The government policy of restricting the importation of private vehicles would remain unchanged until foreign reserves build up to a satisfactory level, a senior Minister said.
State Finance Minister, Ranjith Siyabalapitiya told the Times Online that in order to allow the importation of vehicles into the country, foreign reserves should be maintained over USD 6 Billion. Meanwhile, the Central Bank of Sri Lanka (CBSL) said today that its gross foreign reserves are estimated to be at USD 3.5 billion in September including a swap facility from China.
The State Minister further added that the government would further restrict personal vehicle importation through the 2024 budget as well. He added that currently, Sri Lanka is economically unable to allow vehicle importation as it would cost USD 2 Billion annually.
The Minister said that currently the Finance Ministry is building up foreign reserves and is planning to build up USD 3.8 Billion of foreign reserves through the 2024 budget.
Earlier State Minister Shehan Semasinghe said that import restrictions on another 299 items including 67vehilce types used for commercial use will be relaxed in the coming weeks.
Tamar Amitai, a 25-year-old Israeli tourist who went missing in Uppuveli, Trincomalee, was found safe after a three-day joint search operation today.
President Ranil Wickremesinghe is firm about the President’s five-year tenure, the President’s Media Division (PMD) said.
Individuals who have obtained a Taxpayer Identification Number (TIN) yet do not meet the cutoff, can choose to remain tax exempt after notifying the IRD in writing, provided that their monthly income does not surpass the threshold, according to the State Minister of Finance Ranjith Siyambalapitiya.
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