He also stated that permission for commercial vehicle imports will be granted by August this year. The initial phase will focus on allowing imports for business and transportation purposes.

“Regarding the easing of restrictions on vehicle imports, the Government will inform its position by August and outline how the restrictions will be gradually eased,” he added.

Semasinghe emphasised that the Government aims to avoid reverting to the era of strict import restrictions driven by election-centric decisions. The move marks a significant step towards easing import policies and addressing the demand for vehicles in the country.

The gradual increase in dollar reserves and the rise in the value of the rupee will allow the import of vehicles at least by next year, Finance State Minister Ranjith Siyambalapitiya said.