SMEs urge President to slap temporary ban on non-essential imports

Tuesday, 26 May 2026 05:20 - - {{hitsCtrl.values.hits}}

Claim clothing imports alone range from $ 75-150 m per month

The Ceylon United Business Alliance (CUBA), a collective of small and medium businesses (SMEs), has written to President and Finance Minister Anura Kumara Dissanayake calling for a temporary ban on non-essential imports to protect dollar reserves and local industries from escalating pressures from global supply shocks caused by the Middle East crisis.

The CUBA said: “Sri Lanka is again facing a severe USD shortage. Before it is too late, we respectfully request the Government to immediately impose a temporary ban on non-essential imports, similar to the action taken in 2023.

SMEs...

“Consumer products that can be manufactured locally must be restricted, especially where local industries can supply 70% or more of demand.

“Priority sectors to restrict: Apparel, footwear, tiles, plastic products, processed food, furniture, and other locally producible consumer goods. By restricting apparel imports alone, the Government can retain around $ 75 million to $ 150 million per month.

“At the same time, essential imports and production inputs must continue without disruption, including raw materials, intermediate goods, fabric, fuel, rice, medicine, machinery, tourism-related requirements, and steel.

“This urgent action will save USD, protect employment, prevent local industry collapse, and help avoid another economic crisis. We request Your Excellency to treat this matter as an immediate national priority.”