Stakeholder consultation on the proposed tariff reforms has begun as part of the implementation of the 2026 Budget proposals, according to a statement from the Department of Trade and Investment Policy.

This initiative is a collaborative effort involving the Ministry of Finance, Planning and Economic Development, the Ministry of Industry and Entrepreneurship Development, the World Bank, and other relevant agencies.

The goal is to promote awareness of the new Four-Band Tariff Policy and gather input from key stakeholders.

Yesterday, in Colombo, the Department organized an Awareness and Consultative Programme to engage representatives from various sectors, including trade chambers, government agencies, and industry bodies.

Notable attendees included Deputy Minister Chathuranga Abeysinghe, Treasury Secretary Harshana Suriyapperuma, Ministry Secretary K. A. Vimalenthirarajah, Ministry Secretary Thilaka Jayasundara, and World Bank Senior Economist Richard Walker, among others.

The programme focused on providing an overview of the proposed tariff reforms, which are aligned with international standards under the United Nations Broad Economic Classification (BEC), Revision 5.

The reforms aim to bolster domestic industries, promote fiscal sustainability, and facilitate trade, supporting the government’s broader objectives of increasing exports and fostering economic growth.