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

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

- Orders have been issued from time to time as per the provisions of the Foreign Exchange Act to suspend/restrict the foreign exchange outflow pertaining to the certain capital transactions taking into account the negative impact that may cause to the foreign exchange market. The validity period of the currently issued Order would expire on 2022‑12‑29. Therefore, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economy and Policy Development to take necessary action to extend the validity period of the Order issued under section 22 of the Foreign Exchange Act, No.12 of 2017 for another period of six (06) months with effect from 2022‑12‑30, was approved by the Cabinet.