Vehicle prices increased due to IMF condition: Deputy Minister

24 January 2025 10:33 am Views - {{hitsCtrl.values.hits}} 18 Bookmark

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Parliament, January 24 (Daily Miror)- Vehicle prices have gone up before their imports due to an IMF condition which required to match prices in relation to inflation, in order to control inflation, Deputy Finance Minister Prof. Anil Jayantha Fernando said yesterday.

He told parliament that posts shared on social media that vehicle prices were increased to favour leasing companies were false and that the NPP government takes decisions while considering the functioning of the whole economy and not to favour selected groups.

The Minister said prices were required to be matched in relation to the inflation in goods such as tobacco, alcohol, vehicles and electronic equipment in January by considering the inflation during the year.

"The average inflation in 2024 was 1.9 percent. The prices of tobacco, alcohol, vehicles and electronic equipment needed to be increased after adding 4 percent to the inflation of 1.9 percent in 2024," he said.

Comments - 18

Zarook Friday, 24 January 2025 10:44 AM

Sharia law only way to clean SL.

16 8

Gunadasa Friday, 24 January 2025 01:14 PM

Okay Mr. Mohammed Zarook

2 3

Perera Friday, 24 January 2025 01:15 PM

B o l o c k s. Go live in a backward country like Afga

3 9

Suhada malli Friday, 24 January 2025 10:54 AM

RW govt and now the AKD govt are both hiding behind the IMF to avoid taking the blame for unpopular decisions we as a nation has to take. IMF is not our enemy. WE enjoyed life well beyond our means as a nation and now we have to manage inflows and outflows very carefully. So try and be more honourable dear ministers. Atleast say until we improve our revenues we have to maintain high duties and taxes rather than making the IMF looks like a monster.

2 30

Mohandev Friday, 24 January 2025 10:56 AM

All these months govt was boasting inflation was reduced by them ! So why another lie to cover up their inefficient ineffective economic policies, bankrupt govt once again

1 24

NPP Gona Friday, 24 January 2025 11:21 AM

ලබ්බ තමය් . දැනටමත් වාහන ගණන් වැඩි වෙලා තියන්නේ 200 % Toyota Axio sell for 40 laks 4 year ago now selling over 100 laks. so what to match the infaltion now. these are the idiat idea from central bank and now these people just repeating. finally people are suffering.

1 24

Anton Friday, 24 January 2025 12:12 PM

Compare it with Dollar rate as well. multiple it from the rate so you will get exact value. and add the scarecity value. that is capital economy in this context while reserving money for fuel.

2 3

Nilantha Dissanayake Friday, 24 January 2025 11:24 AM

Absolute donkey he thinks that we are all fools Out of the 154 who got elected half of them are useless fellows big talk cannot perform. We were the ultimate idiots for voting for them. AKD these guys will humiliate you like nothing.

2 31

Dr. Dee esquire Friday, 24 January 2025 06:52 PM

Nothing new in being humiliated!

0 1

Yohan Friday, 24 January 2025 12:23 PM

Minister Samantha before coming to power said that npp will be the once who decides on terms and conditions not loan providers like imf. They lied before elections and now lies onces again. If they are doing the same like former goverment, why did they ask for power. These npp liars should resign and go home.

1 19

A Supporter of NPP Friday, 24 January 2025 12:43 PM

Your government agreed to IMF conditions. Now do not try to find excuses; shut up and fulfill promises NPP made during the election. If you cannot, resign.

1 18

Loyal Friday, 24 January 2025 01:03 PM

The NPP seems to be following the IMF's conditions more than previous regime. Sri Lankans, however, have short memories!

1 8

RanjithT Friday, 24 January 2025 01:39 PM

It is raining today. Damn IMF.

0 10

Ghouse Friday, 24 January 2025 02:41 PM

IMF said increase Aswesuma payments and beneficiaries, IMF said increase salaries of government servants, IMF said increase vehicle prices and we NPP do what IMF say. We can't do anything on our own. And NPP says they have done remarkable job during this two months.

0 5

Terrence K Friday, 24 January 2025 04:15 PM

All this is a cock and bull story to hide your incompetencies passing the buck to the IMF which is not governing the country. Give us good reasons why has inflation skyrocketed inspite of a low regime of interest rates. Basically what the govt has done is reduced one digit interest rates which previously depended on the market demand and supply of money thats why fixed deposits fell drastically and this benefit you gave the corporates anticipating with the reduction in the cost of production inflation will fall but what has happened was inflation never fell you have fleeced the interest of the deposit holders and passed to the big corporates. To show that inflation has dropped essential items to calculate the inflation was not included in the household expenditure. These are tricks of the govt and the public who dependends on interest rates are in the category of paupers. not only that a withholding tax is now taken to pass this on for salary increases my goodness!!!!!!!!

0 5

Roger Halliday Friday, 24 January 2025 06:52 PM

Hey weren't you the guys who said we won't bow down to the IMF, we Will change the previous agreements on condition that the former governments agreed to... Where is all the talk now.?

0 2

Asf Saturday, 25 January 2025 12:05 AM

If the vehicle prices are increased to match the inflation then how about the exchange rate. I believe it is fixed similar to what previous govt has done. Further luxury tax is currently charged for the vehicle where the CIF value is more than 3.5M rupees, this is same as previous one. In 2019, 3.5M LKR is almost equal to 19,000 USD and based on current exchange rate it will be more than 5M LKR. Luxury tax threshold limit should be revised based on the exchange rate.

0 0

Namal W Sunday, 26 January 2025 06:08 AM

The buffaloes in Sri Lanka still has not realised that politicians are liars. When the election time comes they will lie through their teeth. I was advocating for a government with RW as the president, and a NPP government, but we we now have a clean government carrying out RW's policies. The truth doesn't change, but most of the Sri Lankans are not matured enough realised the right and the wrong.If everything doubled in price since 2022, the car prices also have to double, even with old taxation rules a 4 million car would be 6-7 million. This is common sense arithmetic. With the ban on imports the demand is much higher, so the real prices would be 8 million or more.

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