Press briefing of Cabinet Decision taken on 2022-06-13

Issuance of a new Order under Section 22 of Foreign Exchange Act, No.22 of 2017

- Approval of the Cabinet has been granted at its meeting held on 2021‑12‑06 for issuance of an Order under Section 22 of the Foreign Exchange Act, No.12 of 2017 to impose restrictions for a period of 06 months relating to certain capital transactions which outflow foreign exchange. The validity period of the Order imposed by the Gazette Notification issued accordingly is to be expired on 2022‑07‑01. The Monetary Board of the Central Bank of Sri Lanka has recommended that issuance of a new Order would be appropriate to further continue the restrictions imposed by such Order. Accordingly, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, Economic Stabilization and National Policies to issue a new Order under Section 22 of the Foreign Exchange Act, No.12 of 2017 and thereafter submit the said Order for approval in Parliament, was approved by the cabinet.