The Committee on Public Finance (COPF) has raised concerns over the Central Bank of Sri Lanka's (CBSL) recent decision to shorten the period granted to exporters for converting export proceeds into Sri Lankan Rupees, warning that the measure could undermine market confidence and contribute to volatility in the foreign exchange market.
The matter was raised when the COPF met in Parliament under the Chairmanship of Member of Parliament (Dr.) Harsha de Silva.
During the meeting, CBSL officials informed the committee that the decision was taken in response to exchange rate fluctuations, foreign exchange market instability, and a shortage of foreign currency liquidity.
According to the Central Bank, the measure is intended as a temporary policy tool to address exchange rate volatility and improve foreign exchange availability. Officials said the requirement would be relaxed once market conditions stabilize.
Meanwhile, during the meeting, the Committee on Public Finance also granted approval for the Rules published in Extraordinary Gazette Notifications No. 2479/54 dated 12 March 2026 and No. 2492/10 dated 09 June 2026, made under the Central Bank of Sri Lanka Act, No. 16 of 2023 following its consideration.
