Govt. suspends issuing vehicle permits to MPs

29 September 2018 04:24 pm - 23     - {{hitsCtrl.values.hits}}

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In order to ease the pressure on the Sri Lankan rupee, the government has taken a number of measures including a decision to suspend issuing of vehicles permits to Parliamentarians for a period of one year.

In a statement, the Finance Ministry said these temporarily measures are effective from midnight today.

Importation of vehicles for Ministries, Departments, Statutory Boards and State own Enterprises will also be suspended until further notice.

“Importation of vehicle using the concessionary permits issued to State Sector employees will be suspended for six months. No Letters of Credits (LCs) will be permitted to be opened based on these permits during this period,” it said.

The Loan to Value Ratio (LTV) for Hybrid vehicles will be revised from 70:30 to 50:50 basis and the importers of all vehicles other than buses, lorries and ambulances will have to keep a 200 percent cash margin at the time of opening of the LCs.

“Further, the requirement of 100 percent cash margin has been imposed for the import of refrigerators, air conditioners, televisions, perfumes, telephones, mobile phones, washing machines, footwear and tyres,” the Ministry said.

Though the measures will be effective temporarily, the Ministry said it will continuously monitor the exchange rate fluctuations and will take appropriate action accordingly.

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  Comments - 23

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  • TONY Saturday, 29 September 2018 06:16 PM

    CANNOT SRI LANKA FIX THE EXCH RATE OF A US$

    Dhammika Sunday, 30 September 2018 06:58 AM

    GOOD DECISION . At least NOW wake UP and DO what has to be done .

    Ronbug Sunday, 30 September 2018 12:55 PM

    Aye, aye to that

    RAK Sunday, 30 September 2018 08:51 PM

    Typical Sri Lankan believing government lies, wake up they have already used their permits

    Aryan Sunday, 30 September 2018 07:09 AM

    Seems to be a good initiative..will wait and see how far it implemented and strengthen our currency.

    Niyas Sunday, 30 September 2018 07:13 PM

    Fooling again the public. All the Members have already taken vehicles. Next entitlement will be 2021.

    ravi Sunday, 30 September 2018 07:51 AM

    Not only this Hon. Finance Minister, please reintroduce tax exemption given on property purchases such as Below 4th Floor Apartment and house purchase with land, due to this exemption country is loosing foreign exchange income and put difficulty or unimaginable to purchase a house in specially Colombo

    Saranga Sunday, 30 September 2018 01:51 PM

    Incorrect argument

    economist Sunday, 30 September 2018 08:46 AM

    Yes, Sri Lanka Can fix Exchange Rates. Stop Gross expenses with Net Incomes.

    Unchikun Sunday, 30 September 2018 08:48 AM

    For me the contents of this news is nothing but hilarious, The economy improvement for various categories are different. So the MPs can get there permits in 6 months time. Time for the elections. Nice. Send the whole lot to the bin at the next opportunity .

    save Sunday, 30 September 2018 09:02 AM

    this duty free things should be fully stopped,

    Upul Sunday, 30 September 2018 06:20 PM

    Fully agreed. In a democratic country every benefit should be equal for every citizen. There shouldn't be any favour for a selected group.

    Lord Wolfstein Sunday, 30 September 2018 09:28 AM

    Concessionary permits should be abolished forever

    lkboy Monday, 01 October 2018 09:17 AM

    A permit given once is enough. but they give permits every 5 years! No country like this.

    Wise Donkey Sunday, 30 September 2018 10:53 AM

    So, MPs' auto business comes to an abrupt end.............

    Tudur Sunday, 30 September 2018 05:18 PM

    We are about to reach the next destination Ethiopia thanks to MS n RW

    Jada Sunday, 30 September 2018 05:40 PM

    Is this enough to stop the free fall of the rupee? Doubtful, but good first step.

    sss Sunday, 30 September 2018 06:04 PM

    it is like saying i do not want to eat anymore after eating 5 buriyanis

    sam Sunday, 30 September 2018 06:41 PM

    The finance minister has realized this is the root cause or one of them. This can mean only one thing. STOP HANDING OUT PERMITS permanently. It is an unfair corrupt practice and we cannot afford it. STOP handing out permits and it will fix the economy, improve the traffic and generate more tax income. You can them subsequently improve the roads, improve public transport and reduce indirect taxes on good which affect the less fortunate.

    southpaw Sunday, 30 September 2018 08:46 PM

    Are politicos are the Richest in the world and showered with luxury vehicles in the Form of Lamborginies, Ferraris , BMW,s for which their Family and Friends benefit at the Tax payers expense

    Ceylon Sunday, 30 September 2018 09:05 PM

    why politicians give all these things?.their job is to discuss laws in parliment.why the hell give all these?.give them only salary.no need to give any other things.give them salary rp 300,000 per month.manage from it.it's more than need.presently spend for president more than one hundred million a day.give him one million salary per month.what work president do to get billions in expensess?.

    Gummay Baiyya Sunday, 30 September 2018 10:09 PM

    Please continue to get down millions of dollars worth of bullet proof luxury cars that we cannot afford, and then dump them in the ocean to make artificial barriers to prevent sea erosion along Galle road.

    willwosd Monday, 01 October 2018 11:59 AM

    Too late too little?


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