Finance Ministry to remove import restrictions except on vehicles from Oct .1

The Finance Ministry has taken measures to remove the import restrictions on all currently restricted items, except on private vehicles, from October 1, Finance State Minister Shehan Semasinghe said.

He said the decision was taken since priority should be given to essential items other than the imports of private vehicles.

The import of private vehicles can be considered after increasing the foreign exchange after the debt restructuring process is complete and the government revenue increases, he added.

"After relaxing the import restrictions on all currently restricted items, we do not think anyone will request the government to relax the private vehicle import restrictions," he said.

"If we relax all import restrictions, it will be another disaster for the economy, the State Minister said. (Chaturanga Pradeep Samarawickrama)