Written by Staff Writer
30 Sep, 2018 | 4:33 pm
COLOMBO (News 1st): The ‘Vehicle Importers’ Association’ says that vehicle prices will see a rapid rise. The association says that this will be as a result of the new regulations implemented by the government to prevent the depreciation of the Rupee. The new regulations will come into effect from today (September 30).
“This could lead to a scarcity of vehicles in the country”, said Sampath Merenchighe, the Chairman of the ‘Vehicle Importers Association’.
He has said that his association strongly disagrees with the new conditions imposed on leasing facilities for vehicles. According to Merenchighe, these new conditions for leasing will affect the internal money circulation process in the country, and that commercial banks, traders and leasing companies will suffer dire consequences.
Meanwhile, Minister of Finance and Mass Media, Mangala Samaraweera has said that most of the dollars are spent on importing vehicles to Sri Lanka. He has said that “it is hard to think that the country’s people are suffering from poverty when one sees the number of new vehicles brought at the Sri Lanka Customs”.
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