Press briefing of Cabinet Decision taken on 2022-10-10

Submission of Regulations issued under the Imports and Exports (Control) Act, No.1 of 1969 for approval in Parliament

- Imports Control Regulations on Payment Terms No.15 of 2022 have been issued pertaining to the importation of goods under the Open Account System and Imports and Exports (Control) Regulations No.16 of 2022 have been issued in order to encourage the remittance of foreign exchange by Sri Lankans employed abroad. Accordingly, Imports Control Regulations on Payment Terms No.15 of 2022 imposed to enact the importation of essential food items including milk powder and red whole lentils and raw materials required for manufacturing poultry feed based under Open Account/Consignment Account Payment System have been promulgated in the Gazette Extraordinary Notification No.2297/79 dated 2022‑09‑16. Further, Imports and Exports (Control) Regulations No.16 of 2022 imposed to enable the Sri Lankans serving abroad to import fully electric vehicles as an incentive have been promulgated in the Gazette Extraordinary Notification No. 2298/55 dated 2022‑09‑23. As such, the proposal made by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to present the said Imports and Exports (Control) Regulations, in Parliament, was approved by the Cabinet.