The Ceylon United Business Alliance (CUBA), a collective of small and medium enterprises (SMEs), has written to President and Finance Minister Anura Kumara Dissanayake calling for a temporary ban on non-essential imports, arguing that local industries are being undercut and dollar reserves drained by global supply shocks.
“Sri Lanka is again facing a severe USD shortage. Before it is too late, we respectfully request the Government to immediately impose a temporary ban on non-essential imports, similar to the action taken in 2023,” CUBA said in its letter.
The body called for restricting consumer products that can be made locally, “especially where local industries can supply 70% or more of demand.” It named apparel, footwear, tiles, plastic products, processed food and furniture as priority sectors to curb. Restricting apparel imports alone, it argued, could retain $75 million to $150 million a month for the country.
CUBA stressed that essential imports and production inputs should continue uninterrupted, including raw materials, fabric, fuel, rice, medicine, machinery, steel and tourism-related goods.
The request lands as the rupee, which recently touched a three-year low before rebounding, remains under pressure, and the Central Bank weighs its policy stance. It runs counter to advice from former CBSL Governor Indrajit Coomaraswamy, who warned the same day against broad import restrictions, cautioning that administrative controls could erode investor confidence. The authorities have so far targeted demand through measures such as tighter vehicle loan-to-value limits rather than outright import bans.
