Ali Sabry Welcomes Government’s Additional Tax Decision

18-May-2026

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Former Finance Minister Ali Sabry has stated that the government’s decision to impose a 50% surcharge on vehicle imports is a prudent measure that will help safeguard Sri Lanka’s foreign exchange reserves, especially amid growing global uncertainty and external pressures.

Posting on his official X platform, he said he had always believed that the current war could last longer than anticipated by the United States and Israel. Therefore, he had consistently advocated from the very first day of the war for such an economic protective measure.

He further stated that the clarity provided by exempting Letters of Credit opened on or before 15 May 2026 is highly important and serves as a sensible and fair safeguard.

“This avoids unnecessary uncertainty and protects importers already affected from further hardship and arbitrary administrative difficulties. In times of crisis, clarity and fairness in implementation are just as important as the policy itself,” he said.

He also noted that Sri Lanka’s economic recovery remains highly vulnerable to global instability, especially conflicts that disrupt energy markets and supply chains. Small, import-dependent economies like Sri Lanka bear a heavy cost from wars and geopolitical conflicts.

Sabry stressed that Sri Lanka and other like-minded nations must continue to urge all parties involved in conflicts to seek solutions through peaceful dialogue and diplomacy rather than aggression. He added that ordinary people in vulnerable countries suffer the most severe economic and humanitarian burden of war.