Hambantota Port Handles 9,151 Vehicles as Import Ban Eases
- CNL Reporter
- May 27, 2025
- Business News
- Hambantota Port
- 0 Comments
Sri Lanka’s Hambantota Port reported the import of 9,151 vehicles since February 2025, following the partial lifting of the vehicle import ban imposed in 2020. The port says streamlined operations have enabled faster vehicle clearance.
The Central Bank revealed $200 million worth of vehicles have been imported, and $450 million in letters of credit opened.The vehicle ban was one of many restrictions introduced after inflationary rate cuts led to forex shortages and economic instability.
Attempts to curb the rupee’s decline through import controls—particularly in 2018 and 2020—failed, as printed money redirected demand to other goods. Critics argue that macroeconomic policies prioritized monetary manipulation over market fundamentals, undermining economic freedom and competitiveness, including in sectors like jewellery.
A recent rate cut in May 2025 has reignited concerns of repeating past policy missteps, drawing parallels to previous episodes of monetary easing that destabilized the currency and trade.
