Feb 18, Colombo: Sri Lanka's Minister of State Revenue and Finance Ranjith Siyambalapitiya is planning to submit three proposals to Parliament to waive import duties on machinery for crucial sectors of the country's economy.

The import duties for machinery used in agriculture and textile weaving are to be waived. Further, import duties on machinery that is seven or more years old will also be waived.

The government hopes to boost these sectors through these measures.