Sri Lanka Revokes Ban: Cars Return Amid Forex Revival

Sri Lanka has lifted its import ban on cars following economic recovery. President Anura Kumara Dissanayake announced the end of this restriction, imposed during the 2020 economic crisis, effective February 1. Despite a 50% import surcharge, the move marks a milestone in Sri Lanka's economic revival aided by IMF support.

Sri Lanka has lifted its ban on car imports, a significant step following economic recovery after stringent measures.

President Anura Kumara Dissanayake announced the decision through a special gazette notification, ending a restriction that began in early 2020.

Despite this move, a 50% surcharge on import duties will apply, aimed at maintaining the country's forex reserves while avoiding another financial downturn.