President Anura Dissanayake says that there is no intention to re-impose the vehicle import restrictions that have been in place since early February. The President also said that $150 million in letters of credit have been opened for vehicle imports. He further to said that he is closely monitoring the letters of credit opened by banks for vehicle imports by receiving daily reports.
President Anura Kumara Dissanayake expressed these views while participating in the 26th conference of the Young Sri Lankan Entrepreneurs Council held at the Shangri-La Hotel in Colombo yesterday (10).
The President said that this year’s budget has taken steps to create an economy with some degree of free movement instead of an economy that has been locked down with brakes, and that this year’s budget has been prepared so that the economy does not experience a major shock.
The President further stated that the current government was sensitive to ensuring that the rupee did not experience an unbearable pressure when making decisions regarding the economy, and that certain decisions had to be taken in accordance with the recommendations of the International Monetary Fund.