ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Sri Lanka's import ban puts hundreds of businesses in jeopardy

Colombo's ad hoc efforts to save forex likely to hamper economy and cost jobs

Colombo's ill-planned import ban to protect Sri Lankan foreign reserve is negatively impacting the economy.   © Reuters

COLOMBO -- Amid a deepening foreign exchange crisis that forced the Sri Lankan government to impose an indefinite import ban last year to save hard currency, hundreds of businesses are fighting for survival. Smaller ones have shut down, costing many their livelihoods.

Since March last year, the government has banned imports ranging from motor vehicles and air conditioners, to beer, clothing items, cosmetics and even spices such as turmeric -- an essential cooking item for most of local households.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more