📦 Sri Lanka Restricts Scrap Metal Exports to Shield Local Industry

The Cabinet has approved new legal measures to halt the export of scrap metal, aiming to address a critical shortage of raw materials affecting domestic manufacturers. • Policy Action: Implementation of strict legal provisions to prevent the bypass of existing export bans through the use of counterfeit product descriptions and alternative HS Codes. • Strategic Rationale: The move protects local small-scale industrialists by ensuring a steady supply of essential raw materials, reducing the reliance on more expensive imported scrap. • Scope of Restrictions: The export suspension covers several key metals and related products, including: Iron, Copper, Aluminium, and Brass. White Iron, High Carbon Iron, and China Plate. Aluminium Ingots, Zinc Ingots, and Copper Wire. • Context: This reinforces a 2020 directive to prioritize national industrial needs. The proposal, submitted by the Minister of Industry and Entrepreneurship Development, highlights a commitment to domestic value addition and employment stability within the manufacturing sector.