Press briefing of Cabinet Decision taken on 2022-11-28

Issuance of Regulations under the Foreign Exchange Act, No.12 of 2017, to accommodate Short Term Foreign Loans from overseas to finance payments for the import of raw materials by Local Subsidiaries

- The proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to impose Regulations under section 7(1) of the Foreign Exchange Act, No.12 of 2017 to facilitate the payments utilizing the foreign exchange remitted by mother companies of local subsidiaries located outside Sri lanka or companies within the same group of companies, when importing raw materials by the said local subsidiaries to produce goods for the local market, was approved by the Cabinet.