Monday Jun 08, 2026
Monday Jun 08, 2026
Monday, 8 June 2026 02:33 - - {{hitsCtrl.values.hits}}
As stakeholders of the Sri Lankan economy, all chambers of commerce, trade associations, industrial sectors, and business leaders should come together at this important stage of economic recovery and engage constructively with the Government, Cabinet of Ministers, and policymakers.
Sri Lanka has only recently emerged from one of the most difficult foreign exchange and economic crises in its history. Therefore, it is essential that we adopt responsible economic and import management policies until the country achieves a stable and sustainable recovery.
At present, serious attention should be given to controlling the large-scale importation of non-essential commercial consumer goods which place unnecessary pressure on the country’s valuable foreign exchange reserves. Priority should instead be given to the importation of:
Further consideration may also be given to limiting luxury and non-essential commercial imports temporarily, while allowing reasonable quantities of personal-use consumer goods for the public.
In addition, policymakers may review the current foreign currency outflow mechanisms, including large passenger foreign exchange allowances, until Sri Lanka reaches stronger reserve stability and long-term economic confidence.
As responsible stakeholders, chambers and trade bodies should collectively present practical recommendations through discussions, press conferences, and policy forums to support national economic protection, reserve management, local industries, and employment generation.
At this stage, national economic discipline, controlled spending of foreign exchange, and productive investment are essential to avoid another period of financial instability or recession.
The objective should not be to restrict trade unnecessarily, but to ensure that Sri Lanka’s foreign exchange resources are utilised carefully, productively, and sustainably until the country achieves full economic stability.
(The author is President of Customs House Association (CHA) Traders Association)
