Stakeholder engagement on proposed tariff reforms has commenced as part of the implementation of the 2026 Budget proposals aimed at supporting domestic industries.
The initiative is being jointly carried out by the Ministry of Finance, Planning and Economic Development, the Ministry of Industry and Entrepreneurship Development, the World Bank, and other relevant agencies. Its primary objective is to raise awareness of the proposed Four-Band Tariff Policy.
As part of this effort, the Department of Trade and Investment Policy organized an Awareness and Consultative Programme on February 10, 2026, at the Galle Face Hotel in Colombo, engaging key stakeholders in the ongoing policy development process.
The event was attended by Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Secretary to the Treasury Harshana Suriyapperuma, Secretary to the Ministry of Trade K. A. Vimalenthirarajah, and Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara.
Richard Walker, Senior Economist at the World Bank Group, and other World Bank representatives were also present, along with senior officials from the Ministry of Finance, Planning and Economic Development, including A. K. Senavirathna and A. N. Hapugala, both Deputy Secretaries to the Treasury.
Representatives from the National Tariff Policy Committee, the Industry Advisory Committee, trade chambers, and other government institutions participated in the session.
The programme aimed to provide an overview of the proposed tariff reforms and to gather feedback from stakeholders through consultation and dialogue.
The proposed tariff structure, aligned with the United Nations’ Broad Economic Classification (BEC) Revision 5, is designed to promote export growth, strengthen domestic industries, facilitate trade, and ensure fiscal sustainability. (Newswire)