Sri Lanka to ban vehicle imports for a year
Posted on Sep 4, 2020 by Administrator
Sri Lanka will not import vehicles for a year in a move to curb currency outflows, as there are sufficient vehicles in the local market, a government spokesman said Thursday (September 3).
“…obviously there are enough and more vehicles at the moment for about a year,” ministerial cabinet spokesman Keheliya Rambukwella told journalists at a media briefing.
He pointed out that the country is dealing with a serious currency exchange crisis as a result of the economic impact caused due to the COVID-19 pandemic.
“…so you need to have certain controls where the exchange is concerned,” Rambukwella pointed out.
State officials who have been issued permits to purchase vehicles will have to afford those in the local market, co-cabinet spokesman Ramesh Pathirana added.
“…those permit holders can use their permit to purchase their vehicle from the local market deducting the value of the permit,” he noted.
Sri Lanka had banned the import of vehicles amidst a foreign exchange crisis in April.