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February 29, 2024
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Sri Lanka Bans Import Of 300 Consumer Items To Stabilise Economy

NB BUREAU

Sri Lanka on Wednesday slapped a ban on the import of 300 consumer items including chocolates, perfumes and shampoos as part of the cash-strapped island nation’s bid to tackle its worst economic crisis.

Sri Lanka is going through its worst economic crisis since its independence in 1948.

According to the reports, the special notification issued by the Sri Lankan finance ministry on August 22 bans the import of a total of 300 items under imports and exports control regulations. However, these items if shipped before August 23 and arrive in the country before September 14 would still be allowed, it stated.

Reports say Sri Lanka is desperate for an International Monetary Fund (IMF) bailout and talks for a staff level agreement commenced on Wednesday.

 

(With media inputs)

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