The suspension of personal vehicle imports could be lifted by the middle of next year, said state finance minister Ranjith Siyambalapitiya.
Official foreign reserves have gone up due to increased tourism earnings and foreign exchange remittances, but are still inadequate to allow for these imports, he said.
The government plans to grant permission gradually for vehicle imports that remain suspended since March 2020.
President Ranil Wickremesinghe has given instructions for talks with all stakeholders before finalizing the decisions, he said.
A committee comprising all sectors has held several rounds of talks and drafted a report which is presently under review, said Siyambalapitiya.
A final report is to be submitted to the cabinet by the second week of August.
