The Government of Sri Lanka is expected to make a final decision on lifting the long-standing vehicle import ban by the second week of August 2025, according to Dr. Ranjith Siambalapitiya, the State Minister of Finance.
A special government-appointed committee convened on August 4 to thoroughly review the economic impact and feasibility of resuming vehicle imports. Their final report is scheduled for submission to the Cabinet of Ministers within the coming days. This decision comes at a critical time when the public and various sectors are experiencing increasing demand for new and replacement vehicles.
According to preliminary findings, vehicle imports may resume without negatively affecting the country’s foreign exchange reserves. The government aims to balance economic recovery with public needs, particularly in the transport and tourism sectors.
If approved, vehicle imports will restart in phases, beginning with:
- Public transport vehicles
- Goods transport vehicles
- Alternative and eco-friendly vehicles
- General vehicles
- Private vehicles
Additionally, during a recent Parliamentary session, the Minister confirmed that the Cabinet has approved the import of 1,000 vehicles for the tourism industry. However, as of now, no vehicles have yet been imported under this approval.
The upcoming Cabinet decision could mark a turning point for Sri Lanka’s vehicle market, opening new opportunities for buyers, sellers, and the automobile industry at large.
Source: NewsFirst