Import ban help to save $ 2.5 b: State Minister of Finance

Monday, 30 January 2023 00:31 - - {{hitsCtrl.values.hits}}

State Minister of Finance Ranjith Siyambalapitiya yesterday revealed that the country was able to retain $ 2.5 billion due to enforcing an import ban on certain items.

Speaking at the International Customs Day at its headquarters yesterday, he said though some goods are now not allowed for import, there is no shortage of essential items like fuel, medications, or fertiliser.

Noting that Sri Lanka should never experience an economically challenging year like 2022, Siyambalapitiya added that some people are behaving in a way that suggests they have forgotten the hardships of last year, which passed amid economic and political turmoil.

“We must thank the officers of the Customs Department who have reached their revenue targets despite such crises. We have other ways to restrict imports such as taxation, but we took the most difficult decision and completely banned the import of 1,465 items. Though restrictions on certain items were relaxed on several occasions, another 685 items are still banned from importing into the country,” State Minister of Finance added.