1 – Sri Lanka, recently lifted its import restrictions on several products as part of its COVID-19 economic
revival plan.
A – In addition, it will help strengthen the domestic supply chain to avoid dependency on imports.
B – The guidelines regarding this stated ” the ban on import of motor vehicles, including motor cycles and three wheelers to be continued with an exception of vehicles used in agriculture, services and construction.”
C – The ban on motor vehicle imports was retained.
D – The temporary ban on the importation of products due to a foreign exchange crisis, was first imposed in April this year.
E – Country’s economic revival plan aims to stabilize the exchange rate.
7 – As a part of the economic revival plan, the special commodity levy will be maintained at higher levels on several items to encourage local production.