Sri Lanka has finally lifted the import ban on cars, having last week allowed only trucks, buses and double cabs. Through a new special gazette notification on Friday, President Anura Kumara Dissanayake lifted the ban on vehicle imports with effect from February 1.
This has completely ended the ban on vehicle imports imposed in early 2020 with the Covid outbreak. The ban was continued when Sri Lanka suffered its economic crisis triggered by forex shortage. In April 2022, Sri Lanka declared its first ever debt default.
However, the imports will be subject to a 50 per cent surcharge on the import duties which is expected to push prices of new imports higher.