Economynext: Sri Lanka’s Petroleum Resources Development Secretariat (PRDS) has called for Expressions of Interest (EOIs) for surveys to gather geophysical data in its search for offshore petroleum deposits.
The PRDS, which regulates the upstream petroleum industry in Sri Lanka, has invited companies to do gravity and magnetic surveys over the offshore Mannar and Cauvery basins of Sri Lanka.
The EOIs are for surveys on a multi-client basis in partnership with the PRDS.
The bidders should indicate their ability to offer both airborne and marine acquisition capability in the event that a specific method yields better results for a particular measurement, it said.
Meanwhile, pre-owned car registrations were marginally down to 1,909 units from 2, 140 in March and 2, 190 units 12-months ago. Jafferjee expressed his surprise over the still high numbers despite the hike in taxes and levies by as much as 80 percent and increase in cost in rupee terms.
“In August 2015 Rs.1.08 was needed to buy 1 Yen; one now needs Rs.1.34 which is an almost 24 percent increase. Further the rate of excise taxes on hybrid vehicles was increased and, the base, on which taxes are charged according to the specified customs valuation, has increased by 40-45 percent,” he explained in a note.
Meanwhile premium brands recorded 46 units not many lower from 49 units in March and 93 units a year ago. Mercedes recorded 8 new units (C-class 4, E-class 2 and S-class 3) and 19 pre-owned units (C-class 8 units, E-class 4 units, S-class 2 units). BMW recorded 4 new units (5-series 2, 3-series 1) and 6 pre-owned units.
Electric car registrations plunged to 85 units from 160 in March and 152 units 12-months ago. Electric car rally was spoilt by the myopic policies, which led to higher taxes, little realizing the positive impact such could have on the environment.
Meanwhile, SUV registrations in April recorded 706 units, up from 610 units in March and 704 units 12-months ago.
“Numbers are growing month-on-month due to the performance of two hybrid models - Nissan X trail and Outlander and the DFSK Glory,” Jafferjee said. DFSK Glory is a Chinese made affordable SUV introduced to the Lankan market recently.
Registration of hybrid vehicles was also little changed at 2,253 units in April in comparison to 2,328 in March and 2, 300 units a year ago. Suzuki Wagon R recorded 603 units down from 659 units but significantly up from 109 units 12 months ago. Meanwhile, the common man’s mobility friends – 3-wheelers and 2-wheelers – were seen going in different direction in April.
3-wheel registrations recorded at 4, 151, up from 3, 978 in March but significantly down from 10, 839 units a year ago.
2-wheelers were down from 28, 619 in March to 23, 956 in April and from a similar number 12-months ago. “Bajaj claimed a segment share of 33.3 percent followed by Honda with 24.6 percent, Hero with 19.8 percent, TVS with 12.3 percent and others accounted for 10 percent,” Jafferjee said.
However a monthly growth at these levels in these two categories is unsustainable.