In the wake of the dollar crunch and the worst-ever financial crisis to hit Sri Lanka since it gained independence in 1948, the government on August 23 banned the import of 1,465 items…reports SUSITHA FERNANDO
Sri Lanka has lifted a ban on 10 products related to security, tourism and sports which were restricted due to the economic crisis.
State Finance Minister Ranjith Siyambalapitiya announced that the restrictions imposed on security equipment required for CCTV systems, energy drinks that is required for tourism, imported wood for the production of furniture and construction and sport items would be relaxed effective from Tuesday.
In the wake of the dollar crunch and the worst-ever financial crisis to hit Sri Lanka since it gained independence in 1948, the government on August 23 banned the import of 1,465 items.
“Due to the restriction, within three months, the government could save $1211 million,” the Minister said, adding that the decision had to be taken as a solution to the foreign currency crisis the country had been facing.
In 2020, Sri Lanka has spent $16,055 million for imports while it increased to $20,637 million in 2021.
This is the third time that Sri Lanka has relaxed the ban imposed on imports.
On September 9, restrictions on 708 items were lifted, while on November, 23 the ban on 77 items was eased.