Sri Lanka, June 19 -- The Deputy Minister of Finance, Planning and Economic Development, Dr. Anil Jayantha Fernando said that the primary objective of the newly issued gazette notification is to systematically monitor import operations rather than impose restrictions on them.

According to the Deputy Minister, the regulation introduced by the Department of Import and Export Control is designed to closely analyze payments made for imports. The strategic goal is to prevent the unnecessary and illegal outflow of vital foreign exchange from the country, rather than limiting standard import and export activities.

Dr. Fernando further revealed that recent disclosures in Parliament exposed how certain factions have been exploiting the import-e...