By Sri Lanka has a staggering 1500 items on the restricted item list and the government is planning to relax imports to import the raw materials needed for local industries as well as protect the foreign reserves.
A gazette notification was issued on August 23, 2022, suspending the importation of a number of non-essential items and Finance State Minister Ranjith Siyambalapitiya said that the list would be reviewed soon.
He said that the government’s expectation is to relax the import restrictions so as to be able to import the raw materials needed for local industries
A number of businesses have had to close down due to import restrictions
