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Importation of vehicles to be considered by end of 2021: State Minister

Minister of State of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal told Parliament today (23) that the country had sufficient stocks of vehicles for about two years and that a decision on the importation of vehicles, which is currently banned, would be considered by the end of this year.

The Minister was responding to an oral question raised by Leader of the Opposition Sajith Premadasa regarding the ban on vehicle imports.

The State Minister said that the Government and the Central Bank of Sri Lanka had to alleviate the severe pressure on the exchange rate of Sri Lanka and accordingly imposed import restrictions on selected non-essential commodities from last March.

“Based on this move, we had to restrict the import of cars as well. Since we have ample vehicles in our country, we were able to maintain the ban on importing new vehicles. A decision will be taken by the end of this year on the importation of vehicles. The government hopes to ease the import restrictions as they have been imposed on a temporary basis,” he said.