The government has paid attention to remove import restrictions imposed on a number of goods including medicines and household appliances required by several industries,
State Minister of Finance Ranjith Siyambalapitiya said.
He expressed these views after a discussion held at the Customs Headquarters yesterday (18). The revenue of Customs in the first quarter was also discussed during the meeting.
The state minister said that a thorough study is being conducted with the Economic Research Department of the Central Bank regarding the removal of restrictions on these goods.
He said that although a target of Rs.270 billion had been given to the Customs for the previous quarter, the revenue was 12 percent less than the expected amount mainly due to import restrictions.
In 2021, 485 goods including vehicles were restricted from importing while 750 items were restricted from importing in 2022. The state minister said the decline in the value of the US Dollar in March also led to the inability to reach the revenue targets.
The state minister said that they hope to introduce methods like digital technology to the Customs, and update the Customs codes in the future. “This will help successfully overcome upcoming challenges,” he said.
