Press briefing of Cabinet Decision taken on 2020-11-30

Extending the validity period of the Order issued under section 22 of the Foreign Exchange Act No. 12 of 2017 on restriction of Foreign Exchange Outflows

- The Cabinet, at its meeting held on 2020‑06‑24 granted approval to issue an Order valid for a period of 06 months under section 22 of the Foreign Exchange Act No. 12 of 2017 to impose restrictions relating to outward foreign exchange capital transactions. Accordingly, the said Order has been imposed by the Gazette Extraordinary Notification dated 2020‑07‑02 and its validity period will expire on 2021‑01‑01. It has been found that it would be appropriate to extend the period of the same for another 06 months. The proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance to take necessary action accordingly, was approved by the Cabinet.