All restrictions on imports except for private vehicles are expected to be lifted by the end of 2023, Officials representing the Ministry of Finance informed the Committee on Public Finance (COPF).
According to a Parliament statement, the officials disclosed this when the Committee requested a time frame as to how long such restrictions will be in place.
The Ministry officials were questioned on a time frame taking into concern the duopolies such restrictions have caused, especially governing wheat flour and tile.
The discussion pertaining to the matter was held at the Committee on Public Finance in Parliament yesterday (Sep 05), Chaired by MP Harsha de Silva.
Accordingly, the Committee took into consideration the Regulation under the Imports and Exports (Controls) Act, No. 1 of 1969 published in the Gazette Extraordinary 2341 / 38 of 20.07.2023 and was approved by the Committee.
The Order under the Foreign Exchange Act, No. 12 of 2017 was also considered during the meeting and was approved by the Committee.
Accordingly, the eligible migration allowance for the emigrants who are claiming the migration allowance for the first time was increased from USD 30,000 up to a maximum of USD 50,000 or equivalent in any other designated foreign currency.
The Committee questioned the position of equity for those who migrated the year prior to such an order. The officials present stated that emigrants who have already claimed migration allowance could claim the remainder up to a maximum of USD 20,000. (NewsWire)