The move comes after a thorough scrutiny of proposed changes to sections 47, 57 and 153 of the existing ordinance, as presented by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policies Minister.

On 13 October 2022, the proposed amendments were approved by the Cabinet, marking a key step towards modernising and streamlining Customs processes in the country.

The changes will have far-reaching implications for businesses engaged in international trade, aiming to promote a more efficient and transparent framework.