Business
Sri Lanka to further relax import restrictions
By Sanath Nanayakkare
More import relaxations will be announced in the near future to help producers of goods and services and support exporters and importers conduct their businesses smoothly, State Minister of Finance Ranjith Siyambalapitiya told the media yesterday.
He, however, said that imports won’t be allowed freely and will further be subject to the monitoring of the Finance Ministry as required.
‘Sri Lanka’s foreign reserves are now more than USD 3 billion and we are in a more comfortable situation to allow some more essential imports by curtailing the current restrictions on imports. This will be methodically done in order to boost international trade while leaving enough space for domestic substitution of goods. The government will keep its trade policies transparent for all stakeholders’ benefit,” the State Minister said.