinivasan Division Chief (Strategic Communications), Communications Department, Pierre Mejlak Resident Representative for Sri Lanka Dr. Martha Woldemichael, Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe, and Deputy Governor Dr. C. Amarasekara, Secretary to the Prime Minister Pradeep Saputhanthri and Additional Secretary to the Prime Minister Ms. Sagarika Bogahawatta.
[Prime Minister’s Media Division]
The Cabinet of Ministers approved the resolution forwarded by the Minister of Health and Mass Media to relocate the Deniyaya Base Hospital after constructing a new hospital with a capacity of 300 beds at an estimated cost of Rupees 6,000 million.
The Southern Provincial Department of Health has acquired a plot of land in Handford estate which is approximately 03 kilometres away from the town for this purpose.
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