The Sri Lankan Government is considering lifting restrictions imposed on vehicle imports, subject to conditions, it was reported.
According to NewsFirst, a senior spokesperson for the Ministry of Finance said plans are underway to lift the vehicle import restrictions, subject to conditions, by the end of 2024 or the beginning of 2025.
The senior Finance Ministry spokesperson further said that recommendations from the Committee appointed by President Ranil Wickremesinghe in this regard would also be considered when arriving at a final decision on the matter.
The move comes at a time when State Minister of Finance Shehan Semasinghe had also recently revealed that discussions were ongoing related to the restrictions imposed on vehicle imports.
Earlier this month, State Minister of Finance Ranjith Siyambalapitiya also announced that the ban imposed on the importation of vehicles will continue to be relaxed in phases going forward.
State Minister Siyambalapitiya told the media that the government has taken to relaxing the vehicle import ban in phases based on the requirements of various sectors.
Sri Lanka imposed a ban on vehicle imports following the impacts of the coronavirus pandemic in 2021/2022 and continued with the decision due to the subsequent economic crisis faced by the nation.
However, the government commenced providing exemptions to vehicle imports in phases from 2023 subject to conditions and based on the necessities of various sectors, such as health and tourism. (Newswire)