Import of vehicles temporarily suspended: Importers

4 May 2016 10:30 pm - 8 - {{hitsCtrl.values.hits}}

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The importing of vehicles to the country will be suspended for six months due to the present currency fluctuation, Vehicle Importers’ Association of Sri Lanka (VIASL) President Indika Sampath Merenchige today said.

“The cost of used and brand new vehicles that are imported from Japan had gone up drastically due to the deprecation of the SL Rupee against the Japanese Yen,” Mr. Merenchige said.

“But if anyone still wants to import vehicles they may do so, although they will be called upon to bear the increased cost, which could be an increase of Rs.300,000 to Rs.400,000, due to the currency fluctuations,” he said.

“Following a meeting between local vehicle importers today a decision was taken to stop the import of vehicles for three to six months until the foreign exchange rates stabilize,” he said.

The vehicles that had already been imported would be sold at the currant market value so as not to cause any inconvenience to the government, he added.

However the increased fifteen percent VAT policy would not affect imported vehicles, he said.

Meanwhile, speaking to Daily Mirror, chairman of the Vehicle Importers’ Association Mahinda Sarathchandra explained that the decision to put a temporary halt to vehicle imports was taken due to the foreign currency rate increase, mainly In relation to the Japanese Yen, US Dollar, Sterling Pound and the Euro.

“About 15,300 motor cars were imported into the country during the past 4 months which is a slight drop in comparison to 2015 which saw 150,628 cars being imported,” he said. (Chaturanga Pradeep)

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Comments - 8

Sharon Thursday, 05 May 2016 06:01 AM

Hell. Whats going on in the country via DM iOS App

lion Thursday, 05 May 2016 06:39 AM

Very good suspend it for 20 years and find some other jobs.

nalaka Thursday, 05 May 2016 06:49 AM

magampura will run out of work

John Thursday, 05 May 2016 06:58 AM

It would be a better idea to stop imports for at least two years cos the country is flooded with vehicles.

ANTON Thursday, 05 May 2016 07:25 AM

BECAUSE EACH POLITICIAN HAS BEEN GIVEN AT LEAST 5 LUXURY VEHICLES.

Athmarthakamiya Friday, 06 May 2016 10:58 AM

I got a vehicle. others can use public transport

Anton Friday, 06 May 2016 09:11 PM

Good that the government is stopping vehicle imports. There are too many in SL. If you want to buy one there's plenty in SL.

mahinda Thursday, 12 May 2016 09:38 AM

President can use economy class floghts Why do the VIP need duty free luxury transport every 05 years, The country has no money for day today expenses.Gava-Paalanaya( COW- MANAGEMENT)

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Import of vehicles temporarily suspended: Importers

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