Ban on saree imports lifted sans batik and handloom garments

The government last week lifted the lid on a yearlong import restriction on sarees as the New Year season approaches and the economy is getting a reboot from resumption of gatherings, which involve in-person contact such as weddings, parties and family reunions. 

However, the government left the lid on batik & handloom garments and textiles as they were identified as priority domestic industries, which must be nurtured to become large global industries. 

The government even went to the extent of appointing a designated ministry for that industry.  

With the lifting of the import ban, traders can now import sarees on 90-day loan basis, the government said. 

The government didn’t specify whether they had tweaked the duty structure on saree imports, which was applicable until imports were suspended at the onset of the pandemic last year. 

The authorities expect the ongoing shopping season to give a fresh impetus to the economy. Consumer spending accounts for more than two-thirds of the Sri Lankan economy, and thus could be a long awaited catalyst for its reboot. 

Simultaneously the government last week lifted the ban on ceramic product imports, though importers will have to pay higher import taxes