Import control of 300-400 items to be removed this week

Sri Lanka is making plans to remove import controls on 300 to 400 items next week beginning Monday, State Minister for Finance Ranjith Siyambalapitiya has said.Strengthening of the rupee has allowed import controls to be removed, he said in a statement adding that there were about 1,200 items under import control now.

In 2021 and 2022 when import controls were less rigid, imports like building materials and investment goods surged amid money printing while about 3,000 items were controlled.The items that are allowed in will be useful as inputs to small and medium enterprises, the state minister said. (EconomyNext)