Anura Kumara Dissanayake has stressed the need to pay serious attention to finding solutions to the country\u2019s foreign exchange crisis and safeguarding the existing foreign reserves during an emergency Cabinet meeting.<\/p>\n
The President stated that, under the current circumstances, the use of foreign currency must be managed in a highly responsible and well-regulated manner.<\/p>\n
He pointed out that for a country like Sri Lanka, which is heavily dependent on imports, protecting foreign exchange reserves is an extremely difficult and challenging task.<\/p>\n
As a result, he said the government has been compelled to consider restricting the import of non-essential goods. However, he emphasized that careful consideration is needed when deciding which goods should be classified as non-essential.<\/p>\n
A product considered non-essential by one person may be essential to another, and therefore decisions must be taken cautiously and thoughtfully, the President noted.<\/p>\n
He further explained that a significant portion of the country\u2019s dollar reserves is currently being spent on fuel and motor vehicle imports.<\/p>\n
Since fuel imports cannot be halted under any circumstances, the government has been forced to consider temporary measures to limit vehicle imports as an alternative step.<\/p>\n
However, the President warned that a complete ban on vehicle imports could severely damage the domestic vehicle market, which has only recently begun to recover after major difficulties.<\/p>\n
To prevent the collapse of the local vehicle market while also controlling the outflow of dollars, the Cabinet has reached what was described as a balanced alternative solution.<\/p>\n
Accordingly, the Cabinet has decided to impose a special additional tax aimed at discouraging vehicle imports, and this special tax policy will remain in effect for the next three months, President Anura Kumara Dissanayake stated further.<\/p>\n","protected":false},"excerpt":{"rendered":"
Anura Kumara Dissanayake has stressed the need to pay serious attention to finding solutions to the country\u2019s foreign exchange crisis and safeguarding the existing foreign reserves during an emergency Cabinet meeting. The President stated that, under the current circumstances, the use of foreign currency must be managed in a highly responsible and well-regulated manner. He …<\/p>\n","protected":false},"author":1,"featured_media":1687,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local"],"_links":{"self":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts\/1686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/comments?post=1686"}],"version-history":[{"count":1,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts\/1686\/revisions"}],"predecessor-version":[{"id":1688,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts\/1686\/revisions\/1688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/media\/1687"}],"wp:attachment":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/media?parent=1686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/categories?post=1686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/tags?post=1686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}