Thu, 28 Mar 2024 Today's Paper

SL managed to save over US$ 1.2bn in forex through import restrictions

18 January 2023 07:14 am - 4     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka was able to save over US$ 1.2 billion in foreign exchange in the first three months of restrictions on import of goods, State Finance Minister Ranjith Siyambalapitiya told parliament yesterday. 

On August 23, 2022, the government decided to restrict the import of 1, 464 items which were deemed non-essential to save foreign exchange.
However, since then the government relaxed restrictions on 780 items in September, November and December based on the studies carried out by the Finance Ministry and the Central Bank. 


Lobbying by various industry groups, business chambers and Board of Investment, has also been a major reason for the relaxation.

Meanwhile, Siyambalapitiya said the government was not ready to adopt an inflexible approach regarding import restrictions. 

He expressed these views in parliament yesterday presenting a proposal to obtain approval for several gazette announcements and orders issued with regard to import and export restrictions.


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 4

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
  • Premalal Perera Wednesday, 18 January 2023 07:28 AM

    Maybe but the economy contracted by around 10 to 12 percent making people's lives miserable. Many have lost their jobs, and are unable to make ends meet. If all you have to show for "Governing" the country is this, then you are in the wrong business.

    Citizen k Wednesday, 18 January 2023 08:32 AM

    Minister what about items imported being used to produce export goods?

    Sunil Wednesday, 18 January 2023 10:32 AM

    However, people had to forego their needs, some of which were basic. What savings is that?

    Konar Wednesday, 18 January 2023 12:02 PM

    Import restriction was another outcome of the ‘Aragalaya’ , those people wanted govt to provide funds for their basic needs


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H