Limiting vehicle leasing rate: Temporary measure to reduce new vehicles

21 September 2015 03:20 am - 13     - {{hitsCtrl.values.hits}}


Transport Deputy Minister Asoka Abeysinghe said the government made it compulsory to pay 30 per cent of the value of a vehicle to the leasing company when purchasing a vehicle on lease and it was just a temporary measure to reduce the number of new vehicles registered and not to create hardship to the purchasers of vehicles.

Addressing a meeting of the Atugalpura Journalists’ Association he pointed out that one could take away a vehicle on lease without making an initial payment, but now the purchaser should pay 30 per cent of the value of the vehicle.

“Statistically over 5 million families live in Sri Lanka, but 6 million vehicles have been registered. At present 600,000 motorcars, 3.2 million motorcycles, one million trishaws, 100,000 buses have been registered and this has created severe traffic congestion in the main roads. The government has proposed to reduce the staff of the SLTB through voluntary retirement. The SLTB has not paid ETF contributions since 2010. However, 7,000 new employees have been appointed for the period. At present the SLTB has 36,700 employees for 6,500 buses. The government is planning to streamline the affairs of the SLTB” he said. Public transport services in any country are not profit making enterprises but they are not running at a loss. However, in Sri Lanka public transport services are running at heavy losses” he said. (Sajeewa Kottage)

  Comments - 13

  • Roshan Wienayake Monday, 21 September 2015 04:14 PM

    A very good move to to mitigate Foreign Exchange out-flow and Defficit in Exchange Reseves

    Piumi Monday, 21 September 2015 04:31 PM

    Hi Sirs...We have an open economy. Their cannot be trade barriers please.

    OMG Monday, 21 September 2015 09:53 AM

    If there were decent air conditioned public buses, I will never touch my car to go to work.

    Piumi Monday, 21 September 2015 04:36 PM

    better Introduce a domestic airline system.

    Mason Monday, 21 September 2015 11:43 AM

    Leasing is an agreement between Bank or Finance Company and Client. It is better for the government not to poke their finger in this. The problem faced being foreign reserve and congestion on roads. the import of vehicles must be reduced.Please from hereafter stop imposing burdens on the people.

    nim Monday, 21 September 2015 12:01 PM

    hoe can u expect a decent bus service with indiscipline drivers and conductors

    de silva Tuesday, 22 September 2015 11:15 AM

    Rather than importing new vehicle daily why don;t we ask the dealers to sell all their vehicles before the end of 2016 and until then stop importing new ones.

    Anonymous Monday, 21 September 2015 12:37 PM

    This is not the solution for the traffic problem.The problem was created by the inability of the government to improve on the road network with the increase in the population and vehicle ownership.The public transport in this country is terrible and it is actually sad that whatever the government is doing seems to impact the middle class the most. This would have been more acceptable had the government announced any plans to improve the state of public transport or to improve the standards of driving and not issuing licenses to any Tom, Dick, or Harry who is willing to pay a bribe while unable to drive.

    de silva Monday, 21 September 2015 01:04 PM

    Why Aircondition?

    ANTON Monday, 21 September 2015 01:30 PM


    sw Monday, 21 September 2015 02:50 PM

    100% correct

    well wisher Monday, 21 September 2015 09:12 AM

    Public transport is a service for the people like hospital it should not expect any profit see other countries like Uae,Ksa,Malasiya

    ibadun Monday, 21 September 2015 03:49 PM

    ///Limiting vehicle leasing rate: Temporary measure to reduce new vehicles - ////t such a foolish decision....

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