Govt. kicks off stakeholder talks on tariff overhaul to support industry, exports

By Yohan Perera

The government, this week, launched stakeholder consultations on a proposed overhaul of its tariff structure, a reform the government said is aimed at strengthening domestic production, improving trade efficiency and supporting export-led growth under Budget 2026.

The discussions, held on Tuesday, form part of the government’s push to simplify the country’s import tariff regime through a new ‘Four-Band Tariff Policy’, which the officials said would create a more predictable and internationally aligned framework for businesses.

The proposed structure has been drafted in line with the United Nations Broad Economic Classification, Revision 5, a move intended to bring consistency to tariff administration while reducing complexity for the importers and exporters. The authorities expect the reforms to support domestic industries, ensure fiscal sustainability and facilitate smoother trade flows, particularly as Sri Lanka seeks to expand exports and deepen industrial competitiveness.

The stakeholder engagement process is led jointly by the Finance, Planning and Economic Development Ministry and Industry and Entrepreneurship Development Ministry, with technical participation from the World Bank and other agencies.

Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe, Treasury Secretary Dr. Harshana Suriyapperuma and World Bank Senior Economist Richard Walker were among the officials attending the programme, alongside the representatives from the trade chambers, National Tariff Policy Committee and industry advisory bodies.

The consultations are expected to continue as the government moves toward finalising tariff reforms that could reshape the import costs, industrial input pricing and export competitiveness in the year ahead.