Friday Jul 10, 2026
Friday Jul 10, 2026
Wednesday, 8 July 2026 00:01 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers at their meeting on Monday approved submitting two recently gazetted import and export control regulations to Parliament for approval, with the measures aimed at protecting local industries and strengthening oversight of international trade transactions.
One of the regulations makes it mandatory to obtain an export control licence for the export of discarded metal products, various metal models and scrap metal to curb illegal exports and safeguard domestic industries.
On 30 March 2026, the Cabinet of Ministers approved the measure initially, which the Import and Export (Control) Regulations No. 05 of 2026 were published in Extraordinary Gazette No. 2493/03 dated 15 June 2026 to give effect to the decision.
The Cabinet also approved the submission to Parliament of the Import and Export (Control) Regulations No. 06 of 2026, published in Extraordinary Gazette No. 2493/39 dated 18 June 2026 under the provisions of the Import and Export (Control) Act No. 1 of 1969.
The new regulations amend the Special Import Licence and Payment Regulations No. 1 of 2011 by introducing provisions requiring goods imported under the prepayment system to be brought into Sri Lanka within prescribed timeframes of 180, 365 or 730 days from the date of payment, depending on the applicable category.
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa addressing the weekly post-Cabinet meeting yesterday said the amendments are intended to strengthen the regulation of imports conducted under the internationally recognised prepayment system, while ensuring timely receipt of goods imported into the country.
The proposal to this effect was presented by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development Minister.
