Vehicle importers face a crisis

Sunday, 30 September 2018 - 9:51

Vehicle+importers+face+a+crisis
The Lanka Vehicle Importers Association says that they are severely affected by the measures taken by the government to reduce pressure on the value of the Sri Lanka Rupee in comparison to the US Dollar.

The government decided to suspend issuing vehicle permits to parliamentarians for a period of one year and importing vehicles for ministries, departments, statutory boards and state-owned-enterprises was also suspended until further notice.

Furthermore, the Loan to Value Ratio for hybrid vehicles has also been revised from 70% to 50%.

Chairman of the Vehicle Importers Association Indika Sampath Merenchige said that vehicle imports may even come to a complete standstill as a result.



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