📈 SMEs Urge President to Temporarily Ban Non-Essential Imports

A collective of small and medium businesses, the Ceylon United Business Alliance (CUBA), has written to President and Finance Minister Anura Kumara Dissanayake requesting an immediate, temporary ban on non-essential imports to protect depleting U.S. dollar reserves and local industries amid Middle East crisis supply shocks. • Core Demand: Impose temporary restrictions on consumer products that can be manufactured locally, specifically targeting sectors where domestic industries can meet 70% or more of the national demand. • Priority Sectors for Restriction: Apparel, footwear, tiles, plastic products, processed food, and furniture. • Financial Impact: Restricting apparel & textiles imports alone is estimated to save between US$ 75 Mn and US$ 150 Mn per month. • Exemptions Requested: Essential imports and production inputs must continue undisrupted to support the national economy. This includes raw materials, fabric, intermediate goods, fuel, rice, medicine, machinery, steel, and tourism-related requirements. • Objective: The association states this urgent action is a national priority required to preserve USD, safeguard local employment, prevent industry collapse, and avert another severe economic crisis.