Sri Lanka , the island which has been suffering from economic breakdown since it’s independence has removed import limits on around 300 items with immediate effect, the Finance Ministry said on Saturday.
One of the financial institution International Monetary Fund aided Sri Lanka in encouraging it’s foreign exchange reserves, the country also received USD 3 billion bailout package from the organisation.
‘With the economy stabilising, import restrictions on 286 items have been lifted from Friday midnight,’ the Finance Ministry said in a statement.
‘Restrictions on 928 items will continue, including vehicle imports, which were banned in March 2020,’ the statement said.
‘Imported goods can help moderate prices by providing consumers with options and lower cost alternatives,’ Shehan Semasinghe, the Minister of State for Finance, said.
