Cabinet Spokesperson Minister Vijitha Herath announced today (October 15) that the government will lift vehicle import restrictions using a carefully considered method, taking into account the country’s foreign reserves and other critical factors.
He stated that the government has a plan in place to meet the demand for vehicles while ensuring that the country’s dollar reserves remain stable.
“There is a significant demand to facilitate the importation of vehicles, and a cabinet decision has been made in that regard,” Minister Herath said. “However, we have not rushed into importing vehicles. Since coming to power, we have not allowed any vehicle imports with tax concessions.”
He emphasized that vehicle imports will be managed through a careful approach to avoid depleting the nation’s dollar reserves and to prevent a future currency crisis. “We are aiming to create space for vehicle imports in a way that meets public demand without causing harm to the economy,” he added.
