Sri Lanka, March 12 -- President Anura Kumara Dissanayake reaffirmed that the government would not reintroduce import controls on vehicles, noting that US$ 150 million worth of Letters of Credit (LCs) have been opened since the liberalisation of vehicle imports.

He emphasised that the government closely monitors vehicle import data from the banking system on a daily basis. "As of 10 February, there were US$ 150 million worth of LCs were opened," he said.

Speaking at the 26th anniversary of the Chamber of Young Lankan Entrepreneurs (COYLE) in Colombo, Dissanayake addressed concerns over a potential policy reversal. "You may have doubts that we will revert back to import controls, but I am telling you that you don't need to fear as we hav...