Sri Lanka suspends importing of non essential items except fuel and medicine
Sri Lanka’s Co-Cabinet Spokesperson, Minister Ramesh Pathirana has announced that the government of Sri Lanka has decided to suspend the importing of all non-essential imports except fuel and medicine.
The government decision has come amidst the country’s battle against the global Covid 19 pandemic and the pressure on the country’s currency.
“The government has decided to ban and limit non-essential imports except essential drugs and fuel,” Pathirana has told the media.
Meanwhile, Co-Cabinet Spokesperson, Minister Bandula Gunawardena has told the media that while the government of Sri Lanka had taken steps to reduce imports of vehicles and other non-essential goods, it was not going to take steps to impact necessary imports including fuel, medicine, essential goods and intermediate goods needed by exporters.
“At a point when the Government is in need of more foreign exchange, there is no logic in limiting imports needed as raw material for exports. Such value addition is important and if any exporters find it difficult to access what they need, we request them to get in touch with the Export Development Board (EDB) immediately,” the Minister has explained.
OSL take:
The government of Sri Lanka has given much prominence to the importing of fuel and medicines in order to ensure the country has a continuous supply of essential facilities. Foreign businesses could therefore explore opportunities in selling fuel and medicines to Sri Lanka. Also, foreign businesses and discerning foreign investors could explore opportunities of setting up industries to manufacture certain non-essential items that have a good local market. Such a venture could be launched as a joint venture/partnership with a local company.
| Article Code : | VBS/AT/20200406/Z_2 |