Press briefing of Cabinet Decision taken on 2023-06-26

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

- Regulations to temporarily suspend the importation of certain selected goods have been issued under the Imports and Exports (Control) Act, No. 1 of 1969 in order to ease the increasing pressure on external reserves and the financial market due to the unfavorable economic situation prevailing in the country . The necessity to remove restrictions on the importation of selected goods which could cause a minimum impact on Balance of Payment has been identified by the Central Bank of Sri Lanka and other relevant parties through the relaxation of aforesaid Regulations. Accordingly, it has been decided to remove 286 HS Codes from the list of 1216 HS Codes in the schedule of temporary suspension of imports. For the said purpose, the Imports and Exports (Control) Regulations, No. 09 of 2023 has been published through the Gazette Extraordinary Notification No. 2335/26 dated 2023‑06‑09. The proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to submit the said Regulations to Parliament, for approval, was approved by the Cabinet.