He was speaking at a media briefing at the finance ministry.
Karunanayake also said the Customs facilities would be modernized with the installation of scanners capable of observing the insides of containers.
That facility will be made available within three months, he said.
The minister also said a special raiding unit comprising intelligence, armed and law enforcement, finance and customs officers would be established to curb the smuggling in of narcotics drugs into the country.