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Call to conditionally lift vehicle import ban 

21 Sep 2020

  • VIASL and VIAL to discuss with Minister 
By Sarah Hannan The two main vehicle importers’ associations, the Vehicle Importers’ Association of Sri Lanka (VIASL) and the Vehicle Importers’ Association of Lanka (VIAL), have raised concerns over the continued ban on imports, which has also caused a spike in the vehicle prices as well as the destabalisation of the retail market for car sales that specialise in imported vehicles. The Morning contacted VIASL President Shrikantha Gamage to inquire about the current status, to which he responded: “Although there were news reports noting that Sri Lanka has sufficient stocks of vehicles to last up to two-and-a-half years, there is actually a lack of the latest vehicles introduced to the market.” Gamage said that the shortage in brand new units is now creating a grey market where individuals are purchasing vehicles and reselling it at a higher price, with the prices increasing due to the lack of stocks. He urged that necessary regulations should be in place to control individuals from bringing down vehicles for what they claim to be as personal use, when in fact it is to evade the tax system of the country, creating competition against car sale owners who have to undergo many regulations to import vehicles. He also noted that permit holders are now in a difficult position as they are unable to bring down the type of vehicle they planned to obtain using their permits. “We are having a series of discussions, and next week, hopefully, we can meet State Minister of Transport Services Management Dilum Amunugama to discuss our issues and find workable solutions, and perhaps lift the ban conditionally to allow some imports,” Gamage elaborated. The VIASL also added that they are aware that the Government had imposed these bans to stabilise the economy following the pandemic. However, it was suggested that it would not be wise to place a full ban for the foreseeable future, as not everyone would want to drive vehicle brands such as Nano, Alto, and Renault. “The requirement of each buyer category is different and we should be able to cater to their growing needs, so we are looking at discussing the possibilities of at least importing a limited number of vehicles in the coming months,” Gamage added. Earlier this month, VIAL President Sampath Merenchige had stated that vehicle prices had skyrocketed by around Rs. 200,000 to 300,000, adding that the price hike would remain at that until the ban on importation is lifted. With the possibility of the ban being in place for the next two years given the current global economic climate, both importers pointed out that the stocks for personal use vehicles are fast reducing and is possibly creating a grey market where one would buy a vehicle and wait for the demand to increase and would sell it at a higher price a few months after purchase. Merenchige urged the public not to fall into the trap of purchasing such high-priced vehicles at this point, as they are negotiating terms with the Ministry to conditionally lift the ban in the coming months, so that customers would not have to pay a high markup on the vehicles they purchase.

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