Sri Lanka’s Cabinet of Ministers has approved submitting two new import and export control regulations to Parliament, reinforcing the Government’s efforts to strengthen trade oversight, safeguard domestic industries, and improve the regulation of international commercial transactions.
The proposal was presented by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning and Economic Development and received Cabinet approval at its meeting on Monday.
One of the key measures requires exporters to obtain an Export Control Licence for the export of discarded metal products, various metal moulds, and scrap metal. The regulation is intended to curb the illegal export of valuable metal resources and protect local industries that depend on these materials. The measure was initially approved by the Cabinet on 30 March 2026 and formalised through Import and Export (Control) Regulations No. 05 of 2026, published in Extraordinary Gazette No. 2493/03 on 15 June 2026.
The Cabinet also approved the submission of Import and Export (Control) Regulations No. 06 of 2026, published in Extraordinary Gazette No. 2493/39 on 18 June 2026 under the provisions of the Imports and Exports (Control) Act No. 1 of 1969. The regulations amend the Special Import Licence and Payment Regulations No. 1 of 2011, requiring goods imported under the internationally recognised prepayment system to arrive in Sri Lanka within prescribed periods of 180, 365, or 730 days from the date of payment, depending on the relevant category.
Addressing the weekly post-Cabinet media briefing, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the amendments are designed to strengthen the regulation of imports conducted under the prepayment system while ensuring the timely receipt of imported goods. The reforms are expected to enhance regulatory compliance, improve transparency in international trade, protect local industries, and support Sri Lanka’s broader agenda of promoting sustainable economic growth and a more efficient trade environment.
