Existing restrictions on the importing of motor vehicles have been eased by way of an extraordinary gazette issued by the Ministry of Finance.
Accordingly, existing import restrictions on motor vehicles used for public transport including buses, lorries, tankers, bowsers and trucks, have been eased in the gazette notification in question.
Meanwhile, a proposal submitted pertaining to the easing of import restriction on several other items has also been approved by the Cabinet of Ministers.
The proposal, tabled by President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilisation and National Policies was approved by the Cabinet at a meeting held on Monday (14 Aug).
The relevant proposal was tabled by the Head of State after concurrence of the relevant parties was rendered at a discussion held with regards to lifting the existing import restrictions.
Thus, the regulations issued under the Import and Export (Control) Act No.1 of 1969 are due to be submitted for Parliament approval.
