Vehicles imports cannot be allowed yet: Siyambalapitiya

16 June 2023 03:25 pm - 29 - {{hitsCtrl.values.hits}}

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Import of vehicles cannot be allowed at this moment under the prevailing economic situation, State Minister of Finance Ranjith Siyambalapitiya said today.

He said the government is managing the economy under strict conditions by restricting the import of about 900 items.

The State Minister speaking to the media in Ruwanwella said that a decision on the import of vehicles should be taken only after studying the current situation in the country.

"Even after 80 million US dollars were set aside for the purchase of fuel, it had an impact on the value of the Sri Lanka rupee against the US dollar.

“Therefore, decisions like vehicle imports which entail a large amount of dollars should be done after strict studies.

"Therefore, at this juncture, permission cannot be granted for the import of vehicles considering the large amount of foreign reserve which needs to be allocated,” he said.

Commenting on the depreciation of the Sri Lanka Rupee against the USD in the past few days, the minister said the situation is because the Ceylon Petroleum Corporation had to purchase about 75 to 80 million US dollars from the Central Bank to purchase fuel.

“At that time, the parties investing in dollars bought them expecting the dollar to rise. That is why this situation arose. This is a normal situation,” Minister Siyambalapitiya added.(Darshana Sanjeewa Balasuriya)

Comments - 29

Joseph Friday, 16 June 2023 03:49 PM

Very good decision. Time has not come yet for relaxation of such restrictions

sss Friday, 16 June 2023 03:55 PM

Use the dollars to import basic food. 25% of the population is starving

flying Friday, 16 June 2023 04:06 PM

keep giving fantasy statements about the exchange rates!!! Even a dumbest of dumb will know that the prevail situation is only coz of the non payment of loans and import restrictions. The moment the government starts paying loans the usd will appreciate again. These donkeys have no any plans to develop the income of the government except tax, tax and more tax. To collect tax u don't need a PHD at central bank.

Lion Friday, 16 June 2023 04:15 PM

But your friend has promised his newly found friends in the vehicle importers association that he would try his best to get the restrictions lifted. Poor rascal from nawalapitiya highlighted only the side of revenue ,generated from customers which amounts to billions and he never paid any attention to the massive flowing out of of dollars from the country when the vehicle import restrictions are removed for vehicles.

Roshanaly Friday, 16 June 2023 04:20 PM

Very good decision. The Spare Parts are still very high despite the drop in Dollar rate.

Ananda Jayaweera Friday, 16 June 2023 04:37 PM

Never import vehicles already the congested roads don't take us anywhere in time

Bernard Jayatilake Friday, 16 June 2023 05:12 PM

The main reason for the appreciation of the dollar is the government has so far painted a cosmetic economic situation after the IMF loan to hoodwink the unsuspecting section of the masses and we are back to square one created by the former ruler to maintain the ban on import of some items as it would erode the reserves which would eventually pave the way to second bankruptcy.

Sam Silva Friday, 16 June 2023 05:40 PM

Why don't you ban it permanently except for the emergency vehicles

Riyazi Friday, 16 June 2023 06:11 PM

Yes..pls tell it loudly..until rupees become strong at 250 or 260 don ever allow vehicle import...

UMAS ALI Friday, 16 June 2023 06:13 PM

NEVER NEVER EVER IMPORT VEHICLES TO SRI-LANKA.

Tissa Fernando Friday, 16 June 2023 06:31 PM

Very good decision. Let Mahindananda wait and use his 4 year old vehicle.

Sunil Friday, 16 June 2023 06:55 PM

Great. Good sense prevails.

True Sri Lankan Friday, 16 June 2023 07:07 PM

Good decision. This country has more than enough imported vehicles and the road system cannot absorb anymore vehicles. Please use valuable USD reserves to develop a robust public transportation system and invite reputed Foreign and local investors run a modern bus and taxi services. Also request Japanese and other investors to build light railway and underground railway systems.

Lanka Friday, 16 June 2023 07:45 PM

Finally, someone with some common sense!!!!

sam Friday, 16 June 2023 07:56 PM

There must be a start. Luxury vehicles should be banned for at least 10 years. Only small vehicles less than 1200 or 1300 cc should be allowed subject to the importer is a tax payer. There wont be many applicants

RK Friday, 16 June 2023 09:00 PM

Vehicles are ample enough now. Concentrate on basic needs.

GTR Friday, 16 June 2023 09:07 PM

Good decision. Only scrupulous car dealers will benefit from importation. There are more priorities that require state intervention.

MYDIN Friday, 16 June 2023 09:16 PM

IF the public transport system is good (with light railway system, decent busses, etc.) very few people will use their vehicles, as it costs a lot of money and wastes a lot of time. I live in Kuala Lumpur and I see so many commuters reading the news, doing their work in laptops, students doing their homework in underground trains, during their commute to and from their work places and schools.

joshua Friday, 16 June 2023 10:36 PM

Thank God. We have enough in the sale and the roads. The roads cannot take in anymore.

yes Saturday, 17 June 2023 12:00 AM

It's only allowed for Rajapaksa family and other mafia gang members of the politicians. What a Banana Republic this Sri Lanka. And what about iporting new pblic busses. Even in poor africancountries they have better public busse.

ANNECUNT Saturday, 17 June 2023 01:04 AM

NOT NOW OR LATER BUT NEVER ALLOW CAR IMPORT TO THE FEW RICH PEOPLE, MOST SRI-LANKANS ARE POOR PEOPLE, STRUGGLING TO FEED AND EDUCATE THE CHILDREN

Herman Perera Saturday, 17 June 2023 01:42 AM

This bloke does'nt know whether he is sitting or standing. There is a shortage of medicines. Utilise the monies you got to import them.

King Saturday, 17 June 2023 04:00 AM

Strange! Company called T...Cargo are exporting brand new luxury cars to Sri Lanka every month from Australia. Which minister is allowing this? These buggers are trying to dupe the idiot public with these comments.

Kunchithapathan Saturday, 17 June 2023 06:48 AM

This is another tactic to feel the pulse by the vehicles import mafia, to pressure the government to allow import of vehicles. There are political rogues behind the seen trying their level best to achieve ulterior motives. Government should be focused on projects that would help reduce the imports to save foreign exchange. Example, by setting up more and more solar farms to curtain the use of fossil fuel which we don't produce.

VJ Saturday, 17 June 2023 08:27 AM

It is good a decision to stop the import of non essential items including vehicles. When imports are restricted, countries which were buying our goods will also restrict imports. Our export revenue will fall, our export oriented Industry will suffer, unemployment numbers will go up. Some of our export industries depend on imported raw materials. Most of our people have forgotten that we are bankrupt, a $850 million loan a year from the IMF will not change that immediately.

kamal Saturday, 17 June 2023 08:38 AM

all drama

Cecil Hedwige Saturday, 17 June 2023 08:51 AM

It is more important to reduce cost of living and reduce the burden of the poor masses than to import vehicles for the rich. The govt should focus on providing a healthy meal for the people at an affordable price.

Thomas Dharmachandra Saturday, 17 June 2023 09:05 AM

Concentrate on providing, food and medicines in the first instance and then think about bringing luxury vehicles for the 225 in Parliament who dont deserve to be there as the people have not accepted them as their representatives after the last year peoples revolution, which made the elected representatives null and void.

Sambo Monday, 19 June 2023 08:10 AM

It will be allowed in 2048 as per the president.

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Vehicles imports cannot be allowed yet: Siyambalapitiya

Comments - 29

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