Dec 14, 2021

Basil informs Cabinet on further import restrictions! Featured

Due to the dollar crisis in the country, further restrictions would have to be imposed on imports, Finance Minister Basil Rajapaksa said at the Cabinet meeting yesterday night (13).

However, the Minister of Finance had said that priority will be given to the import of fuel, pharmaceuticals, essential food items and industries, Lankadeepa reports.

The Finance Minister had said that he was in talks with neighboring countries including India, Japan and China, to overcome the dollar deficit, adding that he was hoping for a positive response from those countries.

Indian discussions successful - Basil

He also said that his talks with the Indian government during his visit to India had been successful

Meanwhile, he said he was also in talks with the International Monetary Fund.

As President Gotabhaya Rajapaksa is out of the country, the Cabinet meeting was chaired by Prime Minister Mahinda Rajapaksa and was held at Temple Trees and the dollar crisis in the country was discussed at length, it was reported.

Several ministers had suggested the borrowing of funds from the IMF to resolve the dollar crisis while others had said that going to the IMF would mean the country would have to agree to several of their conditions.

Therefore, they had noted that it is more important to seek the support of friendly countries instead of going to the International Monetary Fund.

However, it is reported that no final decision was taken on whether to seek the assistance of the International Monetary Fund or not.