Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal has told reporters that the government is considering the possibility of allowing people who agree to pay taxes in dollars to import vehicles.

"A final decision on this matter has not been made. But, it is being considered," he added.

The decision to restrict the importation of vehicles and the skyrocketing vehicle prices in the local market have drawn the ire of the urban and semi-urban middle class.

Meanwhile, the CB Governor has also stated that the government will provide the required dollars to import fuel for the next three months.

However, this could further shrink Sri Lanka's foreign reserves which have already plummeted to USD 2 Billion under the current administration.

The government is negotiating a $ 500 million loan from India and a concession from the United Arab Emirates for fuel imports.