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Thursday, 29 October 2015 - 12:31
90% leasing facility for Motor Vehicles effective from today
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The Finance Ministry said the 90% leasing facility for motor vehicles will come into effect from today.

The Finance Ministry stated that the Central Bank would send the relevant circular to the state and the private banks within today.

Earlier, the 100% leasing facility in purchasing motor vehicles was suspended with effect from September 15th.

The circular issued on September 15th reduced the leasing facility from 100% to 70%.

However Finance Minister Ravi Karunanayake who considered the adverse effect to local motor vehicle market has decided recently to increase the leasing facility up to 90%.
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