Govt. to review suspended imports list every fortnight

14 September 2022 07:56 am - 7 - {{hitsCtrl.values.hits}}

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The government is reviewing the suspended imports list every fortnight to lessen the impact on industries, a Cabinet Minister said.

As per recommendations of the Central Bank, the government imposed a temporary ban on a wide range of goods with effect from August 23 under the Import and Export Control Act in order to manage the limited forex reserves.

The Minister of Plantation Industries and Minister of Industries, Dr. Ramesh Pathirana yesterday acknowledged that local industries are hit by this ban as they are struggling to secure necessary inputs and raw-materials.

Accordingly, he noted that the government is in discussions with the industries to provide relief as possible.
“The list of temporary banned imported items is being reviewed every two-weeks. This is only temporary and not a permanent list. Once the forex crisis is resolved, we will lift the import suspension,” he said.

Meanwhile, the Cabinet of Ministers approved a proposal presented by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilisation, and National Policies to submit the said import suspension regulations issued under the Import and Export (Control) Act No. 1 of 1969 to Parliament.

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Comments - 7

Rohith Wednesday, 14 September 2022 08:12 AM

Changing the list every fortnight will create chaos at customs and at financial institutions with remittances.

Small size exporter Wednesday, 14 September 2022 08:30 AM

We are non BOI export factory and our export orders were cancelled due to non availability of intermediate goods

Roshanaly Wednesday, 14 September 2022 08:49 AM

Started again , the importers has to bribe these Officials to get it approved.

Rasindu Abe Wednesday, 14 September 2022 09:11 AM

Government is free to put in extra tax/duty on all items it allows through. Giving exemptions to import for the noise from business will mean greater losses of dollars. Any concession to allow should be balanced with an extra 'Suspended imported exemption duty' to minimise about it. And then on top of that some good which are luxury focused for wealthier consumers, should have luxury goods import tax/duty on top of that if those are exempted as well.

joshua Wednesday, 14 September 2022 09:21 AM

How can a person do business with everything changing every fortnight? Have you all gone nuts????

Jegan Wednesday, 14 September 2022 01:26 PM

Zimbabwe, same issues in Sri Lanka. Harakpaksha should pay.

Jegan Wednesday, 14 September 2022 01:26 PM

Zimbabwe, same issues in Sri Lanka. Harakpaksha should pay.

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Govt. to review suspended imports list every fortnight

Comments - 7

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